What does a crypto tax accountant do?

A crypto tax accountant is a valuable ally for crypto users, providing essential guidance on navigating the intricate and often complex landscape of cryptocurrency taxation. Their expertise empowers you to make informed decisions about how to manage your crypto gains and losses before and through tax season.

Do you pay tax on crypto?

Cryptocurrency is viewed as property and is taxed in the US as either Capital Gains Tax or Income Tax. You won't pay tax when you buy crypto, hold crypto, or move your crypto between wallets. Gifting crypto is tax-free, provided you've not hit the lifetime gift exclusion.

What makes a good crypto tax expert?

As a result, there are no formal crypto tax experts right now; instead, there are those individuals who have gained expertise through real world experience, conversations with regulators, and by being up to date with new crypto tax news. Further, good CPAs have an open mind. Currently, there are only few direct answers to crypto tax questions.

How much does a crypto accountant cost?

The hourly rate for a professional crypto accountant will vary, and how much you can expect to pay will depend on the complexity of your crypto transactions. A CPA will charge between $37 to $400 an hour, and many will not be qualified as crypto tax accountants.