For those that are overwhelmed, confused and feel as those their heads are spinning when it comes to NFTS.... Thats how I feel when it comes to accounting and taxes.
With so much misinformation and in many cases the wild wild west feel of the web 3.0 arena of the metaverse, cryptocurrency, creator coins and NFTs it's no wonder the haters have so much to talk about.
For this episode I brought on Patrick Camuso, CPA who was the First CPA Firm To Accept Crypto to break down all things accounting and taxes and I really loved how open he was and his true knowledge of this space.
Asked a wide range of questions including:
Can we pay our accountant in ETH?
Whare the best tools to track our taxes or should we be tracking them ourselves?
What is a taxable event in the blockchain world?
What should we be factoring in when it comes to airdrops like $GAS, $SOS, and the newest $WTF?
What are some things we can do to make our CPAs ' lives easier during tax season?
How do DAO's factor into this taxable event and business case?
As we like to say on the show DYODR (Do Your Own Damn Research) I will also say Get Your Own Damn CPA but I think you will have an entirely new perspective on what to be thinking about when it comes to taxes and accounting for your crypto portfolio:
NFT Project highlight: https://opensea.io/collection/womenrise
Tools mentioned on the Podcast:
CoinTracker.IO: https://www.cointracker.io/i/9oYphExjbmuy
Zerion: https://zerion.io/
This was recorded on Twitter spaces so make sure to follow me on Twitter so you don't miss future live interviews at: https://www.twitter.com/isocialfanz
Follow our Guest: Patrick Camuso:
https://camusocpa.com/
https://twitter.com/PatrickCamuso