When Bitcoin reached its most recent all-time-high in late 2017, a vast number of individuals were first introduced not only to the idea of digital assets but also the allure of speculative trading. Many subsequently made their first trades during 2018 as a result and are only now beginning to grapple with the tax implications. There are a number of resources out there which provide information, but in an asset class so incredibly new, some sources contradict others. For many new to the world of digital assets, questions and uncertainties remain when it comes to reporting their income to the IRS.
It’s with this in mind that we are providing some incentive and direction to make the process less anxiety-provoking and more methodical.
Today we’re introducing a special offer (for US users in particular) for the comprehensive pairing of CoinTracking and educational courses by Crypto Tax Girl, a practicing CPA in the United States whose mission is to demystify how taxes and crypto fit together.
CoinTracking is a website which allows you to organize and evaluate your trading data. Crypto Tax Girl provides educational courses (in video format) which provide an overview on a great variety of tax-relevant topics as well as explicit instruction on how to use the CoinTracking website most effectively.
CryptoBridge is continually seeking new ways to provide quality information and resources to its users, so along with these recommendations, we are extending a 15% discount referral to either of Crypto Tax Girl’s two courses (or both as a bundle). Simply click on one of the three links below to activate your discount and proceed onto the courses.
The Complete Guide to Cryptocurrency Taxation – This course walks you through everything you need to know when it comes to crypto taxation. We will discuss taxable events, gains, losses, trading, like-kind exchanges, mining, forks, and more! It also explains the differences between the 2017 and 2018 tax laws, as they apply to crypto, and some general tax strategies for you to use going forward. It will guide you through the tax consequences of each transaction and help you avoid costly errors on your taxes.
How to Really Use CoinTracking – This course teaches you how to upload data from exchanges, enter forks, airdrops, and ICOs, how to upload data from exchanges or wallets that are not supported by CoinTracking, how to enter gifts, mining income, spends, and over the counter purchases, how to match up prices, common errors to look out for, how to review your data and make sure your data balances, how to pull the gain loss report and report it correctly on your tax return, and then how to interpret the data and use it to your advantage so you can make smart trades and not have any surprises when it comes to tax time.
Each course allows lifetime access and has a money-back guarantee. Simply click the link above for your selection (either one of the courses, or the bundle) to activate your discount!
For maximum savings, you are also able to use Crypto Tax Girl’s referral code to CoinTracking which provides a 10% discount on any one of their levels of service. Pay in Bitcoin and receive an additional 5% is available!
Fortunately for all BitShares users, exporting your entire trade history is remarkably easy. Simply visit https://wallet.bitshares.org/#/account/ and add your user name at the end of the url to view your account. Then select the “activity” tab. You will see an export button which creates a CSV file already formatted to work with CoinTracking!
We hope that these resources will be of use to our users, especially those with concerns about accurately reporting their trading activities to the United States Internal Revenue Service.
Don’t forget to follow @CryptoTaxGirl and @CoinTracking on Twitter as well!