Crypto tax laws and regulations are complex and ever-changing, making tax time a nightmare for many individuals and businesses. If you have a complicated return or ongoing accounting needs, crypto tax and accounting firms can help you remain accurate and compliant. And in many cases, they can also help lower your tax bill.
In this article, we’ll look at some of the best crypto tax and accounting firms and why you may want to consider them.
Should You Hire Help?
The IRS’ lack of crypto tax guidance has made it challenging to file returns accurately. While the agency clarified some matters in 2014 and 2019, the tax treatment of wrapped cryptocurrencies, DeFi lending protocols, and other market corners remain ambiguous. And accountants can help ensure you make defensible decisions.
At the same time, the agency has stepped up its crypto enforcement activities. For example, adding the “crypto question” to the top of Form 1040 set the stage to prosecute individuals that lie about their crypto ownership. Meanwhile, it has invested in blockchain experts and technologies to track down tax dodgers.
And finally, a better understanding of crypto taxes can help you save a lot of money. For example, determining the right accounting method to use could help you save hundreds or thousands of dollars. And if you need an accountant to help make that determination, the benefits far outweigh the costs, making it a no-brainer for many taxpayers.
#1. Mac Tax
Mac Tax (Macari CPA P.C.) is a tax and accounting firm offering a comprehensive list of services for individuals and businesses. In addition to traditional tax and accounting services, the firm specializes in cryptocurrency and non-fungible token (NFT) tax preparation and holds a “Tax Professional” designation on our platform.
The firm’s founder Justin Macari, CPA, also posts helpful crypto-related tax content on TikTok, Instagram, LinkedIn, and Spotify. For example, he recently discussed everything from the IRS warning letters to how NFT taxes work. And the firm’s educational podcast teaches you helpful topics in a more in-depth medium (including many crypto topics).
#2. Baker Tilly
Baker Tilly is a top-ten advisory, tax, and assurance firm with deep experience with digital assets. If you run a crypto business or have substantial personal assets, the firm can help with everything from coming up with a tax strategy to providing CFO advisory services to help business owners meet the challenges of crypto.
For example, the firm can help manage smart contract risks, conduct internal audits, implement BSA/AML solutions, or even advise on public company readiness through an initial public offering (IPO), special purpose acquisition company (SPAC), or other vehicles.
MoonTax is a crypto-native tax consulting firm. While they’re not a CPA firm, they can help organize the crypto portion of your tax return, after which a conventional CPA can take over and complete the return. And since inception, they’ve helped their clients save over $15 million in miscalculated capital and income events.
After a free 30-minute discovery call and account review, the firm offers consultations or a hands-off tax reconciliation. They prepare the crypto-focused tax documents and forms your CPA needs to file taxes, such as your Form 8949 and Schedule D. It’s a great option if you have some complex crypto taxes happening.
#4. Crypto Tax Man
Crypto Tax Man is actually a team of financial professionals who have been navigating the finance industry for decades. They provide services similar to MoonTax, helping individuals reconcile crypto transactions across wallets and exchanges. After completing these reports, for an additional fee, one of their CPA partners can help file taxes.
#5. Darien Advisors
Darien Advisors is an efficient, human-focused crypto tax and advisory firm. The firm provides crypto-specific reporting for those with their own CPAs or advisory services for businesses or individuals looking to outsource the entire process. Over the years, they’ve worked with over 500 clients, including individuals, funds, DOAs, validators, and NFTs.
Unlike many other crypto accountants, the firm employs a team of professionals personally invested in the space. These partners include DeFi and ReFi degens, Web3 contributors, DAO participants, NFT collectors, and P2E gamers. In fact, their team is paid in crypto and loves going down the rabbit hole to find the best solutions.
#6. Crypto Tax Girl
Crypto Tax Girl has specialized in the cryptocurrency space since 2017. They offer tax consultations, crypto gain and loss reports, tax filing services, and tax advisory services.
In addition, Crypto Tax Girl offers a course teaching individuals how to calculate crypto taxes and file them on their own. The course covers everything from how to enter NFT purchases to identifying holes in your data and how to clean it up. After you’re done, you’ll be well-prepared to file taxes with minimal (if any) help from a professional.
#7. Gordon Law
Gordon Law Group is an award-winning Chicago law firm focused on cryptocurrency law, tax law, and business law. The firm specializes in helping clients make the most of their digital gains with comprehensive tax reports to stay out of IRS trouble.
In addition, the firm offers cryptocurrency audit defense services. If you receive a letter from the IRS, the firm can help craft a response and pull together the documents and reports you need in the event of an unlikely IRS audit.
#8. Bugaboo Bookkeeping
Bugaboo Bookkeeping is a virtual bookkeeping firm serving small business owners, freelancers, and self-employed individuals across the U.S. They also offer cryptocurrency bookkeeping tax preparation for small businesses with crypto income or individuals with crypto trades.
The firm specializes in helping with everything from basic crypto trades to yield farming/staking, airdrops, or income from interest or mining activities. They also regularly track tax reform news and maintain relationships with outside experts to ensure accurate filings.
#9. Edgewater CPA Group
Edgewater CPA Group has provided professional accounting services to business owners in Indiana and throughout the U.S. since 2008. In particular, the firm specializes in helping clients who trade or mine cryptocurrencies. They work with all types of crypto transactions and accept data from every digital currency trading exchange on the market.
#10. AKIF CPA
AKIF CPA is an accounting and bookkeeping firm that takes a holistic, business-based approach to crypto accounting to help clients get the most out of their crypto assets and blockchain-based finances.
The firm helps with standard crypto reporting, capital gains and income, and provides business support to companies involved with mining, Web3, NFT minting and royalties, or operating validator nodes and dApps.
#11. DKS Tax & Consulting
DKS Tax & Consulting is a full service accounting firm for individuals and small businesses. For individuals with crypto transactions, the company provides knowledgeable tax preparation. And for crypto-focused businesses, the firm can help with yearly planning, budgeting, and other small business accounting and bookkeeping needs.
In addition to providing crypto-focused accounting services, the company offers blockchain education and consulting services, including educational seminars and industry analysis.
How ZenLedger Can Help
ZenLedger helps aggregate transactions across wallets and exchanges and compute capital gains or losses. In addition, the platform automatically generates Form 8949, Schedule D, and other forms you need to file each year. So, you can simply send the pre-filled forms to your CPA or automatically integrate them with TurboTax.
In addition to accurate filings, ZenLedger’s tax loss harvesting tool automatically analyzes your trade history and provides a list of tax savings opportunities to take advantage of before the annual December 31st deadline. That way, you can actively minimize the capital gains you owe each year and save on taxes.
And finally, you can use ZenLedger Labs to track your favorite cryptocurrencies, discover new opportunities, and build research portfolios. As a result, you can understand your existing portfolio and find new opportunities using the same platform.
The Bottom Line
Crypto taxes can quickly become a headache if you have multiple accounts or complex transactions. At the same time, many crypto businesses may need help with their day-to-day accounting. Fortunately, many crypto-focused tax and accounting firms can help you generate accurate and compliant filings or provide advisory services.
Alternatively, if you’re comfortable with a DIY approach, ZenLedger can help you generate the forms you need and/or file through TurboTax! Try it today!