How to Become a Crypto Tax Accountant

March 22, 2022
Knowledge Center » Blog » How to Become a Crypto Tax Accountant

If you're a tax professional seeking to expand your client base and tackle the exciting world of cryptocurrency, then you've found yourself in the right place. Ledgible offers up a variety of tax and accounting solutions custom-tailored for professional and business use. We also have learning resources of tax professionals seeking to understand the space further. If you want to become a crypto tax accountant, then Ledgible has the learning resources for you.

Crypto can be a confusing space for those of us in the traditional finance and accounting world. In many senses, the way that cryptocurrencies and decentralized financial products work completely turn on their head the ways that we usually account for things. In the world of crypto, naming conventions aren't standardized, data is 24/7, there's no centralized pricing data to determine capital gains and losses with ease, to name just a few of the big issues facing accountants seeking to integrate crypto into their workstreams.

While many CPAs spend tens to hundreds of non-billable hours trying to figure out crypto for their clients, just to process a few more returns, this clearly isn't the most optimal path to success. What you need is enough knowledge to expand your advisory and reporting practice into the crypto realm, but not too much that you run out of time to serve the other traditional accounting scopes.

This is where Ledgible fits into the crypto tax accountant workflow. The Ledgible Product Suite offers software tools that integrate with all tax and accounting software solutions, both on the professional and consumer side. This is done either through API connections or direct file upload. For accountants looking to master crypto tax, signing up for Ledgible allows them to handle their crypto clients in one place. You can manage clients, transactions, provide current year planning, and run reports all within our intuitive UI.

The best part is Ledgible makes crypto, legible, to the traditional accountant. You don't have to spend time IDing transactions and figuring out what things mean, the Ledgible platform ingests crypto data and spits it out in understandable teams, like gain/loss data, long term and short term capital gains, gift income, and more.

So, the path to becoming a crypto tax accountant is simple - sign up for Ledgible and instantly be able to handle crypto transactions and crypto clients in your practice. Simple as that!

If you're interested in learning more about Ledgible, you can do so here.

About Trevor English

Trevor is a technology journalist & engineer who has made a career out of engineering and technical communication. His work has appeared on Curiosity, BBC, Interesting Engineering and other sites across the web. Originally the Chief editor for Interesting Engineering back in 2016, he now works with software & tech companies, aiding them in content marketing and technical communication. Currently living in Texas, he’s also a published children’s book author and producer for the YouTube channel Concerning Reality.

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