When to bring in a tax professional

The framework for crypto tax is published, but applying it to real transactions leaves many points on which views differ. Plenty of confident writing exists online, and most of it omits its premises. Whether it fits your situation is a separate question.

Typical reasons to consult: first, large amounts — the cost of an error scales with them. Second, years unfiled or possibly wrong, which brings judgements spanning periods. Third, transactions involving DeFi, overseas venues or NFTs, where the treatment is not clearly established. Fourth, any question of income classification; whether an activity has the substance of a business is the most dangerous thing to decide alone. Fifth, holding crypto in a company, where reasoning written for individuals does not carry over.

The useful timing is when the question arises, not just before the deadline — right after realising a large gain, while a gift is still being considered, while corporate holding is still a plan. Once executed, the available options narrow, and professionals are at their busiest immediately before deadlines with least time to think.

When choosing, check for actual crypto experience. Whether the professional can read exchange history, understands how DeFi works, and knows the quirks of calculation tools changes how the conversation goes. Many practices offer an initial consultation, so describing your situation and asking whether they can take it on is the practical first step.

Before the meeting, assemble a list of every venue used, the history you were able to retrieve, any calculation tool output, and screenshots of year-end balances. Even where the material is incomplete, bring a clear picture of what you have and what you do not.