What are Cryptocurrency Tax Services?
Cryptocurrency tax services are professional tax and accounting assistance — focused on digital asset transactions like trading and staking activities as well as NFTs, and DeFi. These services turn raw wallet & exchange records into well-documented entries on the relevant tax return — and look for lawful ways to lower the overall tax burden.
What Cryptocurrency Tax Services Do You Really Need?
When digital assets show up in your portfolio, your tax return naturally changes. Maris & Associates, CPAs helps US taxpayers turn scattered wallets and exchanges with DeFi activity into a return that is accurate & well documented and easy to explain.
What Do Crypto Taxes Actually Cover?
Such rules apply when you are selling, swapping and spending or earning digital assets. Because many of those moves are counted as taxable events. Disposing of a token can create capital gain or loss — while receiving coins as payment or rewards and yield can create ordinary income. Naturally, tracking the cost basis with values across platforms is where most taxpayers struggle.
Who Benefits Most from a CPA in This Case?
You benefit from professional help — if the use case of the digital assets goes beyond a single account — or an occasional purchase.
You are a strong match in the scenarios given below:
- Trading usually on several platforms.
- Receiving mining or validator as well as staking rewards.
- Creating or collecting and selling NFTs for income.
- Running a business that accepts digital assets.
How Do Cryptocurrency Tax Filing Services Work With Our Team?
Cryptocurrency tax filing services with Maris & Associates, CPAs follow a simple & repeatable process — from information gathering through actual filing action. The aim is a clear trail from each distinct transaction to the numbers on the tax return.
Typical steps include:
- Discovery call — We simply review prior returns and platforms — then set scope and timing
- Secure data collection — You share CSV files and API links as well as wallet addresses — so our team can see the complete activity
- Transaction cleanup and labeling — We separate transfers from taxable events and tag sales and swaps with income
- Tax calculation and filing — We apply cost basis and holding periods — prepare needed forms such as Form 8949 and file or deliver the tax return
How Are Common Digital Asset Transactions Treated for Tax Purposes?
Crypto taxation varies in line with whether a transaction represents a disposal of an asset or new income to you.
| Activity type | Typical federal tax treatment* |
|---|---|
| Selling a coin for dollars | Capital gain or loss — based on cost vs sale price |
| Swapping tokens | Gain or loss calculation — at the time of the exchange |
| Spending via crypto card | Gain or loss — plus the purchase cost of what you buy |
| Mining rewards | Ordinary income at fair market value once received |
*High-level overview only — your situation might be distinct.
Cryptocurrency Tax Preparation Help You Avoid Tax Issues
Thoughtful cryptocurrency tax preparation lowers the chance of penalty payments — or surprise balances due after filing.
Common problems we help with are outlined below:
- Unclear links between digital asset activity and amounts shown on prior returns
- Confusion about whether items are in the scope of gains or income or business revenue
- A lack of planning around timing disposals or using losses and budgeting for estimated payments
Reach out to Our Experts
You can start by booking a short call — where our team walks through your distinct situation and discusses fees. We simply focus on facts: platforms used, starting date and your expectations from this year’s return.
After the call, Maris & Associates, CPAs sends a checklist and secure upload link. Once the analysis and filing are complete, you receive exact numbers — and actions to take for future years.
FAQs
Do I have to report every digital asset trade to the IRS?
Yes. Any taxable event should be reported — even if you lost money overall.
What happens if I forget to include past years?
It is generally better to fix gaps before an inquiry arrives with corrected returns that align your filing with reality and may reduce penalties.
Can you help if I used several exchanges — and lost some records?
Yes. With remaining records and blockchain tools & bank statements — we can generally rebuild a reasonable picture of the activities.
Do I owe tax if I used crypto to buy goods or services?
Yes. Spending coins is treated like selling them — so it can trigger gain or loss that falls under crypto taxation rules.
Can you handle cryptocurrency tax preparation for my LLC or corporation?
Yes. We present cryptocurrency tax preparation and filing services for both individual taxpayers and business establishments.
Are DeFi rewards, yield, and airdrops taxable?
In most cases yes — because they are treated as income at the time you receive them in parallel to the current crypto taxation rules.
Is there a minimum amount before I should hire cryptocurrency tax services?
No. Even small amounts can create reporting duties — and cryptocurrency tax services can present aid in staying fully accurate from the start point.