ELI5 —Part 1: Crypto Taxation

  • …want to understand how your crypto assets are measured
  • …didn’t study business administration or accounting and have never heard about Fifo or Lifo
  • …want to get a better understanding of inventory methods
  • …DID study business administration but fell asleep during accounting 101

The Fundamental Truth of Taxation

  1. How much money you own relative to the last time you filed taxes
  2. Your tax rate

Lesson one: Inventory

FIFO

LIFO

FIFO and LIFO in Action

--

--

--

Connecting Crypto: Track, Manage, and Report all Your Crypto Platforms in One Place.

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
ACCOINTING.com

ACCOINTING.com

Connecting Crypto: Track, Manage, and Report all Your Crypto Platforms in One Place.

More from Medium

4th Finance Blog (FLOG) : May 2022 Finance and Economic Climate

Crypto’s Greatest Financial Innovation — The Perpetual Swap

Only Common-Sense Regulation Will Save Crypto

More Than Buy Low & Sell High —Part 2