Every crypto disposal is a taxable event, and mining or staking rewards are ordinary income the moment you receive them.
Selling, swapping, or spending cryptocurrency is a taxable disposal, with gain or loss measured against your cost basis.
Mining and staking rewards are taxed as ordinary income at their value when received, and that value becomes your basis for a later sale.
Income you’ll report on: 1099-B, 1099-MISC.
Most people in this line of work leave money on the table. Here's what we make sure to capture:
If you earn as an independent contractor, yes — self-employment tax is 15.3% (Social Security and Medicare) on your net profit, on top of regular income tax. You deduct half of it, and every business deduction lowers what you owe. We handle the calculation on Schedule SE.
Common write-offs include crypto tax and cost-basis tracking software, trading platform and exchange fees, mining hardware and the related electricity, for a mining business, market data and research subscriptions, plus a share of your phone and any home-office use. We go through your year line by line so nothing legitimate gets missed.
If you expect to owe $1,000 or more for the year, the IRS generally wants quarterly estimated payments to avoid an underpayment penalty. We calculate them so next April isn't a surprise.
Yes. Your income is taxable whether or not a client or platform sent a 1099. We report it correctly and offset it with every deduction you qualify for.
Tell us what you've got and we'll come back within one business day with the plan and the price · from a preparer who knows your line of work.
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