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.


Please share this if you learned something! What should
we discuss next? Comment! 


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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.