Given the lengthy, rigorous process of filing taxes in the US, it only makes sense to consult the services of online tax filing and advisory portals like Visor Virtual Currency Tax Advisor.
These revolutionary platforms greatly ease the hassle of navigating through the rigors of solemnly and truthfully responding to the taxman's demands. And their popularity is even set to go a notch higher soon, given the newest directive that touches on the vibrant cryptocurrency investors in the US.
Filing Taxes – Crypto Investors
Crypto taxation might have been the ‘party spoiler’ in 2017, affecting every single bitcoin or other Altcoin transaction and the effect has been profoundly felt. The taxman’s crackdown on mining, trading, spending, exchanging, etc., hasn’t been particularly good for the industry. But as the IRS is that “big bro” whose wielding arm is mighty, all that remains for crypto investors is to file their returns.
Why File Taxes if you do Invest in Crypto-Assets and Digital Currencies?
- The IRS views cryptocurrencies as property just like what stocks, bonds or other investment properties are.
- Trading cryptocurrencies is considered the same as trading fiat.
- Using cryptocurrencies to buy goods and services is the same as any other trading activity and thus worthy of taxation.
- Mining and using cryptos for business could make you a client to the IRS.
How it Will Be a Huge Helping Hand For Cryptocurrency Investors
Visor.com is one of the most prominent online tax filing and consultancy platforms, and its client base is quite vast. Serving and blue chip companies alike, Visor Virtual Currency Tax Advisor is quite a smart choice for many given that it has experienced tax advisors, flat annual fee and a reputation yet to be questioned.
Incredibly, this useful resource’s quite astounding status is set to hit another milestone with the introduction of a service that will help them file taxes with little hassle.
What Does Visor Virtual Currency Tax Advisor Do?
Visor Virtual Currency Tax Advisor recently came up with a tab strictly dedicated to helping cryptocurrency investors comply with the IRS, and everything about it is quite straightforward. You will “Work with tax accountants that are cryptocurrency investors like yourself,” it starts. The catch, however, is the great catchphrase of “No fees until you're ready to file.”
The promises are listed down as six simple points. Visor claims to help them by:
- Using skilled and smart expert accountants to handle all that relate to crypt taxation.
- Professionally completing State and Federal tax filing.
- Calculating cost basis.
- Helping record and report forks and rewards for all investors.
- Handling all types of cryptocurrencies and their respective types of transactions.
- Initiating year-round planning and IRS audit protection.
You register by indicating the nature of your business through a few questions. You then upload your documents. After that, Visor gets down to business, filing the tax documents on your behalf.
About the cost, at the moment, this platform charges a one-off flat fee of $399 per annum.