Jason M. Tyra, CPA, PLLC specializes in providing comprehensive tax, legal, and consulting services tailored for the virtual currency community. With pioneering expertise in Bitcoin consulting and cryptocurrency compliance, our firm stands among the elite few equipped to navigate the complexities of digital asset management.
Navigating Cryptocurrency Compliance Risks
Virtual currencies like Bitcoin present unique regulatory challenges that demand specialized attention. Key risks include:
- Heightened regulatory scrutiny for businesses and investors
- Complex tax reporting requirements
- Security vulnerabilities in asset management
👉 Discover expert crypto compliance strategies to safeguard your investments while meeting all legal obligations.
Serving Leaders in the Cryptocurrency Space
Our client portfolio includes:
- Prominent Bitcoin and Blockchain innovators
- Businesses utilizing crypto for payments and wealth storage
- Investors requiring audit, accounting, or tax services
We've handled diverse engagements from system implementations to IRS compliance, earning recognition across the crypto ecosystem.
Understanding Cryptocurrency: Opportunities and Challenges
Benefits of Digital Assets
- Decentralized financial systems
- Blockchain innovation (NFTs, smart contracts)
- Global investment opportunities
Critical Risks to Mitigate
- Irrecoverable loss of private keys
- Evolving IRS regulations
- Volatile asset valuation
Pro Tip: Estate planning is essential for crypto investors to protect assets and provide family security.
Cryptocurrency Tax Compliance Guide
The IRS classifies virtual currencies as taxable property under Notice 2014-21. Key reporting requirements:
| Reporting Element | Details Required |
|---|---|
| Asset Type | Bitcoin, Ethereum, etc. |
| Acquisition Date | When purchased or mined |
| Disposition Details | Sale/trade dates and values |
| Gain/Loss Calculations | Cost basis and profit margins |
All transactions must be reported via Form 8949. Our team provides:
- Comprehensive tax preparation
- Loss/gain calculations
- Deduction optimization
👉 Get personalized crypto tax assistance to avoid costly filing errors.
Legal Protection for Crypto Assets
Estate Planning Essentials
- Step-by-step access instructions for heirs
- Market volatility contingency plans
- Trust structures for asset protection
Crypto-Specific Trusts
- Revocable trusts for flexible management
- Fiduciary controls for decentralized assets
- Probate avoidance strategies
FAQ: Cryptocurrency Consulting
Q: How does the IRS track cryptocurrency transactions?
A: Through exchange 1099 forms and blockchain analysis tools. Proper reporting is critical.
Q: Can lost Bitcoin be recovered?
A: Without private keys or estate planning provisions, recovery is typically impossible.
Q: What's the first step for crypto tax compliance?
A: Document all transactions with dates, values, and counterparties before consulting a specialist.
Q: Are NFT sales taxable?
A: Yes, treated as property sales with capital gains implications.
Take Action to Secure Your Crypto Future
Whether you need tax strategy, estate planning, or compliance consulting, our firm delivers:
- 50-state U.S. tax services
- Remote collaboration with military-grade security
- Discreet handling of high-value portfolios
Contact us for a confidential consultation or explore our blog for ongoing crypto insights.
👉 Start optimizing your crypto strategy today with industry-leading expertise.