The future of finances has arrived, and RC CPAs is at the forefront of handling our clients’ cryptocurrency assets. Adhering to the evolving rules imposed by bodies like the IRS can be complicated, particularly given the volatility at play.
In the United States, all profits made from the purchases and sales of digital currencies such as Bitcoin and Ethereum are subject to capital gains taxes. This is because they are treated as property (much like stocks, real estate, or gold). However, it’s important to keep in mind that all the rules that apply to these other assets do not also all apply to cryptocurrencies.
The laws around how crypto taxes work are fairly new and will continue to evolve alongside this groundbreaking technology. This makes it all the more important to consult an expert if you’ve experienced profits (or losses) via any cryptocurrency-related activities this year, and to plan ahead for future years as well if cryptocurrency makes up a sizable chunk of your assets.
We handle taxes and financial management strategies related to:
Our financial professionals are well-versed in regulatory registration requirements and are specialized in handling cryptocurrency and can help you safely manage your digital assets. Contact us to learn more.