What to Bring to Your Accountant

Crypto tax compliance does not require becoming a specialist. It requires one habit and one conversation. The habit: record the dollar value of every crypto payment at the time it arrives. Most payment processors display this automatically and include it in transaction exports. If the business uses automatic conversion to dollars, the processor has already done the calculation. The record just needs to be kept. The conversation: before the first full tax year of accepting crypto, talk to an accountant or tax advisor. Bring the name of the payment processor, a sample transaction export showing dollar values, and any questions about how the income will be reported. A one-hour conversation at the start saves a much longer conversation at the end. Tools like Bitwave and Breezing connect crypto transaction data directly to QuickBooks^[1], automating the record-keeping for businesses with higher volumes^[2]. For a small business with a handful of crypto payments per month, a simple export from the payment processor is usually enough to start.