Decentralized Finance, or DeFi, allows traders to access services like trading, borrowing, and lending without the use of a middleman. By eliminating middlemen from transactions, DeFi aims to make transactions cheaper, faster, and more efficient.
In our guide, we cover everything you need to know about how investors are currently making money off of the DeFi ecosystem, the specific types of DeFi transactions and their correlated taxes, and an overview of how DeFi transactions are taxed.
The crypto markets are having a volatile 2020, and that means you probably lost money on your cryptocurrencies. But, we have good news! There is a smart tax strategy called 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. So if you had losses from your crypto investments in 2020, 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 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 guide is for you!
Download now to learn everything you need to know to help your clients prepare their crypto taxes.