Entering the world of crypto can be both exciting and overwhelming, as there is so much to learn. On top of that, how do you keep track of all your crypto transactions and taxes?
That's why it’s important to work with someone who knows the industry to file your crypto taxes correctly and according to code.
Based out of Steinbach Manitoba in Canada, Correcords Bookkeeping can help simplify your crypto tax implications and planning so that you can focus on your own business. They understand the highs and lows of investing in crypto, as some of their team members also engage and invest in the crypto space, in areas of passive and active investing, NFTs, DeFi yield farming, mining and trading.
Each aspect comes with its own complexities, and it requires a strong understanding of that space before engaging in sorting out the tax implications. This is why it’s so important that you have a cryptocurrency tax accountant that doesn’t just understand the cryptocurrency market but also has systems in place to calculate your tax outcomes as efficiently as possible.
It is not worth the hassle of getting the Canada Revenue Agency (CRA) or Internal Revenue Service (IRS) to audit your crypto activities without professional support. Let Correcords Bookkeeping assist you in becoming a successful crypto investor.
Crypto tax is a complex area with a lot of room for misunderstanding and mistakes. Especially when it comes to the CRA and the tax implications of crypto investments. That’s why it can be problematic to do it on your own. Just the thought of calculating your own cryptocurrency tax obligations can be overwhelming.
With the CRA cracking down on crypto tax evasion, you don’t want to risk unnecessary taxation penalties. Having a great crypto accountant like Correcords can help save you from hefty tax bills. Plus, a qualified accountant can also make sure that you don’t miss out on any tax advantages that may have been created by cryptocurrency too.
Easily generate your tax forms with Koinly.