Zenledger discount now live
Ahead this year’s tax deadline, we’re happy to announce a helpful discount:
Casa members are now eligible for 10% off ZenLedger.
ZenLedger is a great option for active traders to streamline their filings. We like that they offer 24/7 support plus a no-fuss return policy if their service doesn’t fit the bill.
To get started
You can head to ZenLedger.io, find the plan that suits your needs, and use the code ‘CASA10’ at checkout.
(Note on privacy - as with all member discounts, this one is 100% opt-in and entails no systems integration or data sharing. We like ZenLedger because they have streamlined setup options plus options for privacy-conscious Bitcoiners. For details, check out this ‘getting started’ guide and see below. As always, we encourage all Casa clients to do their research and consider potential risks before using any outside service or professional.)
Reminder: (Bitcoin) taxes are due July 15
We advise all Bitcoiners to take taxes seriously.
For one thing, it's difficult to hide your BTC holdings from the IRS. Most compliant exchanges have filed 1099s that document your trades to the IRS. We also know the agency likely employs blockchain analysis tools such as Chainalysis.
The typical IRS statute of limitations is 3 years. However, if you understate your earnings that increases to 6. And if you fail to file, or are found to have filed dishonestly (which is by no means improbable to do by accident - given the complexity and ambiguity of the crypto tax domain), then you are at risk of audit indefinitely.
By reporting NOW, you start the clock on your statute of limitations and greatly reduce your risk of an audit down the line. It’s also important to skip the spreadsheets and use solid software for your accounting - in case you ever need to defend your positions to the IRS.
A note on inheritance - Also note that in the United States, Bitcoin is treated as property by the IRS, which means federal estate tax law applies to any bitcoins that your descendants receive. Estate tax is generally paid by the decedent (it's required only for assets worth more than $11.4 million), and depending on the state you live in, descendants may be required to pay state inheritance taxes as well.
We like ZenLedger
Because it’s an exceptionally robust offering. They cover every tax form that you or your CPA would need, connect with all major exchanges and wallets, and are TurboTax Premier Partners.
We also like that they offer both a streamlined options for loading in your transactions, as well as options for privacy-conscious HODLers (Note: Zenledger requires no KYC).
Like Casa, they also offer their services on a sliding scale - with a free plan for casual Bitcoiners and fully prepared CPA plans that include a tax professional to help with every step of your filings, 24/7 support, and some great tools to better visualize your transactions and taxes owed.
To learn more
To learn more and get started with your research:
- (Guide) Getting started with Zenledger
- (Article) Bitcoin Tax Calculator - Helpful primer for how Zenledger manages topics like capital gains, cost basis, harvesting losses, etc.
- (Webinar) How to Pay Crypto Taxes? Best Practices - Webinar covering existing regulations, best practices, regulator updates for the 2020 tax season
Privacy with ZenLedger
We’ve included some tips for privacy-conscious Bitcoiners to safeguard their privacy while using ZenLedger:
- Use a single-purpose email - Sign up with a one-off email that has zero reference to your real-world identity. If you choose to skip this step, then be sure the email you use cannot be associated with any of your existing exchange accounts. Failing to do this could potentially link your balances to your real-world identity.
- Pay with a virtual credit card - Privacy.com is a great option.
- Add your exchange transactions via CSV import and NOT via API integration - For ZenLedger to compute your owed taxes, you’ll need to import your taxable transactions. Importing these manually (vs. granting ZenLedger view-only API access to your exchange accounts) creates extra work for you, but we believe it’s worth the effort. If you wish, you can also add transactions manually without indicating which exchange they were executed on.
- Pause before adding your Casa transactions - Since you aren’t trading from your Casa account, it’s important to know that it’s not necessary to import your Casa addresses but we do recommend importing the transactions in order to get tax support from ZenLedger!
- If you decide you’d like to upload your Casa transactions - You can download your transactions by logging into your Casa account and selecting 'Download Transaction History.' Consider possibilities as such only uploading some addresses or adding the transactions manually. The latter option, while potentially time-intensive, allows you to track on-chain balances without indicating addresses.
Still not a Casa member?
Casa Gold is FREE to try, and only takes 10 minutes to set up if you have a hardware wallet. Start today!
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