#54: Crypto Taxation in the US with Aryeh Munk & David Zareh from OnChain Accounting

Dec 22, 2023

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Are you as a company contemplating using crypto assets in your business? Be it for investment purposes or rather in your daily operations?

The 1st advice irrespective of the jurisdiction you’re in, is to speak with a qualified tax advisor.

Once you understand the crypto inflows and outflows, you can also determine the character of income of your crypto.

Which fall under 2 buckets - ordinary income subject to income tax and capital income subject to capital gains tax.

Since tax is jurisdiction-specific, I’m starting a new series on Crypto Taxation and for the 1st episode, we’ll look into the US 🇺🇸

And on Episode 54, I spoke with David Zareh & Aryeh Munk, the Managing Partners at OnChain Accounting, an accounting and tax services firm focused on crypto.

Topics Covered:

Episode intro (00:39)
David & Aryeh’s story of how they got into blockchain (2:44)
Capital gains tax for crypto (7:18)
How holding period affects CGT (12:19)
Taxes on bridging crypto (14:29)
Providing liquidity and receiving LP tokens (16:57)
Income tax for crypto (20:48)
Thank you to our sponsor Cryptoworth (23:05)
Staking rewards & having dominion (24:43)
Tax optimization - cost basis (28:57)
Using a crypto sub-ledger to optimize tax expenses (31:40)
Tax loss harvesting & wash sales (32:25)
Thank you to our sponsor Web3CFO Club (36:45)
Challenges for crypto tax compliance (36:22)
How to choose a crypto sub-ledger (41:08)
How does OnChain Accounting help with crypto accounting & taxes (43:37)
Crypto Accounting Guide, by OnChain Accounting (47:27)
Closing thoughts (50:31)

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