Decentralized Finance, or DeFi, allows traders to access services like trading, borrowing, and lending without the use of financial institutions or middlemen (such as a centralized exchange, like Coinbase). DeFi exchanges utilize automated market-making - rather than depending on an exchange’s liquidity - by using liquidity provided by ordinary traders who pool their holdings together with other traders to create supply.
Our guide explains what DeFi is and how your activities with DeFi are taxed. We also explore yield farming, the tax treatment of lending, liquidity pooling, loans, and much more.
The crypto markets are having a volatile 2021, and that means you probably lost money on your cryptocurrencies. But, we have good news! There is a smart tax strategy called crypto tax-loss harvesting that will help you reduce your losses and your tax burden.
Since cryptocurrency is treated as “property” under IRS rules, that means the same capital gains rules apply to taxes on cryptocurrency gains. So if you had losses from your crypto investments in 2021, make sure to read this crypto tax guide to save up to $3,000 on your income taxes.
Do some of your clients own crypto? Do they have to explain to you what cryptocurrency is? Would you like to improve your expertise in the area of crypto taxation? If you answered yes to any of these questions, this crypto tax guide is for you!
Download now to learn everything you need to know about how to help your clients prepare and file their crypto taxes.