Year-round planning
- An estimate of what you'll owe, before year-end
- Quarterly estimated tax payments for self-employed clients (Form 1040-ES)
- Deductions and credits to plan around
- Retirement contributions that can lower your taxable income, such as an IRA, SEP-IRA or Solo 401(k)
- Choosing a business structure, and timing an S-Corp election
- Planning around life changes: marriage, a new child, buying a home or starting a business
Crypto tax planning
- Reporting sales, trades and swaps (Form 8949 and Schedule D)
- Staking, mining and reward income
- Working out your cost basis across exchanges and wallets
- Reviewing the tax forms your crypto exchanges send you
- Fixing crypto activity that was left off past returns
Common questions
When should I start planning?
Ideally before December 31. Many tax-saving moves have to happen within the tax year to count.
Do I owe tax on crypto if I never cashed out?
Possibly. Trading one cryptocurrency for another is generally a taxable event, even if you never converted to dollars. Simply buying and holding is not taxed until you sell, trade or spend it.