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Filing crypto taxes can be complex, especially for those exploring the decentralized finance world. Here’s what to keep in mind. Filing Taxes for crypto currency can be a confusing and daunting task for many individuals. The United States Internal Revenue Service (IRS) treats crypto currency as property subject to capital gains taxes. Knowing this appears to make filing crypto Taxes simple, but crypto ’s unique nature means there are many unanswered questions. Accurately reporting gains and losses can be a nightmare. While everyone concerned about tax season knows that keeping accurate records of every crypto transaction is a must, there are other things to keep in mind. There is a difference between short-term and long-term capital gains taxes, with tax rates varying depending on multiple factors. These capital gains tax rates are available online and are beyond the scope of this article, which will focus on avoiding potential issues with the IRS while filing taxes on crypto. How to...

Crypto lawyers suggest including highly detailed instructions in one’s will and appointing a crypto-savvy next-of-kin, among other suggestions. The average crypto investor probably isn’t planning on dying of old age anytime soon, but that doesn’t mean they shouldn’t have a plan in place to pass on their crypto in the event they meet an unlikely demise, lawyers warn. Speaking to Cointelegraph, Dubai-based crypto lawyer Irina Heaver believes that “billions” worth of Bitcoin (BTC) has been lost due to a lack of proper death-related planning by hodlers. She noted that many families have been unable to access their loved one’s crypto assets due to private keys being taken to the grave, and emphasized the importance of discussing crypto assets with family and including them in their will. Heaver said that the typical crypto investor is a “male millennial” between the ages of 27 to 42, which is the age range where arranging one’s financial affairs in case of death is the “last thing” to com...