Conquer Tax Day with these 5 crypto tax preparation software packages – Marketingwithanoy

if you’re there the 16% of Americans who transacted or traded cryptocurrency last year probably have you sweating over the approaching deadline to file your taxes (which would be Monday, April 18). And if you’re an NFT aficionado who has turned your Twitter profile picture into an image of a hexagonal, casual monkey, chances are you’ll want professional advice while submitting.

The US Internal Revenue Service is likely to thoroughly investigate and perhaps even audit those who have transacted with virtual currencies this year, Alex Roytenberg, known on Twitter as @TheNFTCPAtold Marketingwithanoy.

“Personally, I think the IRS was waiting for a big year of wealth and income, and 2021 was definitely that year,” Roytenberg said.

He added that due to the lack of formal guidance from US regulators on how to file taxes on various crypto products, the process requires taxpayers to interpret how existing laws intended to regulate traditional assets could apply to entirely new technologies. .

Roytenberg, a chartered accountant, has been a tax accountant for nearly 20 years, having worked at Morgan Stanley, Goldman Sachs and PwC. Roytenberg first came into contact with the web3 space in 2018 after advising a number of Coinbase employees, and since then he has strived to double down on the specialty, co-authoring the “NFT Tax Guide” and speaking at industry talks. events, including NFT.NYC.

While Roytenberg recommends avid crypto traders seek professional, one-on-one tax advice to clear out any gray areas, he also shared his thoughts with Marketingwithanoy on some crypto tax preparation packages that could be helpful to filers this year.

Here is an overview of some of the more popular platforms available to crypto tax applicants today.

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