This book was written out of passion for American crypto-traders who were filing their tax returns incorrectly – making themselves vulnerable to IRS examinations and penalties. This book is an absolute must for every trader to be safe and sleep well at night.
This book shows how to prepare your own tax return using consumer tax software. Also included is a second e-book with a real tax return and FBAR created using the 10 Steps with explanation of how it was done.
This book takes time to explain the reasoning behind the strategy. It explains how the IRS will select returns to examine, and how to reduce your chance of getting selected.
This is not a fluffy book. It is 130 pages long. There are 80 footnotes with references to laws, regulations, and court cases. This book can save you tens of thousands of dollars. Read the book and learn why.
The urgency of preparing a great tax return
Step 1) Reporting 1099 forms
Step 2) Keeping your own records
Step 3) Reporting non-investment income
Step 4) Reporting investment income and capital gains
Step 5) Disclosing assumptions
Step 6) Reporting foreign assets
Step 7) Reporting foreign accounts
Step 8) Completing Schedule B
Step 9) When to get professional help
Step 10) Paying estimated taxes
Sample crypto tax return with explanation
There is also a bonus link to a paper on picking the best consumer tax software product for filing a crypto tax return. There is also an offer for a professional 8275 Disclosure agreement.
The Price Value of This Book
My passion is to help as many traders as fast as possible.
The steps in this book should keep you from having to hire a tax attorney. Their rates are $225 – $500 per hour. You will find the vast majority of tax attorneys don’t even know the information in this book because they never deal with foreign reporting obligations. That’s how valuable this book is to you.
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About the Author
Clinton Donnelly is an Enrolled Agent with a law degree specializing in the international laws of financial regulation and taxation. As an Enrolled Agent he is admitted to practice before the IRS to represent taxpayers worldwide which is exactly what he does. He has clients in 47 different countries. In 2018, he helped 97 clients recover over $600,000 back from the IRS.
Many of his clients are cryptocurrency traders around the world. His largest trader did over 120,000 transactions. No situation is too complicated.
He was a tax law advisor to a crypto tax prep firm. He was also a trusted tax adviser to three of the online crypto capital gains tax services and a US exchange.
He is an author of three books and is a sought-after conference speaker for digital nomads, expats, and cryptotraders.
He specializes in preparing tax returns and resolving IRS problems for cryptotraders and Americans abroad or owning foreign assets.