Customized tax planning for successful cryptocurrency investors and digital business owners.
Taxes are usually the largest yearly expense for most taxpayers. Unfortunately, cryptocurrency investors and digital business owners almost never receive adequate tax advice or planning from their CPAs on how to reduce their tax bills.
To worsen this issue, most CPAs do not even have a proper understanding of cryptocurrency transactions neededin order to adequately interpret tax code sections realted to your portfolio.
The sad truth is that most cryptocurrency investors and digital business owners are leaving thousands of tax dollars on the table. We review hundreds of new tax returns each year and over 90% of them have errors or missed opportunities that cost taxpayers thousands and sometimes millions of dollars.
This is because most taxpayers only meet with their CPA once per year to file their taxes. The problem is by then, it’s way too late!
Your tax return is reporting last year's activities but to legally minimize your taxes you must implement specific strategies throughout the entire year, well in advance of year-end and tax filing season. In fact, some strategies are planned multiple years in advance.
You need to work with an experienced CPA that is looking into your future, not just what happened last year. That's why we have designed a well-tested, properly structured Tax Advisory and Ongoing Support plans.
We save digital asset investors and digital businesses thousands and cumulatively millions with effective tax planning strategies and proactive advice.
Here's how the process goes
During the initial onboarding process, you will have a consultation with your tax advisor to discuss your business, the planning process, engagement expectations and what information we will need to complete the engagement.
During our tax planning consultations your advisor will recommend relevant tax strategies to you by explaining them in detail and the resulting tax benefits associated with the tax strategies. You will learn how the Tax Code relates to your specific portfolio, business and personal taxes and get all of your questions answered.
We provide a personalized tax plan report that details each recommended tax reduction strategy. This plan is your personalized tax roadmap that details our tax strategy recommendations, estimated tax savings, tax code section references and action steps for implementation so you can refer back to this as any point as an ongoing reference.
Your tax advisor is available to you on an as needed basis throughout the year to support you as your portfolio and business grow. We provide ongoing email support and periodic check-in calls.
Our proven tax planning process is designed to provide you with a roadmap of the best strategies available to legally minimize your taxes and to protect your assets based on your current situation and future goals. Our goal is to ensure you’re not missing out on any major tax saving opportunities. Our clients normally recoup their investment in their tax plan within 1 to 2 years.
Tax Planning Packages
Minimize taxes and protect your assets
Tax Advisory
Initial Planning
- Three Advisory Calls
- Tax Strategy Roadmap Report
- Scenario Based Tax Projections
- Prior Year Tax Return Review
- Accounting System Review
Ongoing Support
- Cryptocurrency Tax Research
- Email Support
- Document Review
- On-Demand Calls
- Calls with 3rd parties
- Tax Preparation
- Cryptocurrency Accounting
- Company Accounting
Hourly
- Check-In Calls
- Document Review
- IRS Audit Letter Support
- Tax Estimates
Tax Advisory Support
Initial Planning
- Three Advisory Calls
- Tax Strategy Roadmap Report
- Scenario Based Tax Projections
- Prior Year Tax Return Review
- Accounting System Review
Ongoing Support
- Cryptocurrency Tax Research
- Email Support
- On-Demand Calls
- Calls with 3rd parties
- Document Review
- Tax Preparation
- Cryptocurrency Accounting
- Company Accounting
Hourly
- Check-In Calls
- IRS Audit Letter Support
- Tax Estimates
Tax Advisory VIP
Initial Planning
- Three Advisory Calls
- Tax Strategy Roadmap Report
- Scenario Based Tax Projections
- Prior Year Tax Return Review
- Accounting System Review
Ongoing Support
- Cryptocurrency Tax Research
- Email Support
- On-Demand Calls
- Calls with 3rd parties
- Document Review
- IRS Audit Letter Support
- Tax Estimates
- Tax Preparation
- Cryptocurrency Accounting
- Company Accounting
Quarterly
- Check-In Calls
Tax Plans Start at $4,950
Schedule A Call Today!
Total Tax Savings
$2.4Million
Total Tax Savings
$137,000+
Total Tax Savings
$128,800+
Total Tax Savings
$295,000+
Total Tax Savings
$500,000+
Total Tax Savings
$2.4Million
Total Tax Savings
$137,000+
Total Tax Savings
$128,800+
Total Tax Savings
$295,000+
Total Tax Savings
$500,000+
Total Tax Deferral
$1.1Million
Clients we helped
Paul, the managing partner of a successful Bitcoin mining company, sought our firm's assistance for tax planning. Our collaborative efforts led to significant tax-saving strategies for his business. Furthermore, our guidance allowed Paul to gain clarity on accelerating depreciation schedules for purchased equipment and assets. Moreover, our firm aided Paul in setting up and updating his accounting system to ensure accurate records for past transactions. This enhancement provided comprehensive financial visibility and facilitated precise tax planning and compliance strategies.
Mining Operation
William, a successful NFT artist, sought our firm's assistance for tax planning, aiming to optimize his financial structure. In addition to tax planning, our collaboration led to the implementation of a robust accounting and tax projection system. This system not only ensured up-to-date financial records but also enabled William to stay proactive with estimated IRS tax payments. By proactively converting tax liabilities from ETH to USD before a significant market correction, he successfully mitigated the impact of potential market fluctuations, ensuring a more stable financial position.
NFT Artist
Chad, a thriving Web3 CEO, sought our expertise for tax planning to optimize his financial structure. Our approach centered on providing Chad with comprehensive insights and information to navigate tax-related matters. This empowered Chad to make informed decisions and leverage potential opportunities within the tax landscape while aligning with his business objectives.
Additionally, as part of our collaboration, we established a comprehensive accounting system tailored to the intricacies of Web3, integrating a sub-ledger and a general ledger. This system streamlined Chad's financial operations, offering a structured approach to manage and track transactions, ensuring accuracy, and facilitating transparent financial reporting.
Web3 CEO
Jonathan, a successful cryptocurrency investor, sought our firm's expertise for cryptocurrency accounting after facing challenges with various popular accounting software. These software tools not only overstated his profits by multiple millions but also lacked support for many transactions and blockchains he utilized. Additionally, Jonathan received inaccurate 1099s from exchanges, which failed to correctly report his cost basis. His extensive activity spanned approximately 15+ exchanges, 30+ wallets, and encompassed diverse transactions, including margin trading, several DeFi protocols, and NFT purchases across 10+ blockchains from 2016 to the present.
Upon engagement, our team initiated the setup of an accurate accounting system for Jonathan, meticulously updating his financial records from 2016 to the present day. We diligently reconciled his activities with the erroneous 1099s and reported his transactions accurately to the IRS.
Furthermore, through ongoing maintenance of Jonathan's accounting system, we identified loss harvesting opportunities, resulting in substantial tax savings.
Cryptocurrency Investor
Tax Planning FAQs
Where are you located?
We are a 100% virtual organization that is headquartered in Charlotte, NC.
What types of investors and businesses do you work with?
We work with cryptocurrency investors and digital business owners of virtually all types. We’ve worked with clients with a handful of crypto transactions to clients with tens of thousands of highly complex transactions and established businesses.
We have experience serving the sophisticated and expanding needs of a wide range of institutional, corporate, high-net worth and individual clients including:
- Cryptocurrency, DeFi & NFT Investors
- eCommerce Businesses
- Crypto Mining Operations
- Corporations with Crypto Transactions
- NFT Artists & Dealers
- VC Firms
- Consultants and Advisors
- Executives compensated with crypto and/or RTUs
When does tax advisory make sense for me?
Tax planning generally has to be done well in advance of earning income or generating capital gains. It is important to do tax planning well in advance of your actual tax needs. Unfortunately, many companies and investors that come to us have been overpaying in taxes for years.
If you've never received quality cryptocurrency and digital business tax planning, it can make sense regardless of where you are in your business or investment progress.
We’ve worked with everyone from brand new investors and small businesses to large companies and investors.
Can Camuso CPA prepare and file my taxes?
We can prepare virtually any type of federal or state tax return, most commonly:
- Individual returns: Form 1040
- Partnership returns: Form 1065
- C-Corp & S-Corp returns: Form 1120 and Form 1120-S
- Trust Returns: Form 1041
- Foreign Reporting: Form 114 & Form 8938
- State returns across all 50 states
Does tax preparation include tax planning?
No, most tax planning requires planning well in advance of filing taxes. Tax planning is the foundation to minimizing taxes. After we comple your tax planning process, we can also prepare your taxes each year. You can learn more about your tax preparation process here.
Do you review my prior year tax returns for errors and opportunities?
Yes, your tax advisor will review this as part of the tax planning process in order to identify any material errors or opportunities. If there are issues or opportunities our tax advisor will explain your options to fix the issues or to prevent them for reoccurring in the future.
I’ve never paid this much for tax services, why should I start now?
Cryptocurrency and digital business tax is often more complex than other businesses, and many CPAs will rush through the preparation and filing process which often leads to errors that can cost you money.
Most CPAs aren’t even aware of the tax laws related to cryptocurrency and digital businesses and will overlook opportunities available to you which can cause you to overpay in taxes. Not only will they miss opportunities, but sometimes they will make mistakes that will cost you even more to correct in the future.
At Camuso CPA, we pride ourselves on the ability to prepare your return accurately while at the same time ensuring that you're not missing out on opportunities for substantial tax savings.
Why does my current CPA not offer tax planning?
Most CPAs do not offer tax planning because they focus on tax filing and accounting only. Many CPA firms are only taking a historical viewpoint on your business and portfolio and not planning for the future. Our well tested tax planning process is designed to critically assess your current situation and future goals to identify opportunities in the tax code to legally minimize your future tax liabilities.
Does your team take continuing professional education (CPE) to keep up to date on industry changes?
Yes, excluding our administration staff, all members of the firm take at least 40 hours of continuing education (CPE) per year.
How does your team keep up with industry changes and changes in the tax code?
In addition to CPE, we have professional research software and subscriptions that provide updates on changes to the tax code and the latest developments in the cryptocurrency and digital business industry.
How do you secure my data if we are working virtually?
When sharing data we use Sharefile which is supported by Citrix.
Citrix meets SOC 2 compliance, a framework designed by the AICPA to safeguard the storage and transfer of customer data in the cloud. SOC 2 reports are issued by independent third-party auditors covering the principles of Security, Availability, Confidentiality, and Privacy.
Do you offer Crypto Accounting, Corporate Accounting or bookkeeping services?
Yes, we offer cryptocurrency accounting services, e-Commerce and traditional accounting services. To learn more about this please visit the cryptocurrency accounting and outsourced accounting webpages.
How do I get started working with Camuso CPA?
To get started please visit our Work with Us webpage. If you fit the description of clients we work with, please fill out a webform to contact our team and provide as many details about your tax and financial situation as possible. Our team will reach out after your form submission within 1-3 business days.
What client's have to say
"Excellent professionalism and courtesy from this highly knowledgeable and dedicated firm. My go-to for crypto related accounting and preparation services. Highly recommended for any crypto asset holder."
Excellent professionalism and courtesy.
"Patrick is a fantastic accountant and is fluent with crypto / crypto-regulations."
Trusted CryptoCPA
"I work with Camuso CPA for both my business and personal taxes. They have been great in terms of tax planning and saving on taxes for my eCommerce business.Camuso CPA has also been great in terms of cryptocurrency accounting and advice related to this. My crypto situation was a nightmare and they were able to accurately handle everything. Patrick is the most knowledgeable person I have ever spoken with for crypto taxes."
HE DID A GREAT HONEST JOB
"The service was excellent. I had no idea on how to present the information.Considering that the data was put together by people with experience gave a lot of value to the service.Even if I used some of the tools online that was recommended, my situation was quite complex & would have been very time consuming to make sure that it was accurate.If I used someone without experience, this would be a very expensive & time consuming process and it may not even be accurate. In the end I thought that the service was worth it."
THE SERVICE WAS EXCELLENT
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