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BITCOIN & CRYPTOCURRENCY CPAs.

Tax Preparation and Accounting
(844) 426-1040

BITCOIN & CRYPTOCURRENCY CPAs.

Tax Preparation and Accounting
(844) 426-1040

Your Trusted Source for Crypto Tax Prep.

Crypto Tax Prep by Happy Tax is featured on Product Hunt, Accounting Today, Franchise Times and Entrepreneur Magazine.

Get Your Return Completed in 4 Easy Steps!

Get Your Return Completed in 4 Easy Steps!

We Work With All Types
of Cryptocurrency,
Not Just Bitcoin.

Our CPAs help clients with income from all types of cryptocurrencies, not just bitcoin. A short list of the cryptocurrencies we’ve worked with includes Ether, Ripple, Dash, Litecoin, Monero, Steem, NEO, IOTA, EOS, zCash and many other altcoins. *Don’t forget, the Bitcoin Cash and Bitcoin Gold forks are also taxable events if you received and sold them.

Tax Prep + Accounting.

Calculating your capital gains or losses for Bitcoin and other cryptocurrencies isn’t always straightforward. To accurately calculate your crypto and pay the least amount of tax legally possible you would need to know the cost-basis of every token you own, track every profit and new basis when you spend or sell, and be able to work out the best way to identify your trades to optimize your taxes. Let our CPAs do it for you.

We have joined our crypto accounting services with tax preparation, so you get the best service available. We will provide you with easy to use tools to see your profitability, keep track of your profits even for the most sophisticated traders. Then, we compile that into your tax return that includes all of your other income, adjustments, credits, and deductions.

Our process is simple and easy, yet powerful and effective.

Yes! We complete your crypto reconciliation, gather all your information in our online portal and complete your Federal and state tax returns.

Yes. The IRS issued a policy notice in 2014 expressly stating that Bitcoin and other virtual currencies are taxable as property. While many investors believe that digital currencies fall under loopholes or exemptions to the tax code, this is far from the case. The IRS is ramping up enforcement against cryptocurrency investors, and the agency is even going after investors retroactively as far back as 2013.

In many ways, virtual currency operates just like legal tender. It can be exchanged, used for purchases, loaned out or given away. It is a store of value and a medium of exchange, but it is not considered legal tender in any U.S. jurisdiction. In the United States, the federal government is the only entity that can officially create money, and it has established the dollar as the legal tender. Unless Bitcoin or some other virtual currency legally replace the U.S. dollar under federal law, it will be taxed as property or some other similar asset.

Under U.S. law, a property can be “real” – meaning buildings or land – or “personal” – meaning assets that you own other than real estate. Personal property can be tangible, like your car or your prized stamp collection, or it can be intangible, like the rights to a copyrighted image or musical score. So, cryptocurrencies would qualify as intangible personal property under U.S. tax policy.
Under U.S. law, a property can be “real” – meaning buildings or land – or “personal” – meaning assets that you own other than real estate. Personal property can be tangible, like your car or your prized stamp collection, or it can be intangible, like the rights to a copyrighted image or musical score. So, cryptocurrencies would qualify as intangible personal property under U.S. tax policy.

Virtual currency wages, self-employment income, or other payments should be reported using the full fair market value of the cryptocurrency at the time the payment was made. So, for example, if you are paid one Bitcoin when the price was $10,000, but the price increased to $12,500 by the time you file your taxes, you report the income as $10,000.

If you invest in cryptocurrencies, it’s likely characterized as a capital asset by the IRS. A capital asset is a significant piece of property like real estate, vehicles, stocks, bonds, or valuable collectibles like art or antiques. Capital assets owned for more than one year produce what is known as a capital gain (or loss). Capital gains are taxed differently than earned wages or self-employment income, and the rates vary based on your tax bracket.

On the contrary, capital assets owned for less than one year produce a short-term gain (or loss). Short-term gains are taxed at the ordinary income rate, which is determined by your taxable income. These tax rates are changing with the federal tax reform coming in 2018, so be sure that you’re up to date on how the new laws affect your investment.

Many of us use software and apps to help us manage our finances. However, when it comes to the fast-paced and constantly-changing world of cryptocurrency investments, not consulting with a tax professional when setting up or managing a virtual currency portfolio is a mistake.

Your hometown accountant may not be totally up to speed on the latest rules and regulations affecting cryptocurrencies. Fortunately for you, all Happy Tax CPAs have been specially trained in the tax treatment of Bitcoin and other virtual currencies. As a result, you can count on Happy Tax to get you the tax planning and preparation services you need to give you some much-needed peace of mind come tax season.

We Work With All Types
of Cryptocurrency,
Not Just Bitcoin.

Our CPAs help clients with income from all types of cryptocurrencies, not just bitcoin. A short list of the cryptocurrencies we’ve worked with includes Ether, Ripple, Dash, Litecoin, Monero, Steem, NEO, IOTA, EOS, zCash and many other altcoins. *Don’t forget, the Bitcoin Cash and Bitcoin Gold forks are also taxable events if you received and sold them.

Tax Prep + Accounting.

Calculating your capital gains or losses for Bitcoin and other cryptocurrencies isn’t always straightforward. To accurately calculate your crypto and pay the least amount of tax legally possible you would need to know the cost-basis of every token you own, track every profit and new basis when you spend or sell, and be able to work out the best way to identify your trades to optimize your taxes. Let our CPAs do it for you.

We have joined our crypto accounting services with tax preparation, so you get the best service available. We will provide you with easy to use tools to see your profitability, keep track of your profits even for the most sophisticated traders. Then, we compile that into your tax return that includes all of your other income, adjustments, credits, and deductions.

Our process is simple and easy, yet powerful and effective.

Yes! We complete your crypto reconciliation, gather all your information in our online portal and complete your Federal and state tax returns.

Yes. The IRS issued a policy notice in 2014 expressly stating that Bitcoin and other virtual currencies are taxable as property. While many investors believe that digital currencies fall under loopholes or exemptions to the tax code, this is far from the case. The IRS is ramping up enforcement against cryptocurrency investors, and the agency is even going after investors retroactively as far back as 2013.

In many ways, virtual currency operates just like legal tender. It can be exchanged, used for purchases, loaned out or given away. It is a store of value and a medium of exchange, but it is not considered legal tender in any U.S. jurisdiction. In the United States, the federal government is the only entity that can officially create money, and it has established the dollar as the legal tender. Unless Bitcoin or some other virtual currency legally replace the U.S. dollar under federal law, it will be taxed as property or some other similar asset.

Under U.S. law, a property can be “real” – meaning buildings or land – or “personal” – meaning assets that you own other than real estate. Personal property can be tangible, like your car or your prized stamp collection, or it can be intangible, like the rights to a copyrighted image or musical score. So, cryptocurrencies would qualify as intangible personal property under U.S. tax policy.
Under U.S. law, a property can be “real” – meaning buildings or land – or “personal” – meaning assets that you own other than real estate. Personal property can be tangible, like your car or your prized stamp collection, or it can be intangible, like the rights to a copyrighted image or musical score. So, cryptocurrencies would qualify as intangible personal property under U.S. tax policy.

Virtual currency wages, self-employment income, or other payments should be reported using the full fair market value of the cryptocurrency at the time the payment was made. So, for example, if you are paid one Bitcoin when the price was $10,000, but the price increased to $12,500 by the time you file your taxes, you report the income as $10,000.

If you invest in cryptocurrencies, it’s likely characterized as a capital asset by the IRS. A capital asset is a significant piece of property like real estate, vehicles, stocks, bonds, or valuable collectibles like art or antiques. Capital assets owned for more than one year produce what is known as a capital gain (or loss). Capital gains are taxed differently than earned wages or self-employment income, and the rates vary based on your tax bracket.

On the contrary, capital assets owned for less than one year produce a short-term gain (or loss). Short-term gains are taxed at the ordinary income rate, which is determined by your taxable income. These tax rates are changing with the federal tax reform coming in 2018, so be sure that you’re up to date on how the new laws affect your investment.

Many of us use software and apps to help us manage our finances. However, when it comes to the fast-paced and constantly-changing world of cryptocurrency investments, not consulting with a tax professional when setting up or managing a virtual currency portfolio is a mistake.

Your hometown accountant may not be totally up to speed on the latest rules and regulations affecting cryptocurrencies. Fortunately for you, all Happy Tax CPAs have been specially trained in the tax treatment of Bitcoin and other virtual currencies. As a result, you can count on Happy Tax to get you the tax planning and preparation services you need to give you some much-needed peace of mind come tax season.

WHY USE US?

As the first and only national FinTech firm to offer bitcoin and crypto tax preparation and accounting, we have the most experienced bitcoin and crypto tax preparation practice in the country. Our tax returns are 100% prepared by US-based licensed Certified Public Accountants, no fly by night tax preparers here. Our clients include miners, day traders, casual investors, early adopters, and businesses accepting bitcoin as a payment method. We prepare taxes for clients in all 50 states.

View IRS Guidelines
View FinCen 114 and FBAR Requirements

  • Expert CPA Prepared Returns

  • Accuracy Guarantee

  • 100% Free Audit Assistance

  • Security is Built In

  • Year Round Support

  • Free Anytime Tax Returns Access

WHY USE US?

As the first and only national FinTech firm to offer bitcoin and crypto tax preparation and accounting, we have the most experienced bitcoin and crypto tax preparation practice in the country. Our tax returns are 100% prepared by US-based licensed Certified Public Accountants, no fly by night tax preparers here. Our clients include miners, day traders, casual investors, early adopters, and businesses accepting bitcoin as a payment method. We prepare taxes for clients in all 50 states.

View IRS Guidelines
View FinCen 114 and FBAR Requirements

  • Expert CPA Prepared Returns

  • Accuracy Guarantee

  • 100% Free Audit Assistance

  • Security is Built In

  • Year Round Support

  • Free Anytime Tax Returns Access

CRYPTO
IS IN OUR DNA.