Miami Beach, FL – Crypto Tax Academy is pleased to announced that it has launched as the nation’s first crypto-specialty education provider. The expansive suite of courses will enable tax and accounting industry professionals to navigate the complexities of cryptocurrency 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 will help practitioners add more clients and increase their revenue in this large-and rapidly expanding-cryptocurrency trading and mining market. An estimated fifteen million people in the US own cryptocurrency over thirteen million users at Coinbase alone, a leading digital currency exchange.
The Academy features free courses as well as learning tracts that include 25 in-depth educational modules with over 45 hours of content and live Q & A. Students who complete the Advanced course modules will earn the Advanced Crypto Tax Expert (ACT-E) Designation, a distinction created by the Academy to showcase the expertise of those dedicated towards an advanced understanding of cryptocurrency taxation.
Crypto Tax Academy’s accomplished 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 ground-breaking technology that has enabled millions to speculate in trading activity. Upwards of ten billion dollars of Bitcoin and other digital assets are currently trading, each and every day,” says Crypto Tax Academy instructor and Tax Director L. Knox Wimberly. “Our team has prepared more cryptocurrency tax returns than anyone else, and we are pleased to share our knowledge, experience, and expertise with the wider community of practitioners. Our instructors are thorough and provide practical information to preparers and accountants at every experience level.”
The curriculum includes not only deep dives into the nuts and bolts of the tax laws and guidance pertaining to cryptocurrency, it also provides guidance on how to implement proven marketing tactics to tap into this consumer base-a highly valuable add-on, considering that the specialization of a crypto return generally nets a fee four times higher than that of a non-crypto return.
“It is a complete supply and demand situation. With so few competitors that understand cryptocurrency taxation and so many clients in need of the service, those that complete our courses, learn the materials, and implement the strategies we teach are guaranteed to grow-and grow dramatically,” says CEO Mario Costanz. “We researched the competitive landscape of other education providers that offer cryptocurrency courses and saw just a handful of basic or high-level courses that didn’t teach how to actually do the work. During this past season, we were approached by many in the industry asking for help with crypto education, but we were experiencing record volume from our own clients at that time. However, 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 receive 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 targeted marketing materials are included with paid courses.
“Many non-filers have traded cryptocurrency, but they have not yet included their trades in their tax returns,” notes instructor and CFO 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; one that will include penalties, interest, and possibly fines.”
In 2016, the IRS sued Coinbase, the US’s largest exchange, for access to 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 user account information. The IRS asserted that even though millions had traded cryptocurrency in 2015, only 802 taxpayers included their crypto trades in their tax returns. The judge signed the order in November 2017, and the data was turned over in March 2018. The IRS currently has its LB&I division combing through the list of names.
The Academy believes that the Coinbase tax penalty letters will be going out sometime during 2018 to over 13,000 users who traded between 2013 and 2015 tax years. Crypto-mania swept the nation in 2017, but numerous traders still haven’t included their cryptocurrency income in their 2017 returns. This presents a huge opportunity for those practitioners who know how to report crypto income.
Once the penalty letters are sent, traders receiving them will flood to sites like Reddit, Bitcointalk.org, and various Facebook and Telegram groups to share their negative experiences about getting hit with sizable penalties and interest charges. Other out-of-compliance traders, who were not ensnared in the initial KYC data turn-over, will naturally start 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 committed to helping our peers prepare for this lucrative onslaught of business.” said Costanz.
Cryptocurrency is not anonymous, even with masking tokens 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,” cautions Mark Milton, owner of MCM Law LLC and former Trial Attorney with the US Department of Justice’s Tax Division, who serves as Crypto Tax Academy’s outside counsel. “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 program 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
Our full range of courses tailored to tax, accounting, and finance professionals focus on practical instruction pertaining to cryptocurrency taxation and accounting, as well as marketing and business operations training to help students locate and serve crypto clients.
We not only specialize in helping practitioners increase their revenue by incorporating cryptocurrency taxation expertise into their existing practices; we also provide guidance on how to build a cryptocurrency tax-focused business from the ground up to those just starting out in the industry. We are passionate about assisting forward-thinking CPAs, Enrolled Agents, accountants, and tax preparers understand blockchain technology and cryptocurrency so that they can speak intelligently with clients and properly prepare financial statements and tax returns.
The Academy features over 25 in-depth educational modules with over 45 hours of content and live Q & A, along with a few free courses, as well. Students who complete the Advanced course modules will earn the Advanced Crypto Tax Expert (ACT-E) Designation, a distinction created by the Academy to showcase the expertise of those dedicated towards an advanced understanding of cryptocurrency taxation.
We harness the power of education to help our innovative students reach their goals.
CRYPTO TAXES MADE HAPPY
Mario Costanz’s book, Crypto Taxes Made Happy: The Definitive How-To Guide for Preparing Cryptocurrency Tax Returns in the United States is available for purchase on iTunes and Amazon.com (paperback and Kindle). The 180-page best-seller is also available for free at https://www.cryptotaxacademy.com/p/free-book.
Crypto Tax Academy