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The Bitcoin Treasuries Podcast with Tim Kotzman
DeFi Tax CEO Janna Scott: What You Need To Know on Bitcoin & Crypto Taxes
Apr 4, 2025
Janna Scott, Founder of DeFi Tax, talks about the critical landscape of crypto taxes. She reveals common pitfalls individuals face when filing and mistakes made by CPAs that could lead to costly errors. The conversation dives into the complexity of accurately reporting transactions and highlights the risks of non-compliance. Janna also shares insights on the innovative features of DeFi Tax aimed at ensuring audit-ready reporting and enhancing taxpayer security in the rapidly evolving crypto environment. Tune in for essential tips on navigating these challenges!
50:06
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Quick takeaways
- Janna Scott emphasizes the critical need for accurate crypto tax reporting, warning that many taxpayers may fail IRS audits due to flaws in current tools.
- The development of DeFi Tax reflects a response to systemic inaccuracies in crypto tax products, aiming to provide reliable and audit-ready reporting for individuals.
Deep dives
Jana Scott's Journey into Crypto Taxation
Jana Scott's journey into the realm of cryptocurrency and tax began after moving to the U.S. from Germany, where she developed a strong affinity for numbers due to her initial language barrier. Her fascination with crypto sparked in 2017 as she started experimenting with Bitcoin and other cryptocurrencies while working in public accounting and government finance. Noticing a substantial gap in the market for accurate crypto tax reporting, she decided to delve into the research surrounding various cryptocurrency tax products available globally. As a result of her investigation, she discovered significant discrepancies in how different platforms reported tax data on the same set of transactions, highlighting a serious issue impacting taxpayers.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode