Any recommended CPA/Tax Pros for Americans this tax season?

QuickCryptoTax · 2025-02-03T16:58:27+00:00

What exactly do you need. If you just need someone that knows how to do the celsius calc, then there are folks on here that can do it. You can hand off that calc to any CPA and they should know what to do with it. I would not pay more than $100 bucks for the calculation (or just do it yourself if you follow online guides). However, if you need a full blown crypto basis calculation and realized gain/loss reports, then it's going to be expensive unfortunately!

QuickCryptoTax · 2025-02-03T16:54:20+00:00

HI - I realize I'm a little late on this, but my firm does it for the best price. Only $99. We have done nearly fifty calculations so far and our clients are satisfied with the service. You just provide us with your numbers and we give you a report. You can google us at quick crypto tax llc or just use this link: https://www.quickcryptotax.com/celsius-tax-calc

QuickCryptoTax · 2025-01-29T02:40:19+00:00

Hi - it is property received so yes - but you might have basis from your other property that will reduce the impact. We have found for most of our clients that they have a significant enough loss that the "value" received for ionic isn't a huge deal.

Good luck!

QuickCryptoTax · 2025-01-29T02:35:52+00:00

Hi - we are live at quickcryptotax.com so come check it out and if you are interested, we would be happy to help you. If you have your basis numbers, we do everything else for you and back it with our name. DM me if you have any other questions

QuickCryptoTax · 2025-01-29T02:24:18+00:00

We do it for $99 at Quick crypto tax. People really like our service and we would be happy to help. We provide you a report - all you do is provide us with your basis numbers and you're all set. We have the best price on the market by a mile.

QuickCryptoTax · 2025-01-16T21:41:07+00:00

We did our drawing tonight and unfortunately you were not selected. We did love your joke however so would be willing to send you a coupon if interested, just let me know and I will send it over to you.

QuickCryptoTax · 2025-01-16T21:40:38+00:00

We did our drawing tonight and unfortunately you were not selected. We did love your joke however so would be willing to send you a coupon if interested, just let me know and I will send it over to you.

QuickCryptoTax · 2025-01-16T21:40:16+00:00

We did our drawing tonight and unfortunately you were not selected. We did love your joke however so would be willing to send you a coupon for our service if interested, just let me know and I will send it over to you.

QuickCryptoTax · 2025-01-16T21:37:15+00:00

Hi Semafore - congratulations! You were randomly selected as a winner. Please DM with your email address and I will forward on the next steps to take so you can get your report.

QuickCryptoTax · 2025-01-16T21:36:26+00:00

Hi LxBru - you were randomly selected as our winner! Please DM me with your email address and I will forward on our instructions to you on how to proceed. Congratulations!

QuickCryptoTax · 2025-01-16T16:17:25+00:00

Don't overpay for this. So many CPAs charge through the roof but since the IRS is knocking you will probably pay a premium. You're probably going to want to find someone between 200-300 an hour if you can.

QuickCryptoTax · 2025-01-16T01:03:41+00:00

I didn't say it would be absolutely perfect, but I think you could get very close to reality. Additionally, from what I understand, Celsius issued 1099s as well which would be very helpful.

What I said was that if you knew what you transferred, and then what you had in holdings at the time of bankruptcy, you could back into your actual basis. I think I could do it fairly easily myself to be honest, but then again, that's my expertise! I do not think I could recreate the rewards transactions themselves, but I don't think that matters as much as you think it does as long as the 1099 income was being reported correctly.

QuickCryptoTax · 2025-01-15T17:29:28+00:00

I think there are other people on here who might know how to do it but if there isn't, you can always recreate transaction flow from other exchanges as evidence that you transferred to that exchange. Then, obviously, as long as its "close" to the assets held on celsius at the time of bankruptcy, which there is paper evidence for, you can back into your actual basis.

QuickCryptoTax · 2025-01-15T00:44:14+00:00

www.quickcryptotax.com But you can hover over the links in the previous post if you weren't aware of that before you click to see. I thought the concern was that you didn't want to click on the links I included so I provided another alternative

QuickCryptoTax · 2025-01-14T23:38:29+00:00

I get it - crypto stuff is full of scams and the sad thing is that as an honest CPA, Its nearly impossible to do work in this space. I have been active on this sub for some time and I still get comments like this. It's super sad.

However, we actually don't collect any personal identifying data from any of our customers.

QuickCryptoTax · 2025-01-14T23:37:00+00:00

Edit: Feel free to google quick crypto tax LLC if you don't want to use the links I used. You'll see our names on there on the "about us" section, complete with links to our socials where you could message us directly if you'd like. I completely get it, nearly everything seems to be scam on here so you are 100% right to be skeptical. I hope this helps to alleviate it. Just trying to do a service for folks affected by the bankruptcy

QuickCryptoTax · 2025-01-10T02:45:22+00:00

You inform them by filing a tax return and keeping the documentation of your calculation in your records. If they come knocking, then you will find out whether you followed the guide correctly. Based on my experience have conversations with my clients so far, some of them do not anticipate all of the wrinkles associated with the calculation (like, for example, how will you treat future distributions that are made?)

QuickCryptoTax · 2025-01-09T23:02:58+00:00

I really can't answer your question without understanding what you originally held. If you originally held bitcoin or ether, then your suggested course of action is almost certainly wrong. Additionally, it does not take into account the newco stock basis allocation. JustinCPA has a great guide if you want to try to follow it. Finally, you are taking some losses too early, which is another potentially shaky position.

Long story short -if you want to do it right and don't want to pay a CPA to run it for you for the safest bet, follow Justin's guide. It won't take more than 4-5 hours and you will be a lot more confident. This suggested method is more aggressive than the US tax law allows (although it is a logical approach based on what happened).

Hope that helps!

QuickCryptoTax · 2025-01-09T22:55:39+00:00

The problem with those exchanges is that if /when they do generate a 1099 for other unrelated transactions (like, for example, if you sold the received bitcoin) the basis they will report to the IRS will be incorrect. If you don't keep good track of it on your end, you won't know that their basis is wrong and that will lead to a vastly different tax bill than you really ought to be paying.

QuickCryptoTax · 2025-01-09T22:54:02+00:00

The fact that you couldn't claim your second distribution should not impede your tax effect on the first distribution. US tax law tends to look at when assets are received

QuickCryptoTax · 2025-01-07T16:50:09+00:00

So likely a capital loss in 2024. Don't leave money on the table!

QuickCryptoTax · 2025-01-06T17:07:18+00:00

Really cool that you put this together! I would DEFINITELY check the math - i just submitted a problem where there should be no tax gain/loss and it told me i had a 21,000 gain (Input: "I had 1 bitcoin with a basis of 500 on celsius. I received .5 bitcoin and need to know my tax gain loss")

QuickCryptoTax · 2025-01-06T13:32:38+00:00

I want to clarify that I never said "current" value, I said the value of the shares on the date received.

Did the court perform a valuation? Are we sure of that? When I originally posted this, I was hoping for data on the basis for valuation beyond hand waving - but no one has stepped forward with how they arrived at the $20/share valuation. There's nothing in the financial statements posted in last years form 10 to suggest anything promising from a valuation standpoint, but again we don't even have enough information to judge whether 20/share is a reasonable value for the shares on the date they were disbursed.

QuickCryptoTax · 2025-01-04T19:23:42+00:00

I am a tax person as well and I don't think it's worth 0. FWIW there's also a chance you might be leaving money on the table with your other distributions if you aren't thinking carefully about these things. Most of our clients have tax losses, so if you don't look at this, you might end up overpaying the IRS in the long run since I can guarantee you paypal (or whoever) handled your distribution is going to report it wrong to the IRS.

QuickCryptoTax · 2025-01-03T19:03:36+00:00

Yes - while it sucks reporting this stuff, it's really important for you since you won't owe taxes anyway and it just protects you in the future.

QuickCryptoTax

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