‘Tis the Season to Be Scary…but Crypto Taxes Don’t Have to Be

It lurks is the dark. It’s hiding under your bed. This season, no one is safe from—crypto taxes. Okay, not really. Sure, the scariest season of the year is upon us, but that doesn’t mean virtual currency taxes have to be. In truth, though the IRS guidance around them has been a bit uncertain, calculating them for your clients is actually super easy. BitTaxer is out to transform the tricks in your tax business into treats with our CPA-approved software. In fact, the spookiest part is that you aren’t yet activating this easy revenue stream for your business.

Bitcoin? Blockchain? Alt-coin? These all probably sound greek to you but the fact is, cryptocurrency trading is a hot button item and, despite the bear market we’re in right now, it’s not going away. Confusion over the verbiage, as well as IRS guidelines, are just a few of many reasons that CPAs tend to shy away from offering tax services to virtual currency traders. We understand. With such a vast landscape of currencies and terminology, it can be a bit difficult to know where to begin. But shying away from being a crypto-friendly CPA is a missed opportunity to grow your business and get an edge on your competitors.

Consider this: many tax companies have yet to wade into the crypto pool for some of the same reasons you might be shying away from it. By getting ahead of the curve, you are proactively sending a message to current and potential clients that you are a professional who is “in the know” and keeps up on everything that may or may not apply to their returns. By even asking them if they have crypto holdings to report, you’re ensuring that you aren’t missing any opportunity to make them happy or generate more revenue for your business.

How does it work? You simply upload/import the transactions from your client’s virtual currency exchange of choice, answer a few questions, and then are given a fancy completed report to use for filing, or a file which can be directly imported into your chosen tax software.

Still a little apprehensive about having some holes in your knowledge? We make that super easy for you. We have a whole team of crypto-savvy CPAs who can help you at any given time and we’re always keeping up on the latest and greatest in government regulation so you don’t miss a beat.  We also have an in-house Customer Success Team standing by to assist. Plus, we’ll even help you market your new service by sending leads. With all this information and our assistance at your fingertips, you’ll soon realize it’s easier to help your clients comply with government regulations, see significant savings in time, and boost your bottom line (score!). Keep those pesky questions or concerns that go bump in the night at bay and rest easy knowing you have a friend in BitTaxer.