Crypto Tax Services
The dream of never paying taxes on your cryptocurrency gains is a thing of the past. Taxpayers must take the IRS seriously and educate themselves about their tax reporting obligations.
It's no secret, taxes are complicated. If we add in the uncertain landscape of the crypto-tax rules, they become even more complicated.
Let us help. To bring you into tax compliance with the IRS, HARP LAW offers two basic services:
(1) General Consultations (Scheduled Instantly Online)
(2) Tax Assistance for Reporting Cryptocurrency Income, Gains & Losses
(1) General Consultation
This is a no strings attached initial general consultation with Attorney Hadi Harp to answer your general questions and provide you with a roadmap to come into tax reporting compliance.
Get answers to questions such as:
Which crypto transactions are taxable events?
Do crypto-to-crypto trades qualify for like-kind exchanges under IRC 1031?
Where and how do I report my cryptocurrency gains and losses?
I received payment for services or goods in cryptocurrency, it that taxable? Does that get the same treatment as gains from trades?
Someone paid me in Bitcoin or Ethereum, is that taxable?
Are hardforks and airdrops taxable?
What are capital gains? Are they short term or long term?
Can I claim any cryptocurrency losses? Is anything deductible?
I'm starting a cryptocurrency adjacent business, should I form an LLC to do that?
Consultation Flat Fee: $199
Note, by scheduling a Crypto-Tax General Consultation you acknowledge that only a signed engagement letter between you and attorney Hadi Harp will establish an attorney-client relationship. All discussions during the initial consultation however shall remain confidential.
(2) Tax Reporting Assistance
After scheduling a Crypto Tax General Consultation above, it may be possible for us to work together further. Specifically, we may be able to assist in sorting out your crypto-related tax obligations so they can be properly accounted for and reported to the IRS and/or FinCen.
If its determined during the general consultation that there might be benefits to working together further, the process for moving forward is pretty simple.
Step 1. After providing us with your trade and exchange data, we provide you with a flat fee price estimate.
Step 2. If agreeable, we send you our standard client engagement letter for review and electronic signature.
Step 3. You sit back while we sort through and audit your trades for internal logic and accuracy. We might have some questions for you during this process.
Step 4. After fully reconciling your trades, we prepare the tax forms required to properly account for your crypto income, gains, and transactions. We also prepare an instructional cover letter to give to your tax preparer or CPA so that they can utilize the forms in your tax return.
* Note, we do not prepare or file your tax return. We only prepare the crypto-related tax forms so they can be incorporated into your tax return by your tax-preparer and/or CPA.
Tax Reporting Assistance Fee: Varies based on complexity involved.