But What Questions Does This Raise About Tax? Security breaches are nothing new in the cryptocurrency space. In the last few...
Quickly and easily calculate your income, deductions, capital gains and losses from virtual currency trades.
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BitTaxer is the fastest, easiest, and most accurate way to calculate and file income, deductions, gains and losses from your virtual currency trades. It's CPA-Approved, and it works across every one of your devices.
BitTaxer was created alongside a roster of expert CPAs who use and love our software.
BitTaxer works wonderfully across Mac, PC, Mobile iOS, Mobile Android, tablets, and all web browsers. (Mobile apps coming soon!)
All your capital gains and losses on Buys, Sells, and Purchases of Goods and Services accounted for on an IRS Form 8949 and an attached worksheet for a more detailed view.
Upload your data and reports or input your Read-Only API Key from all major exchanges.
We'll take you through the upload process step-by-step, or skip right to your Dashboard.
All your Mining Income, Charitable Donations, Gifts, and Deductions accounted for on your Tax Information Worksheet.
Crypto newbie? Cagey vet? Let us answer some of your most common questions about cryptocurrency and taxes.
The IRS defines virtual currencies as a form of personal property. Despite the name virtual currency, it is a capital asset in the eyes of the government. Any gains realized during the disposition of a virtual currency are taxable as income. Whether it be for FIAT currency or goods/services, all gains are equally taxable.
Any virtual currency a user generates by mining is classified as income at its fair value at time of acquisition. If you purchased mining hardware, the USD cost of your equipment is deductible as a business expense. Cloud mining contracts are not considered hardware or deductible at this time.
Let’s say your salary was paid entirely or partially in Virtual Currency. The US considers the Dollar valuation of what you were paid, at the time of payment, as taxable income. A salary of $30,000 in virtual currency is taxed the same as $30,000 paid in USD. It’s good to ask your employer/contractor for the fair value of the virtual currency you received, in order for you to get the most accurate figure for what you owe. If the fair value is unknown, you would use the USD value of your virtual currency at the time of your filing.
See what our Advisors have to say about BitTaxer:
CPA, BitTaxer Advisory Board
BitTaxer is advised directly by CPAs and other industry experts. Given the limited guidance we have in tax law, professional expertise is essential to interpret the law correctly.
CPA, CFP, BitTaxer Advisory Board
They went about it the right way by reaching out to CPA’s like myself who specialize in the field. The owners of the site are incredible people to work with and help me as a tax professional serve my clients to the best and most correct outcome.
CMO Svandis.io, BitTaxer Advisory Board
Couldn't be more thrilled to have the opportunity to assist this team. I started as an enthusiast of the product after going through half a dozen other platforms.
Check out the BitTaxer blog for more info on cryptocurrency taxes, tips & tricks for staying compliant, and software updates.
With the tax deadline approaching on April 15, time is running out for crypto holders to claim their losses for 2018....
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