The words crypto and taxes can be a combination that causes people a lot of stress – or at least a big headache. Because regulation around cryptocurrency and US tax law has been a little murky – it’s left people confused on how to properly account for their crypto activity. In this interview with we chat all about this topic to hopefully clear things up for people.
David Kemmerer is the founder of CryptoTrader.Tax – which is basically a plug and play software for calculating your taxable events when it comes to crypto activity that happened on an exchange. Their software generates a report that you can automatically import into DIY tax software like Turbo Tax and Tax Act, but it can also be used by those who hire a tax accountant. Not all tax professionals are up to speed on the latest regulations with cryptocurrency, and so handing that report to your accountant can help you make sure that everything is filed correctly.
Whatever your views on taxation of crypto, I think it’s still an important topic to discuss and understand and I really hope that many of you find this interview to be helpful!
I’m a big fan of any project that can help increase crypto adoption and makes onboarding easier for the masses. Having a user-friendly software that can take the stress out of taxes is a great tool to get your average investor more interested in crypto.
If you have any other tax questions that we didn’t cover in this interview – I know the CryptoTrader.Tax team is super responsive on twitter and I’ve seen them answering tons of questions when people tweet them. You can find their twitter handle and other social links below:
🔗CryptoTrader.Tax Social Links
Website – CryptoTrader.Tax
Twitter – twitter.com/@CryptoTraderTax
David Twitter – twitter.com/@David_Kemmerer