CRYPTO IS THE FOUNDATION FOR TOMORROW’S OPEN FINANCIAL SYSTEM. IT’S ALSO A PART OF TODAY’S TRADITIONAL ONE.
Make no mistake: you are required to report gains and losses on each transaction or when you earn cryptocurrency, even if the gain or loss is not material
Using bitcoin to buy ethereum is considered a disposition of the bitcoin for example.
Using bitcoin to buy a pizza
Including staking rewards and interest earned
Including bitcoin, ether, XMR, and more
The Legislation Continues To Evolve
Cryptocurrency investors may face higher taxes as the infrastructure bill cracks down on future IRS reporting.
The $1.2 trillion deal calls for mandatory yearly tax reporting from digital currency brokers starting in January 2023
And the measure may be a “big reality check” for investors who haven’t tracked crypto activity, financial experts say.
GOLDIN GROUP IS PLEASED TO INTRODUCE CRYPTOCURRENCY
TAX PREPARATION & SERVICES
*Quoted fees are in addition to your tax return preparation fee
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