Crypto CPAs and Tax Accountants

Choosing the right crypto tax accountant isn’t just about finding a professional who understands Bitcoin and other cryptocurrency; it requires a team that values the full scope of digital asset taxation and stays up-to-date with evolving IRS guidance. While many accounting firms add crypto and NFT accountant duties as an afterthought to keep up with the times, Miller & Company LLP regards it as a service that needs a serious digital asset tax accountant. This dedicated team of CPAs deliver the most accurate, up-to-date crypto tax reporting. Call today to set up a consultation with a cryptocurrency tax accountant and see for yourself the difference it makes in your taxes.

Did Cryptocurrency Tax Reporting Change for Digital Asset Investors in New York?

Crypto tax reporting has changed significantly. The Internal Revenue Service (IRS) now receives transaction data directly from major exchanges, and unreported gains from previous years are no longer invisible. Additionally, the IRS now has the capability to see into your digital financial activity than ever before.

Starting with the 2025 tax year, digital asset exchanges and brokers are required to submit Form 1099-DA to the IRS annually to report your transaction-level data. Any discrepancies between what you report and what the IRS receives from your exchange are automatically flagged. IRS requires every digital asset tax investor to report transactions that include:

• Crypto tax reporting for every sale or exchange of cryptocurrency
• Staking rewards and mining income
• DeFi earnings, including liquidity pool income, yield farming returns and lending rewards
• Airdrops and hard fork proceeds
• NFT sales and royalties

“The stakes are highest right now, especially if you haven’t reported crypto transactions in prior years,” says Paul Miller, CPA and founder of Miller & Company, LLP. “We see clients every year who’ve traded actively for years and never filed a single crypto return. But now the question is no longer whether the IRS will find out, but whether you’ve already corrected the record.”

You can find experienced cryptocurrency tax accountants at Miller & Company, with offices all along the Eastern Seaboard, including in New York City, Washington, DC and Florida. They work with you to bring your reporting into full compliance before the IRS initiates a contact. If your crypto tax reporting is overdue or incomplete, a crypto tax CPA can assist you.

How Is Cryptocurrency Tax Reporting Different from Filing Traditional Investment Taxes?

Crypto tax reporting is more complex than reporting activity in stocks or bonds. For active digital asset investors in New York, that complexity can compound with every wallet, exchange and transaction type added to the picture. With a traditional brokerage account, your broker tracks your cost basis and sends you a single Form 1099-B at the end of the year. With cryptocurrency, however, the process is not only different, but more demanding. The reasons why crypto reporting is difficult include:

• A single active trader can generate hundreds or thousands of taxable transactions in one year. Each transaction requires its own loss or gain calculation.
• Swapping one cryptocurrency for another is a taxable event, unlike stocks, where only a sale triggers a tax obligation.
• The forms issued for the 2025 tax year often show gross proceeds, but an incomplete cost basis, which creates automatic IRS mismatch flags.

Navigating this tax framework can be difficult without the expertise of a talented crypto tax accountant on your side. For New York investors who’ve relocated or are planning to move to a lower-tax state like Florida or Texas, the digital asset tax burden and the process of establishing a new domicile while managing existing crypto positions are even more difficult because you also need careful residency tax audit planning.

“Most crypto investors underestimate how demanding their tax situation is until they sit down with one of our digital asset tax accountants to file their taxes,” says Miller. “A general CPA who files a handful of stock trades a year is just not equipped to handle hundreds of DeFi transactions and multiple wallets. That’s where Miller & Company tax accountants shine.”

How Does a Crypto Tax CPA at Miller & Company Reduce My Digital Asset Tax Liability?

The strategies used to legally reduce cryptocurrency taxes need to be more powerful and targeted for digital asset investors than for traditional stock investors. The most effective strategies almost always require year-round attention. A crypto tax CPA at Miller & Company identifies and applies tax minimization strategies tailored to your specific details, including income level, financial goals and remaining portfolio. Some of the most impactful reduction strategies your digital asset tax accountant uses include:

• Tax-loss harvesting, such as selling underperforming digital assets to realize a capital loss that offsets gains elsewhere through capital gains tax planning
• Holding period optimization, timing the sale of appreciated crypto assets beyond the one-year threshold to qualify for long term-capital gains rates of zero, 15 or 20 percent
• Gifting appreciated crypto by creating gift and wealth transfer planning to family members, removing assets from the taxable estate and transferring the cost basis to the recipient
• The wash sale rule advantage, since crypto is classified as property. Investors can sell at a loss and immediately repurchase the same asset without losing the tax deduction.

“Our crypto tax accountants always tell their clients that the wash sale exemption is, at the moment, a powerful tool available to crypto investors, but it won’t last forever,” says Miller. “Clients who act while this window is still open can capture a significant and permanent tax advantage that may not be available in future years.”

How Does Miller & Company Handle NFT Tax Accounting and Digital Asset Tax Reporting?

For creators and investors working beyond standard cryptocurrency trading, your NFT tax accountant at Miller & Company identifies and applies the distinction that most general CPAs easily miss. When an NFT represents a collectible, the IRS applies a 28 percent tax rate instead of the standard 20 percent long-term capital gains rate.

For NFT creators earning royalties every time their work resells, an experienced digital asset tax accountant ensures those earnings are correctly classified as ordinary income and reported accurately. This prevents the misclassification errors that trigger IRS scrutiny.

DeFi income requires an entirely different mindset, especially for high earners in Manhattan, where the combined federal, state and city tax rates can exceed 50 percent. For businesses dealing in digital assets in New York, the New York Department of Financial Services requires a BitLicense for companies involved in currency transmission, exchange or custody.

“The NFT and DeFi space is moving faster than most tax guidance can keep up,” says Miller. “Our NFT tax accountant team’s job is to stay ahead of those changes so our clients across New York — and beyond — are never caught off guard by a tax technicality they didn’t see coming.”

Why Do New York Crypto Investors Choose Miller & Company, LLP as Their Crypto CPA?

If you deal in cryptocurrency or NFTs, you need a crypto tax CPA who has the credentials to back every position they take. The CPAs at Miller & Company have delivered a high standard of excellence since Paul Miller founded the firm in 1995. Miller is regularly quoted by tax authorities in U.S. News & World Report, GOBakingRates, Fortune and Woman’s World. This level of recognition doesn’t come easily. It’s a symbol of perfection and excellence.

Each cryptocurrency tax accountant on your team offers you a strategy based on you and your specific situation, not based on a generic checklist. While other firms may have added crypto as an afterthought, Miller & Company offers digital asset tax accountants as a core specialty. An NFT tax accountant understands that what you need is more than standard reporting, which is why your team at Miller & Company handles every transaction type with precision.

With offices in Midtown Manhattan, Queens and Long Island, as well as Sarasota and Fort Myers, Florida and Washington, DC, this accounting firm covers every dimension of your digital asset tax obligation. If you’re looking for crypto tax CPA services, contact Miller & Company today to book a crypto tax reporting consultation.

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