Everything Tax Professionals Should Know About Crypto and Taxes
ATLANTA, March 15, 2022 /PRNewswire/ — Ledgible, the leading professional-first platform for tax and accounting of crypto assets, has introduced its professional resource knowledge base on crypto and taxes for tax professionals and direct filers alike. The Ledgible knowledge base (https://ledgible.io/news-and-knowledge/) regularly shares updates and resources from Ledgible’s crypto experts with topics range from the evolution of cryptocurrency and why it’s volatile to best practices for reporting crypto and a professional tax filing guide.
“For any tax professional whose clients answer yes to the IRS question about cryptocurrency needs to check out the resource and knowledge base from Ledgible,” said Kell Canty, CEO of Ledgible. “Holders of cryptocurrency do not receive monthly statements and traditional tax packages cannot accurately account for all crypto transactions.”
The knowledge base includes the latest news from Legible, a blog with things to know about crypto and taxes, learning resources featuring product guides and tutorials, frequently asked questions and a list of supported integrations for crypto tax filing. It includes white papers, checklists, fact sheets and everything a tax professional should know about crypto and taxes – and how to properly submit them to the IRS.
To pull all of those wallet and exchange transactions together with accurate values for each and every transaction can be a time-consuming process. Every crypto event adds to the gain or loss that must be declared. This leads to reporting difficulties and potential miscalculations when reporting to the IRS. Ledgible Crypto makes it easy for tax professionals to connect client exchange accounts and wallets to identify taxable transactions, calculate the correct tax gain/loss, produce the IRS Form 8949 and import the results directly into traditional tax packages. The Ledgible Crypto Platform is the bridge between cryptoassets and traditional financial accounting.
Ledgible is an AICPA SOC 1 & 2 assured tax reporting and portfolio tracking platform for crypto assets for professionals, enterprises, and consumers. The Ledgible Crypto Platform is the proven crypto asset solution for tax and accounting professionals with leading accounting firms, institutions, and major crypto companies globally. Ledgible Crypto Tax Pro is used by thousands of firms to make tax reporting easy for their professionals and clients. For more information, visit ledgible.io.