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Canada Revenue Agency and IRS under US Department of Treasury have classified digital currency or cryptocurrencies as a form of commodity and as an asset similar to a property. Depending on the type of crypto transactions, they are subjected to various types of taxes and compliance. Since cryptocurrencies are legal in most parts of the world, the losses and gains on crypto exchange and trading are reported as either business income or capital gains.

Nevertheless, as the blockchain and cryptocurrency market is steadily gaining traction and have been more mainstream in the past few years, accounting and taxation services for crypto traders and companies have become even more complicated. It is, therefore, important that you handle your crypto trading profile with in-depth analysis and determine the liability of tax filings through strict measures and compliance. Since calculating cryptocurrency profit and loss margins and overall crypto asset management can be a tedious task, availing professional assistance proves to be best in the course of action.

Our professional team of accountants are well versed in crypto finance evaluation, cross-border/international taxes, reporting, and determining obligatory tax implications. We have extensive knowledge in IRS rules, tax laws, and cryptocurrency income compliance and provide a full range of accounting and advisory services while fulfilling the unique needs of all altcoins traders and crypto exchanges.