descrypt

Joined March 2023

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Crypto tax software, like Descrypt, automates record-keeping and generates accurate tax reports that can be used to file your taxes. https://www.descrypt.com/

Stories (12/0)

A Complete Guide to Understanding IRS Virtual Currency Compliance
Virtual currency, also known as cryptocurrency, has become increasingly popular in recent years, spurred by the excitement of being able to participate in a decentralized economy that exists outside the control of governments and financial institutions. As a result, the Internal Revenue Service (IRS) has been working to provide guidelines on properly reporting and paying taxes on digital currency transactions.
By descryptabout a year ago in The Chain
NFT Tax-Loss Harvesting: What it is and How it Works
NFT Tax-Loss Harvesting has become an increasingly popular tax strategy used by investors who invest in Non-fungible tokens or NFTs. These unique digital assets are stored on a blockchain, which makes them easy to transfer and trade.
By descryptabout a year ago in The Chain
DeFi Tax: Understanding Tax Implications of Decentralized Finance
DeFi, or decentralized finance, is an exciting development made possible only by cryptocurrencies and decentralized economies. Providing an alternative to traditional financial institutions, De-Fi enables users to engage in financial activities such as trading, borrowing, and lending without intermediaries. By providing alternatives to banks and lenders, De-Fi stands to reshape how we perceive financial activities online.
By descryptabout a year ago in Blush
Cryptocurrency Donations: The Future of Charitable Giving
As cryptocurrency continues to find a foothold in the way we perceive money, donations have been gaining popularity alongside wider digital asset adoption. A key feature of censorship-proof money is the ability to support causes that we believe in without restrictions. Cryptocurrency seems a natural fit for charitable giving. Charitable giving, while done with the best of intentions, comes with tax implications.
By descryptabout a year ago in Serve
Why Every Crypto Investor Needs a Tax Calculator: The Best Options for 2023
As more investors enter the world of cryptocurrencies, staying on top of tax obligations is essential. The IRS has been cracking down on crypto tax evasion, and investors who fail to report their crypto transactions accurately could face hefty penalties. That's where a crypto tax calculator can save you plenty of time, money and stress.
By descryptabout a year ago in Journal
Understanding IRS Form 8949 for Crypto Investors: A Complete Guide
Cryptocurrency investment is increasingly being seen as an unmissable asset class and gaining legitimacy. With this increased popularity comes the need to report gains and losses for tax purposes. One crucial aspect of reporting these gains and losses is the IRS Form 8949. This form is specifically designed for investors who must report capital gains or losses from selling or exchanging property, a group that now includes cryptocurrency. If you're a crypto investor, this post will walk you through completing Form 8949.
By descryptabout a year ago in Journal
The Ultimate Guide to Choosing the Best Crypto Wallet
As cryptocurrency gains popularity, the need for a secure and reliable crypto wallet is becoming increasingly important. Wallets are a vital part of participation in the cryptocurrency ecosystem, and choosing the right wallet is a huge decision you will need to make early on. Your choice can mean the difference between the safety of your funds and the risk of losing them. In this guide, we'll explore the different types of wallets, the features to look for, and the best crypto wallets available.
By descryptabout a year ago in Journal
Capital Gains Tax and Crypto: What You Need to Know
Capital gains tax are taxes applied on earnings generated by the sale of all tradeable assets. In the United States, taxpayers must disclose capital profits on their tax filings to the Internal Revenue Service (IRS).
By descryptabout a year ago in Journal
Reporting Crypto Taxes: The Do’s and Don'ts for Filing with the IRS
Crypto taxation can be complicated, but reporting your crypto taxes to the IRS is an important task that should be considered. This blog post will cover the dos and don'ts of reporting cryptocurrency taxes and provide tips for avoiding common mistakes.
By descryptabout a year ago in Journal
What is a Crypto Portfolio Manager, and Why Do You Need One?
Managing your crypto portfolio can be daunting if you are a cryptocurrency investor in the United States. With government regulations being implemented across the cryptocurrency space, maintaining a keen insight on your profits and losses is of increasing importance. While the minority of meticulous traders maintain manual records, innovation in the space is helping to remove the hassle with automation. . This is where a crypto portfolio manager comes in.
By descryptabout a year ago in Journal
The Top 3 Crypto Tracking Apps That Every Investor Needs in 2023
Looking for the best crypto tracking app to help manage your cryptocurrency investments and calculate your taxes? With tax season approaching, cut through the clutter and automate all your stay in the good books of the IRS and remain compliant with U.S. regulations.
By descryptabout a year ago in Journal
How to Stay Compliant with Cryptocurrency Tax Regulations: Your Ultimate Guide
Cryptocurrency tax compliance has become an essential part of digital asset trading. As the popularity of cryptocurrencies has grown, the IRS has increased its efforts in monitoring crypto transactions. Crypto investors are now included among the wider pool of market participants and are required to report their capital gains and profits for tax purposes.
By descryptabout a year ago in Journal

descrypt

Bio

Stories .css-19zxm0z-Text{display:inline-block;color:var(--text-default-mute);}(12/0)

A Complete Guide to Understanding IRS Virtual Currency Compliance

NFT Tax-Loss Harvesting: What it is and How it Works

DeFi Tax: Understanding Tax Implications of Decentralized Finance

Cryptocurrency Donations: The Future of Charitable Giving

Why Every Crypto Investor Needs a Tax Calculator: The Best Options for 2023

Understanding IRS Form 8949 for Crypto Investors: A Complete Guide

The Ultimate Guide to Choosing the Best Crypto Wallet

Capital Gains Tax and Crypto: What You Need to Know

Reporting Crypto Taxes: The Do’s and Don'ts for Filing with the IRS

What is a Crypto Portfolio Manager, and Why Do You Need One?

The Top 3 Crypto Tracking Apps That Every Investor Needs in 2023

How to Stay Compliant with Cryptocurrency Tax Regulations: Your Ultimate Guide

Stories (12/0)