We Know Crypto
The initial allure of cryptocurrency was in its anonymity–users are identified not by name, but by lengthy “addresses.” However, cryptocurrency is anything but anonymous. Thanks to the blockchain (the distributed ledger), every single coin movement of every single user can be tracked. Add in the Know Your Customer (KYC) requirements for most exchanges, and this paves the way for a super-easy IRS audit. Thanks to KYC, the IRS knows who you are.
When it comes to cryptocurrency tax reporting, we cannot stress compliance enough. Don’t risk the penalties and interest (and potential criminal referrals) that can come with substantial tax understatement.
We Know Crypto
We are active in the crypto space, so we are very familiar with the complex and fluid nature of these assets. Do you mine, stake, or lend crypto? We’ve got you. Do you have large trading losses? We feel your pain! We’ve been there too…
Crypto Reconciliation
The first step in accurately reporting your crypto tax activity is reconciliation. If you do not have a closing balance report from a prior crypto tax pro (many people don’t), we can start from scratch by reconciling your cryptocurrency activity all the way back to when you first started investing in it. To do this, we assist you in gathering all of your exchange and wallet transactions that qualify as tax events.
Next, we use leading software to calculate your gains, losses, mining income, staking income, etc. We are Crypto Tax Consultants for CoinTracking.info, and we leverage their technology for accurate reporting. We then analyze the results via several accepted accounting methods to determine the most advantageous accounting method for you. For clients with crypto on foreign exchanges, we can also prepare the FBAR and FATCA for you.
Once the reconciliation is complete, the results are then presented to you in detailed PDF reports and Excel files.
Crypto Tax Reporting
After reconciliation is complete, you have the option of taking the results to your own accountant for entry into your tax return, or we can prepare your return in full.
Say goodnight to tax problems
Discover the full range of services we offer to help you say goodnight to tax problems and keep your finances running smoothly. From expert tax relief to organized bookkeeping, we’re here to support your business every step of the way.
Stay organized and informaed with clear, accurate bookkeeping to support your business growth.
Reliable, on-time payroll processing so you can focus on leading your team.
Struggling with IRS or state tax issues? We negotiate and resolve for peace of mind.
Understand your crypto gains and stay compliant with specialized crypto tax reporting services.
Strategic tax planning to maximize deductions and keep more of what you earn.
Professional notary services for your business and personal document needs.
At Sunshine Tax Relief, we’re here to simplify your tax concerns and give you the clarity and confidence you need. Whether you’re dealing with back taxes, need help navigating IRS notices, or just want peace of mind when it comes to your financial future, our team is ready to help. Just fill out the form, and a dedicated tax professional will reach out to walk you through the next steps and answer any questions you have.
Individual results will vary based on circumstances, including your ability to provide Sunshine Tax Relief with information that is accurate and timely. We do not guarantee that your tax debts will be lowered by a specific amount or percentage, that your tax debt will be paid off within a specific period of time or guarantee you will qualify for any IRS, state, or local taxing authority programs. Penalties and interest will continue to accrue until your tax liability is paid in full to the IRS or state/local taxing authorities. Sunshine Tax Relief is a tax preparation and resolution firm independent from the IRS. We do not assume tax debt, make monthly payments to creditors or provide bankruptcy or legal advice. By providing your contact information, you expressly request us to respond to your inquiry with information regarding our products and services, including by the use of automated or pre-recorded calls and/or SMS text messages at the number you provide. You represent that you are authorized to receive calls on any phone number you provide and acknowledge charges may be incurred as a result of those calls. Read and understand all program materials prior to enrollment. Not available in all states.