Web3 CPA Firm for Bitcoin, Cryptocurrency, and DAOs

Investing in the Blockchain: Bitcoin, Cryptocurrencies, and NFTs for Investors and Businesses

Cryptocurrency and NFTs represent emerging asset classes. Web3 Technologies, including Blockchain, offer intriguing new infrastructure options that are reshaping web development. Investors delving into Bitcoin and Cryptocurrencies have faced a rapid learning curve on various compliance issues. Our journey with these financial instruments began in 2014, marking our early commitment as a Bitcoin CPA.

Understanding compliance concerns is straightforward and doesn’t necessarily require a dedicated cryptocurrency accountant. However, many CPAs lack experience in generating documents for financial instruments without regulated brokerage statements. As a pioneering Bitcoin Accountant, Bette developed proprietary systems for managing Schedule D filings long before the demand for dedicated cryptocurrency CPAs emerged.

Today, we are uniquely positioned to guide our clients through this dynamic realm of investment and wealth-building.

Compliance for All Cryptocurrencies

We Can Help Regardless of Your Trading Strategy!

Major marketplaces offer convenient tools and APIs for faster integration, but rest assured, we’re equipped to cater to your needs, whether you use mainstream wallets or prefer to safeguard your coins in cold storage. Collaboratively, we will devise tracking and reporting strategies that ensure full compliance with both state and Federal reporting requirements.

While it’s evident that being on a mainstream platform can reduce your compliance costs, we firmly believe that the potential for substantial gains should not be sacrificed for the sake of minor savings come tax time. If your strategy necessitates customized tracking and reporting, our cryptocurrency CPA firm is ready to establish the requisite systems.

Our expert cryptocurrency accountants possess the expertise to manage your records effectively across all platforms.

Cryptocurrency Compliance

NFTs and Other Instruments

New and Novel Securities

NFTs, short for non-fungible tokens, represent an innovative asset class within the realm of Web3. While NFTs initially gained prominence for their association with JPEG images, their underlying technology introduces a novel and potent approach to the transfer of digital rights. The art community has readily embraced NFTs as a solution to ownership and scarcity challenges presented by the era of perfect digital replication.

However, the landscape is evolving, with the emergence of real-world asset-backed NFTs and real estate tokenization via NFTs, among other blockchain security assets, challenging the status quo. Those engaged in NFT trading may encounter compliance matters, ranging from straightforward to intricate. Meanwhile, individuals involved in the creation of NFTs should also consider the potential tax implications of this new revenue stream.

NFT Creators and Traders

DAOs – Decentralized Autonomous Organizations

Compliance Issues for New Legal Structures

The internet and the rise of new technologies have led to a transformation of traditional business models. Established structures such as corporations, dating back to the 1600s, and limited liability companies (LLCs), introduced in 1977, may seem out of place in today’s world of international business, where ownership can change hands instantly.

The concept of the DAO (Decentralized Autonomous Organization) challenges existing legal frameworks for managing autonomous organizations without a central physical location for tax authorities to assert jurisdiction. The notion of ‘nexus,’ or the location where business activities occur, raises interesting questions about how these new DAOs will be regulated and taxed.

For those operating DAOs from within the United States, thoughtful consideration is crucial regarding their approach to the IRS and state treasury departments to ensure compliance.

Services for DAOs

Bitcoin and Cryptocurrencies to Traditional Assets

Wealth Building Techniques for All Investors

Most of our cryptocurrency investors have a diversified portfolio, but others stumbled into an opportunity and are looking to diversify. Whether you are realizing millions in capital gains to deploy in real estate, stocks, and bonds, or simply have crypto as part of your larger wealth strategy, we are here for your compliance and financial needs. We work with you and your financial planners to look at finances holistically, managing your full financial picture and making sure that you are utilized the right financial instruments to hit your goals.

Bitcoin Compliance

Wealth Building for Entrepreneurs and Investors

Multigenerational Wealth from Cryptocurrency

Those that have established large amounts of wealth quickly are concerned with how to manage it. Our expertise is helping business owners build their wealth by creating more income generating assets. We work with a variety of financial advisors that can help you execute a variety of tax and wealth building strategies. Each client is different, and there is no cookie-cutter solution to tax and wealth for high networth individuals. We’ll help you comply with the law, pay the minimal but required taxes, and then use your wealth to create a legacy that can outlast you.