⏳ Final Hours! Minimize Your Taxes with the Safe Harbor Plan – Crypto Deadline Ends Today, 12/31!

Taxes might not be your favorite topic, but ignoring this could cost you thousands—and more.

Before you hang up the tinsel, watch this video and take action on December 31st, 2024 👉 https://www.cryptotaxaudit.com/1099?afmc=yt

It could mean the difference between keeping your hard-earned crypto gains or handing over a massive chunk to the IRS next year.

📅 Important: Take your inventory snapshot by December 31st! Don’t wait.

Step 1: Inventory Snapshot 💥
An inventory snapshot is your starting point. It’s a comprehensive list of your holdings across wallets and exchanges on a specific date.
Key Tip: Choose December 31st for simplicity.

Step 2: Gather Your Data 🛠️
Pull records from all exchanges and wallets.
✅ Include detailed transaction history and balances.

❌ Don’t forget cold wallets and staking accounts!
Step 3: Calculate Fair Market Value (FMV)

📊 Use historical pricing tools to calculate the $USD value of your holdings on the snapshot date. Tools like CoinMarketCap can make this easier.

Step 4: Assign Cost Basis 🗂️
Estimate the acquisition cost of each holding. If data is incomplete, allocate the cost proportionally based on total holdings. This step is critical for accuracy.

Step 5: Document Everything 📄
Keep a detailed record of your calculations, sources used, and any assumptions. This documentation will be your safety net in case of an audit.

🌐 Resources:
Blog: Safe Harbor Plan Overview: Step-by-Step Guide to Inventory Snapshot
Get started today with our comprehensive guide! https://www.cryptotaxaudit.com/blog/safe-harbor-plan-overview-step-by-step-guide-to-inventory-snapshot

Missed our AMA? Watch here: Crypto Tax AMA Recap: Safe Harbor Plan Explained: https://youtu.be/VhpF9eAcDxk

Please share with a friend or family member. If they are a US taxpayer & crypto investor, they need to see this!

📝 Get Ready for Taxes:

✍🏻 Sign up for our 2024 Tax Prep Waiting List today 👉 https://www.cryptotaxaudit.com/tax-prep-waiting-list?afmc=yt

Visit 👉 https://www.cryptotaxaudit.com/1099?afmc=yt to organize your records and Safe Harbor plan.

💬 Connect with Us:
Have questions about explorers or crypto taxes? 👉 https://www.cryptotaxaudit.com?afmc=yt

📞 Need Help?
Schedule a consultation today 👉 https://www.cryptotaxaudit.com/crypto-tax-consultation?afmc=yt

#CryptoTaxes #SafeHarborPlan #CryptoAMA #CryptoInvesting #IRSRegulations #TaxPlanning #Bitcoin #Ethereum #CryptoAudit #taxqanda

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