Karen Khine
2 posts
May 29, 2025
2:59 AM
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Navigating taxes on crypto gains means prepping for IRS audits, which hit hard if your records are shaky. Auditing requires the team to provide all records of their trades, interests and swaps and missing any can bring about penalties. Many traders have lost $5,000 because they did not provide reports for only $200. Be sure to keep a record of all your logging, receipts and goods sent out for proof of your business physical inventory. If your audit is unclear, you risk paying a $10,000 penalty. If you haven’t prepared, you will not make it.
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