Crypto Tax Attorney
Miami's Leading Crypto
Tax Attorney Services
Cryptocurrency is gaining popularity, and there’s no evidence that this growth is going to slow down, making the guidance of a Crypto tax attorney more essential than ever. Crypto taxes have become increasingly complex due to evolving tax laws and technological innovation in the past few years. Bitcoin, the most popular cryptocurrency, is estimated to account for over $2.3 trillion of the world’s financial transactions, and Bitcoin is one of hundreds of thousands of types of cryptocurrencies.
Where there’s value like this, taxes are going to be involved. Our Miami crypto tax lawyer has experience in this new and unique field. Understanding blockchain technology is crucial for navigating the legal, tax, and regulatory issues that arise in the cryptocurrency space.
Good Attorneys At Law has over 27 years of experience with the types of legal issues that are now part of the cryptocurrency landscape. Reach out to our Miami office today by calling (877) 771-1131 or by filling out our online contact form to set up a consultation. We serve clients nationwide.
Navigating Miami's Cryptocurrency Tax Regulations
Cryptocurrency, or as it’s known in the tax law as “digital assets”, presents a number of interesting questions from the perspective of United States and international tax law.
Early guidance deemed crypto to be “property”, and, as such, its sale or exchange can trigger capital gains. Cryptocurrency is considered an asset for tax and regulatory purposes, and virtual currency is subject to specific reporting requirements under IRS and other regulatory guidelines.
Timely and accurate reporting is always encouraged. Tax officials are going through their own learning curve on all that is involved with crypto, but they are becoming increasingly active in investigating individuals and firms that invest in, trade, or make use of crypto.
The IRS has modified Form 1040 to include specific questions about the ownership of or transactions in digital assets. The failure to be in compliance can result in steep penalties. Recent IRS notices highlight the importance of understanding official guidance for virtual currency transactions and ensuring compliance with evolving regulations.
The IRS has since issued guidance on digital assets in specific niches, such as the tax consequences of airdrops, mining activities, hard forks, and charitable giving. The tax treatment of receiving crypto depends on the context; it may be taxed as ordinary income if received as compensation or as capital gains if sold after holding.
The IRS also recently issued the final regulations requiring custodial brokers to report sales and exchanges of digital assets. Tracking cost basis is crucial, and cryptocurrency exchanges play a key role in reporting sales and exchanges for tax purposes.
These regulations apply to transactions beginning in calendar year 2025 are on the forthcoming Form 1099-DA. Additionally, a qualified crypto tax lawyer is aware of these developments and how they can affect your business and finances, and can help you plan accordingly.
We have years of tax controversy experience and can assist you with a crypto audit. A thorough cryptocurrency audit is essential to accurately assess tax liabilities, prevent costly mistakes, and ensure compliance with IRS rules. Therefore, if the IRS audits you, do not try to handle it alone. Getting a qualified Crypto tax attorney to help you with a crypto tax audit can make a significant difference in the outcome of your case. We have helped taxpayers get no-change letters and fractional settlements. An IRS audit may focus on issues such as unreported income, cost basis, and the classification of transactions as taxable or non-taxable events.
Contact us for experienced advice and guidance, whatever your crypto-oriented legal needs may be. We help taxpayers manage their tax bill, negotiate payment plans, and develop strategies to save money or recover overpaid taxes. Selling cryptocurrency, exchanging one cryptocurrency for another, or receiving crypto as payment can trigger income tax or capital gains tax, depending on the holding period and the nature of the transaction (short term capital gain vs. long term capital gains). Recent proposals under the Bank Secrecy Act may require reporting of virtual currency as a foreign financial account, increasing compliance obligations. It is important to accurately report all crypto activity on tax returns, distinguishing between taxable and non taxable events. The definition of currency is evolving, and the IRS treats virtual currency differently from traditional currency for tax purposes. Understanding your tax treatment and how different types of crypto transactions are taxed is essential. The taxpayer is ultimately responsible for ensuring compliance and avoiding penalties.
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IRS Form and Compliance: What Miami Crypto Investors Need to Know
For investors active in the cryptocurrency space, understanding IRS forms and compliance requirements is crucial to staying on the right side of tax law. The Internal Revenue Service (IRS) has made it clear that all cryptocurrency transactions -whether buying, selling, trading, or using crypto to purchase goods, must be reported accurately. Each transaction can have tax implications, including capital gains or losses, depending on the difference between the purchase price and the fair market value at the time of the transaction.
Crypto tax law is constantly evolving, and the IRS continues to update its regulations and reporting requirements for digital assets. Investors must be diligent in tracking every crypto transaction, as even small trades or exchanges between different virtual currencies can trigger a taxable event. Proper documentation is essential, including records of dates, amounts, fair market value, and the nature of each transaction.
Key IRS forms for crypto investors include not only the standard tax return forms but also specialized forms for reporting cryptocurrency income, capital gains, and other taxable events. Failing to comply with these requirements can result in audits, penalties, or even legal action. That’s why many Miami investors turn to experienced cryptocurrency tax lawyers for guidance. These professionals understand the nuances of crypto tax, can help ensure full compliance with IRS regulations, and provide specific advice tailored to your unique trading activity.
Staying compliant with crypto tax law isn’t just about avoiding penalties; it’s about protecting your investments and peace of mind. If you’re unsure about your reporting obligations or need help navigating the complexities of IRS forms and crypto transactions, consulting with a knowledgeable law firm can make all the difference.
The IRS treats cryptocurrency as property for federal tax purposes.
This classification has been consistently applied since Notice 2014-21 and is reiterated in IRS guidance and leading tax resources for 2025.
As a result:
- Cryptocurrency transactions (sales, exchanges, spending, or earning crypto) are subject to capital gains tax rules, similar to how stocks or real estate are taxed.
- Profits from selling or trading crypto are treated as capital gains, with tax rates depending on how long the asset was held (short-term vs. long-term).
- Earning crypto (such as through mining, staking, or as payment for services) is generally taxed as ordinary income based on the fair market value of the assets when received.
Current IRS guidance emphasizes that “digital assets are considered property, not currency,” and this applies to Bitcoin, altcoins, NFTs, stablecoins, and similar digital assets tax.
Crypto Tax Planning Strategies
Just as with traditional assets, smart crypto tax planning can save significant amounts of money. Our Miami crypto tax attorneys help clients with proactive strategies such as:
Harvesting Capital Losses: Selling losing positions to offset taxable gains elsewhere in the portfolio.
Choosing the Optimal Accounting Method: FIFO, LIFO, and Specific Identification all affect your taxable gains differently.
Entity Structuring: Setting up the right legal entity (e.g., LLC, S Corp, or C Corp) can protect assets and optimize tax results.
Deferring Gains through Opportunity Zones or Trusts: For high-net-worth individuals, strategic vehicles can help defer or reduce tax burdens.
Charitable Contributions: Donating crypto to qualified charities can result in a deduction for the fair market value, while avoiding capital gains tax.
Common Crypto Tax Mistakes to Avoid
Even seasoned investors can make mistakes when it comes to crypto taxation. The decentralized and often anonymous nature of crypto trading can create a false sense of security, leading to serious tax pitfalls. Some of the most common mistakes include:
- Failing to Report All Transactions: Every crypto transaction, even crypto-to-crypto trades, must be documented and reported. Overlooking a transaction can flag you for an audit.
- Incorrect Cost Basis Tracking: Not properly tracking the cost basis of each digital asset can lead to overstated gains and excessive tax liability.
- Mixing Personal and Business Use: Using crypto wallets interchangeably for business and personal expenses can complicate audits and deductions.
- Overlooking Airdrops and Staking Rewards: Many taxpayers forget that these often qualify as income and must be reported accordingly.
- Delaying Tax Filings or Estimated Payments: Crypto taxes aren’t optional, and late or missed payments can lead to interest and penalties.
At Good Attorneys At Law, we help clients correct prior filings, amend tax returns, and implement proper systems to stay compliant going forward.
Why Work with a Miami Crypto Tax Attorney?
The IRS is increasing enforcement in the digital asset space. Working with a crypto tax attorney in Miami ensures that you are not only compliant with current regulations but also protected against future legal and financial risks.
Here’s what sets us apart:
- Deep knowledge of both federal and Florida tax codes
- Practical experience handling IRS audits, appeals, and litigation
- Strategic tax planning tailored to crypto portfolios
- Support for miners, traders, NFT creators, DAOs, and high-net-worth investors
- Proven track record of positive outcomes for clients facing IRS scrutiny
Schedule a Confidential Consultation Today
Whether you’re being audited, planning for next tax season, or want to catch up on past filings, our legal team is ready to help. Contact us at (877) 771-1131 or use our secure form to schedule your confidential consultation.
Stay compliant. Save money. Gain peace of mind.
Call our office at (877) 771-1131 or contact us online to set up a consultation.