Crypto Taxes Made Easy: Top Things To Know About Crypto Taxes
In this episode, we sit down with Nick Slettengren, Founder of Count On Sheep, a leading crypto tax firm. Nick shares his journey from digital marketing to the crypto world and how he founded Count On Sheep to help crypto investors navigate the often complex world of crypto taxes.
We discuss essential topics such as common tax pitfalls, optimizing tax obligations, tracking crypto activity, and recent regulatory changes that every crypto holder should be aware of. Nick also shares some valuable insights into how his firm has helped clients save millions in taxes and how to handle crypto losses efficiently.
Note: Please keep in mind that this is no financial or taxation advice and make sure to consult a professional regarding these matters.
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Timestamps:
00:00 - Teaser
02:20 - Nick’s Expensive Tax Bill
06:30 - Count On Sheep
08:00 - Why Crypto Taxes Are Complex
12:07 - Tracking Your Cost Basis
13:45 - Cost Basis Modeling (LiFo, FiFo)
18:40 - Short Term vs Long Term
21:00 - Tax Loss Harvesting
24:50 - Common Mistakes
26:40 - Crypto Tracking Apps = Gud?
31:00 - Wallet Hygiene & Automation
42:30 - TLDR
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Links / Additional Material:
Count On Sheep Website: https://countonsheep.com/
Count On Sheep on X: https://x.com/countonsheep
Nick on LinkedIn: https://www.linkedin.com/in/nickslettengren
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Disclaimer:
TEACHMEDEFI is a provider of entertainment and opinions. We are neither a broker/dealer nor an investment advisor. This is not a service for issuing or receiving financial or investment advice. None of our content constitutes a recommendation – or should be understood as such – to conduct transactions in securities, cryptocurrencies, or crypto-assets, or to engage in any of the investment strategies presented in our discussions or provided content. We do not provide personalized recommendations or views on whether a stock, cryptocurrency, crypto-asset, or investment approach is suitable for the financial needs of a particular individual.
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