u/DaMeteor

Accepting crypto as payment for a business: What crypto tax software should I use?

I used the search function but didn't find any recommendations about this specifically. I accept crypto as payment with my business, probably get around 50-100 payments a month from crypto. I started this business this January, have been doing: Accept crypto as payment (basically just the common ones like bitcoin, ETH, Solana, XRP, USDC/USDT) on Trust wallet, convert to USDC (on Trust wallet), send USDC to Robinhood, sell USDC on Robinhood (I guess I could've sold directly on trust wallet made things simpler, but this has been my flow since the beginning). The minute capital gains tax from swapping and selling is one thing (I do it pretty quickly), but the biggest thing I need is the ability to see the FMV at receipt (which is the business income). If I can, I'd like to be able to integrate this with some sort of accounting software (my concern is both with basic accounting, and doing taxes).

Most software seems to be oriented around investors and traders (clear "I spent $100 on this bitcoin, I sold it and made $120). Not for "I received 75 $100 payments in a month from 50 different crypto addresses and I need to count that as business income". So far the only thing I've found is Summ's business plan but that's $3,600 a year (yikes). Crypto is a lot more complicated now than it was 10 years ago...

If anyone has experience with this, or has a good recommendation, please let me know. Thank you.

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u/DaMeteor — 8 hours ago