Micah Fraim, CPA

Despite the fact that most protocols have been for several years, the had not issued any guidance on rewards until recently. We dig into the of those rewards in our latest article: https://cryptotaxcpa.com/irs-guidance-staking-income/

IRS Breaks Silence on Staking Income - Crypto Tax CPA The IRS has finally issued guidance on the taxation of staking income. How are staking rewards taxed and what else should investors know?

We have the first comments on ! Its our first look at the methodology the IRS intends to use, but it still leaves a lot of questions unanswered: https://cryptotaxcpa.com/irs-nft-taxation-collectible/

First Words From IRS on NFT Taxation - The IRS has finally broken its silence on NFTs and indicates SOME will be taxed as collectibles. Other major questions remain unanswered.

Talking about some new laws on that can save owners HUGE amounts of :

You Can Deduct More Now #shorts See full video to learn more: https://www.youtube.com/watch?v=q6VVgdg6n7cSee more videos from us: https://www.youtube.com/

Is talking about your past accomplishments and glory days an effective marketing strategy? When does this help and when does it hurt? And to what extent should these past events dominate your CURRENT discussions?

“What Have You Done For Me Lately?” – A Fresh Look - Fraim, Cawley & Company, CPAs How much and often should past accomplishments be in our marketing? Is it helpful or are we living in the past talking about glory days?

Some crypto bros like to say that you can write off worthless tokens and without actually disposing of them. That can be true, but only in very limited circumstances. The IRS just issued additional guidance on what you can and cannot write off: https://cryptotaxcpa.com/crypto-value-decline-deduction/

IRS Says Decline in Crypto Value Is Not a Tax Deduction Can you write off crypto tokens or NFTs that have declined in value without actually disposing of them? The IRS has issued some new guidance

If you're planning on donating any , make sure to read this first. This is going to catch a lot of investors by surprise: https://cryptotaxcpa.com/appraisals-crypto-charity-donations/

IRS: Appraisals Required to Deduct Crypto Donations - Crypto Tax CPA The IRS says that a qualified appraisal is required for crypto donations over $5k, including Bitcoin. Why? And how can you plan for taxes?

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investors were hoping that the Jarrett lawsuit against the would provide clarity on how income should be taxed. But unfortunately the courts dismissed the lawsuit. Why was it dismissed and where does this leave ? https://cryptotaxcpa.com/staking-jarrett-lawsuit-dismissal/

No Staking Clarity After Jarrett Lawsuit Dismissal Last year we wrote a series of articles talking about the Jarrett v. U.S lawsuit and its implications for the taxability of staking income. The first talked about the core arguments of the lawsuit itself and the second went into some of the interesting comments from the IRS’s pleadings in the case...

Last week we published our article on the failure and the specific deductions that could be available for people who held funds on it. But that deduction is not available for funds held on most exchanges. If you held funds on , , or other exchanges that have gone insolvent, this article explains how to take those deductions on your taxes: https://cryptotaxcpa.com/crypto-insolvent-bankrupt-exchanges/

Tax Write-Offs for Crypto Held on Insolvent and Bankrupt Exchanges Crypto investors are likely to get tax write-offs from assets held on insolvent exchanges, but they are probably going to have to wait a while. Exchanges simply freezing withdrawals (or even declaring bankruptcy) is not enough. The assets must be deemed fully worthless and totally unrecoverable befo...

Anyone who lost funds on should look at the special deductions available for victims of schemes: https://cryptotaxcpa.com/theft-losses-crypto-exchange-failures/

Casualty and Theft Losses From Crypto Exchange Failures There is no clear consensus on whether or not crypto investors are able to take casualty or theft losses for funds held on defunct crypto exchanges. Many experts say it is not allowed under the 2018 Tax Cuts and Jobs Act (TCJA) revisions, while others point to special provisions outlined in 2009 for...

Crypto Winter and bear markets provide a lot of opportunities that don't exist during a bull run. One of the more counterintuitive strategies: actually ACCELERATING your income: https://cryptotaxcpa.com/bear-market-crypto-winter-opportunities/

Bear Market and Crypto Winter Opportunities: Accelerate Income Accelerating and increasing your income can be a good strategy during a bear market. You will pay the taxes sooner, but it may save you significantly in the long run.Pay Tax Now, Save LaterThis next strategy is counterintuitive: actively working to increase your income and generate taxable events so...

Had a great time talking with Malcolm Ethridge on the Tech Money podcast discussing and . Always enjoy when we're able to get into some of the more technical components, which definitely happened here. https://tech-money.com/podcast/60/

60. The Ins and Outs of Crypto Taxes with Micah Fraim - Tech Money As anyone who has ever bought and sold any sort of digital asset in the last couple years can attest, the rules and regulations around reporting those transactions to the IRS can be very fuzzy. Coupled with the lack of information made available by the...

Had a great time talking with JP McAvoy on The Millionaire's Lawyer podcast talking about and taxation: https://jpmcavoy.com/micah-fraim/

Micah Fraim - The Millionaire's Lawyer Micah Fraim joins your host JP McAvoy to discuss all things CRYPTO and the possible taxations! Click here for more.

With still in full swing, what are some opportunities specific to the that you can take advantage of? https://cryptotaxcpa.com/tax-loss-harvesting/

Bear Market and Crypto Winter Opportunities: Tax-Loss Harvesting Most people aren’t making a ton of money in crypto right now. The market is down substantially and a lot of people – especially those who got involved in crypto more recently – are underwater. As we’ve mentioned in other articles, we have people coming to us who made millions of dollars last...

Lessons in Automation From a 17th Century Painter Think your business is too unique to automate? Think again! Find out how Sir Peter Lely created thousands more paintings than his competitors

Does and your create a taxable event? https://cryptotaxcpa.com/wrapping-crypto-taxable/

Are Wrapping and Unwrapping Crypto Tokens Taxable Events? Wrapping Bitcoin and other tokens allows them to be used on different networks. Is the act of wrapping and unwrapping these tokens taxable? Some experts say yes and some say no. We’ll discuss both theories in more detail in this article. What Are Wrapped Tokens? We’ve already talked about wrappe...

What's the best accounting method for your crypto trading? , , , or the method? The answer largely depends on your personal investing strategy: https://cryptotaxcpa.com/fifo-hifo-lifo-crypto-tax/

Had a blast talking about crypto taxes on the Joe Robert Show!

Crypto Tax CPA: MAXIMIZE Your Crypto Tax Advantages | MICAH FRAIM, CPA Crypto Tax CPA: MAXIMIZE Your Crypto Tax Advantages | MICAH FRAIM, CPAMicah Fraim is the founder of Crypto Tax CPA, as well as Fraim, Cawley & Company, CPAs....

How are liquidity pools taxed? When are the rewards taxable? And are your entry/exit from them taxable events? https://cryptotaxcpa.com/liquidity-pools-taxed/

How Are Liquidity Pools Taxed? The IRS has not issued any guidance on the taxation of liquidity pools. That said, there are a few prevailing theories on whether or not the entry into and exit out of the LP are taxable events, which we will discuss in this article. The earnings within the pool itself are taxable income.No IRS Guid...