request Any CPA recommendations?

[crunchyg]

Looking for a reliable person who can do domainer taxes (U.S. corporate and personal). Crypto experience a plus. Feel free to review someone you have worked with.

 

[garptrader]

Anyone who prepares your return is still going to need the data of relevant revenues and expenses. I do my own return but do not offer services.

With domains, this includes sales and parking revenues as well as domain acquisition and renewal costs plus any marketing or commission expenses. But they need all data from day one of your domaining journey. Most registrars can provide this.

For websites include Google Adsense and other revenues less hosting and development expenses. Development expenses if material might be amortized over several years.

For crypto - all transactions need to be captured - sales, acquisition costs, interest paid by platforms such as Crypto.com, Celsius, Nexo,, Blockfi, etc. Swaps from one crypto to another are taxable events. Swaps will be considered a sale of one crypto (tax on difference between sales price and acquisition cost) at date of the swap and subsequent acquisition of the other crypto. Unfortunately, if you spend crypto to buy anything (Bitpay or Crypto.com cards or Bitcoin.com wallet), that purchase is going to be considered a taxable event.

Transfers from one wallet to another (example - Coinbase to Celsius or Trust wallet) are not taxable events but the cost of the transfer should be captured.

Note that with crypto sales, the cost associated with that sale could either be the average cost of all prior acquisitions of that crypto or you can select specific acquisitions that correspond with how much was sold (to minimize the tax). However, you also need to capture acquisition dates as transactions will need to be classified as either short or long-term capital gains / losses depending on the holding period. As long as you HODL, tax prep is a lot easier. If you are a frequent trader, good luck.

 

[crunchyg]

Thanks, but I am not looking for tax advice from strangers or asking you to teach me how to be a better recordkeeper. This thread is for recommending CPAs.