The first crypto-specialty education provider, assisting tax and accounting industry professionals to navigate the complexities of crypto taxation.
July 3, 2017 - Miami Beach, FL - Crypto Tax Academy has announced that it has launched as the nation’s first crypto-specialty education provider to enable tax and accounting industry professionals to navigate the complexities of crypto accounting and taxation. The Academy is operated by professionals from the industry leading CryptoTaxPrep.com by Happy Tax.
The courses offered by Crypto Tax Academy help practitioners to add more clients and increase their revenue in the large and growing market of cryptocurrency traders and miners. There are an estimated fifteen million owners of cryptocurrency in the U.S. including over thirteen million users at the digital currency exchange Coinbase alone. The Academy features free courses as well as learning tracts that include 25 modules with over 45 hours of content and live Q&A. The Advanced Crypto Tax Expert (ACT-E) Designation has also been created to offer the ability to showcase the expertise of those who complete the Advanced course modules.
The team of instructors includes CPAs, Enrolled Agents, business growth experts and even a Harvard MBA. “Cryptocurrency is here to stay. The use of blockchains is a ground-breaking technology that has enabled millions to speculate in trading activity with upwards of ten billion dollars of bitcoin and other digital assets trading each and every day currently.” said Crypto Tax Academy Tax Director L. Knox Wimberly. “Our team has prepared more cryptocurrency returns than anyone else, and we are pleased to be able to share our knowledge, experience, and expertise with the wider community of practitioners. Our instructors are thorough and provide information usable to preparers and accountants of every experience level.”
The curriculum not only includes deep learning on the nuts and bolts of the tax laws and guidance pertaining to cryptocurrency, but it also teaches how to implement marketing to gain these new clients who generally have a fee of four times the amount of a non-crypto return. “It is a complete supply and demand situation. With so few competitors who understand cryptocurrency taxation and so many clients in need of the service, those that complete our courses, learn the materials and implement strategies taught are guaranteed to grow; and grow dramatically.” said CEO Mario Costanz. “We looked at the competitive landscape of other education providers offering cryptocurrency courses and saw that there was none other than a handful of basic or high-level courses that didn’t teach how to actually do the work. We were being approached by many in the industry to help them during this past season. We had too much volume from our own clients in order to do so at that time so we committed to creating the Academy once tax season was over and I’m extremely proud of our team and what we have put together.”
Crypto Tax Academy students also get access to a number of bonuses not ordinarily available from typical tax education providers. Access to a monthly business growth coaching call, a year-round email support hotline, and actual marketing materials are included with paid courses.
“There are a large number of non-filers who have traded cryptocurrency, however, have not yet included their trades in their tax returns,” said instructor Ted Muftic. “Some crypto enthusiasts have the misconception that this income is not required to be included in tax returns, and those taxpayers who haven’t complied with the law are in for a rude awakening that will include penalties, interest and possibly fines.”
In 2016, the IRS sued Coinbase, the US’s largest exchange to receive KYC (Know Your Customer) data on an initial subset of its users and their trades. In the suit, the IRS asked a federal judge to order Coinbase to turn over its users’ account information to the taxing agency. The IRS asserted even though millions had traded cryptocurrency in 2015, only 802 taxpayers included their crypto trades on their tax returns. The judge signed the order in November of 2017, and the data was turned over in March of 2018 to the IRS who has it’s LB&I division working through it.
The Academy believes that the Coinbase letters will be going out sometime during 2018 to over 13,000 traders from the 2015 tax year when cryptocurrency hadn’t even hit mainstream. There is a large contingent of traders who still haven’t included their cryptocurrency income for 2017 when crypto mania swept the nation. This is a client opportunity for those practitioners who know how to handle the business. Once the penalty letters are sent, those traders receiving them will flood to sites like Reddit, bitcointalk.org and the various Facebook and telegram groups where other traders not yet ensnared in the data turn-over to share their experiences with getting hit with large amounts of penalties and interest. That, in turn, will send those out of compliance looking for competent cryptocurrency tax experts. “There will be millions of clients looking for help. We might not be able to handle it all ourselves, so we are excited to help our peers to be ready for this coming onslaught of business.” said CEO Mario Costanz.
Cryptocurrency is not anonymous, even when using masking cryptos like Dash or Monero. “I believe the IRS and DOJ will continue aggressively targeting taxpayers who are not reporting their crypto trades on their tax returns,” said Mark Milton, owner of MCM Law LLC, who serves as Crypto Tax Academy’s outside counsel and is a former Trial Attorney with the US Department of Justice Tax Division. “As such, it is imperative that taxpayers ensure they are timely and accurately reporting their crypto trades.”
Discounts are available for large firms or associations. Affiliate programs are also available for any companies that would like to offer this to their employees or customers.
CEO Email: [email protected]
Crypto Tax and Accounting Education: https://CryptoTaxAcademy.com
Cryptocurrency and Bitcoin Tax Preparation: https://CryptoTaxPrep.com
Happy Tax Information: https://GetHappyTax.com
ABOUT CRYPTO TAX ACADEMY
We offer a full range of courses tailored to tax, accounting, and finance professionals, with a focus on practical training pertaining to cryptocurrency taxation and accounting as well as marketing and business operations training to locate and service clients into any newly formed crypto tax practice.
We specialize in helping practitioners to increase their revenue by incorporating cryptocurrency taxation expertise into their existing practices as well as helping those starting out in the business to build a tax practice focused on cryptocurrency taxation from the ground up. We are passionate about assisting forward-thinking CPAs, Enrolled Agents, accountants and tax preparers to understand blockchain technology and cryptocurrency so that they can intelligently speak with clients and properly prepare financial statements and tax returns.
Crypto Tax Academy features free courses as well as learning tracts that include 25 modules with over 45 hours of content and live Q&A. The Advanced Crypto Tax Expert (ACT-E) Designation is also available to those that complete our Advanced courses.
We harness the power of education to help our innovative students reach their goals.
ABOUT CRYPTO TAXES MADE HAPPY: THE DEFINITIVE HOW-TO GUIDE FOR PREPARING CRYPTOCURRENCY TAX RETURNS IN THE UNITED STATES
Mario Costanz’s best selling book, Crypto Taxes Made Happy is available on Amazon.com in paperback and kindle on Amazon.com and iTunes. The 180 page, best-selling book is available for free at https://www.cryptotaxacademy.com/p/free-book.
Crypto Tax Academy Affiliates and Discount Programs: Mario Costanz, CEO
Students & Curriculum: L. Knox Wimberly, Tax Director
Tax professionals across the nation are already experiencing the benefits of Crypto Tax Academy courses. Don't get left behind.