Read time: 5 minutes Hey There! This week, the crypto markets took a nosedive. At its lowest point, the total market capitalization plummeted by approximately $367 billion. Many investors watched their portfolios shrink, feeling the sting of unrealized losses. But there's a silver lining when markets tank: Tax-loss harvesting. Today, we're talking about: How tax-loss harvesting works Why investors overlook this strategy A step-by-step guide to offsetting crypto gains with losses Let’s dive...
9 months ago • 4 min read
Read time: 5 minutes, 45 seconds Hey, Crypto Tax Pros! Welcome to another edition of Chain Reactions, where we analyze only the most relevant developments in cryptocurrency taxation and regulation. This week, we’re covering: 🔍 IRS playing catch-up: TIGTA report reveals crypto tax enforcement gaps 📊 Ethereum ETFs launch with a bang, generating over $1B in first-day trading 🤖 Leveraging AI to future-proof your crypto tax practice (stay ahead of the curve!) Let’s dive in! IRS Playing Catch-Up on...
9 months ago • 6 min read
Read time: 9 minutes, 45 seconds Hey, Crypto Tax Pros! Welcome to another edition of Chain Reactions, where we analyze only the most relevant developments in cryptocurrency taxation and regulation. And we do it in 5 minutes or less (because let’s face it, decoding crypto is already like solving a Rubik’s cube blindfolded). This week, we’re covering: 📊 Crypto Broker Regs: 5 key tax reporting changes explained 🏛️ SEC and CFTC clash over crypto classification as securities or commodities 💼...
10 months ago • 7 min read
Read time: 4 minutes, 20 seconds Hey, Crypto Tax Pros! Welcome to another edition of Chain Reactions, where we analyze only the most relevant developments in cryptocurrency taxation and regulation. And we do it in 5 minutes or less (because we all need that extra coffee break). This week, we’re covering: 🏛️ Coinbase’s legal battle with the SEC and FDIC for regulatory transparency ⚖️ SCOTUS ruling curtails SEC’s enforcement powers and its broader implications 📈 VanEck’s Solana ETF filing and...
10 months ago • 5 min read
Read Time: 4 minutes, 10 seconds Hey, Crypto Tax Pros! Welcome to another edition of Chain Reactions, where we analyze only the most relevant developments in cryptocurrency taxation and regulation. This week, we’re covering: 💼 Terraform Labs & Do Kwon’s $4.47B SEC Settlement (why it matters and industry reactions) 📈 Ether ETFs expected to be fully approved by September (what this means for the market) 🏦 Trump pushes for all Bitcoin mining to be done in the USA (potential impacts and...
11 months ago • 4 min read
Read Time: 6 minutes Hey Crypto Tax Pros! Welcome to another edition of Chain Reactions, where we analyze only the most relevant developments in cryptocurrency taxation and regulation. This week’s roundup focuses on the rapid and surprising shifts in the crypto regulatory landscape, highlighting key changes and their potential impacts: 🚀 Spot Ethereum ETF Approval: The SEC’s unexpected approval of eight spot Ethereum ETFs and what it means for the crypto market. 📜 FIT21 Bill Advances: A deep...
11 months ago • 5 min read
Read Time: 6 minutes Hey, Crypto Tax Pros! Ready to tap into a $7.5 billion market? Yes, you read that right. The crypto tax market is booming, and the potential for growth is staggering. Let's break it down quickly: For the 2021 tax year, 6.6 million people answered "yes" to the virtual currency question on Form 1040. With the trend continuing, we project about 15 million people will check "yes" in 2023. If even 10% of these need professional crypto tax help, that's 1.5 million clients. With...
11 months ago • 6 min read
Read Time: 9 minutes Hey Crypto Tax Pros! Welcome to another edition of Chain Reactions, where we analyze only the most relevant developments in cryptocurrency taxation and regulation. This week’s roundup focuses on the significant implications of the new draft tax form 1099-DA, touching upon how these changes will reshape the landscape for all involved: 📑 5 Revealing Inclusions In the Draft Form 1099-DA: Unpack the significant elements of the draft Form 1099-DA and their potential...
12 months ago • 8 min read
Read Time: 6 minutes Hey, Crypto Tax Pros! Welcome to another edition of Chain Reactions, where we break down only the most relevant happenings in the world of cryptocurrency taxation and regulation. This week's roundup is all about navigating the ever-evolving regulatory landscape: 🌡️ The Ponzi Scheme Loss Deduction Applied to Celsius: Delve into how the IRS's Ponzi scheme loss deduction could be a lifeline for investors affected by the Celsius collapse. ⚖️ Ethereum Foundation Under...
about 1 year ago • 5 min read