How has your crypto learning experience gone?
As I learn more about crypto I realize how much I don't know. Every day I seem to open doors to new knowledge but with that comes a whole slew of new questions.
As far as crypto accounting, I have to admit I haven't done a very good job. Which is strange because I'm usually a geek that will start an Excel spreadsheet for everything. Maybe I thought it would never amount to much, who knows.
Taxes will be interesting this year. My income has been way down the last few years after dramatic lifestyle changes. Just starting to receive some retirement benefits but that won't really come into play until next year. I guess my plan is to try and catch up the accounting of crypto for the last couple years, fill out the forms, and hope the IRS is to busy to look to close at a poor citizen like myself. :)
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Haha yeah I'm hoping HMRC (which is the UK version of IRS) will look at the slightly bigger fish than someone like me with not even 4 figure earnings!
I have to admit, the last month going back through everything has been a mind numbing but stressful experience! It's worth getting your accounting in order just to put your mind at rest but I'd speak to a financial/tax advisor first to get their opinion. If still unsure, contact IRS. If they are as helpful as HMRC are on the phone, nothing to worry about and they will point you in the right direction, even if you have to be on hold for 30 minutes and speak to 3 separate people! As long as you explain how you've earned it and looking for advice, it's all OK!
Questions lead to more questions, I know that one! I've learned to stop asking questions in some instances 😂
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