Welcome to Blockstars Web3 Weekly Podcast
We will be talking about everything Web3 and Blockchain. Apart from the weekly Podcast, we will also use this platform to include keynote speeches our team presents. We will keep this light and fun, and easy to listen to. We will dive deep into the technology from time to time, but our goal is to educate and bring all of you on the Web3 journey with us.
We will talk about popular technologies such as Blockchain, Development, NFTs and Crypto, and please be advised whatever is spoken about here is not financial advice.
In this episode we speak with Nicholas who is the founder of Countdown Sheep a crypto taxation expert. This episode covers Nicholas’s transition from being a digital marketing professional to founding Countdown Sheep: a company that assists people and enterprises in the management of their cryptocurrencies and tax optimisation in the US, Europe, and Australia. Nicholas explains the complexities of the crypto taxation, how the big global firms are not equipped to deal with crypto taxes, and why a tailored made approach like Countdown Sheep is needed.
00:00 – Introduction to & What is Countdown Sheep?
03:40 – Global Crypto Tax Challenges
05:50 – Nicholas’s Journey from Digital Marketing to Crypto Taxation
07:30 – Crypto Taxation and the Role of Compliance
09:15 – Personal Crypto Investment Experiences
12:00 – The Importance of Digital Asset Reconciliation
14:30 – Tax Strategies: Minimising Liabilities Legally
16:40 – Navigating Cross-Border Crypto Taxes (US, Europe, Australia)
19:30 – Professional Crypto Accounting vs DIY Software
23:00 – Challenges Faced by Crypto Investors
26:00 – B2B Crypto Accounting for Businesses
29:15 – Nicholas’s Entrepreneurial Journey
32:40 – Crypto Tax Strategies: Tax-Loss Harvesting
37:20 – Shoutouts and Final Thoughts from Nicholas
41:00 – Conclusion and Takeaways from the Episode
Key Topics:
Comparing Do-It-Yourself Crypto Tax Software and Professional Service
Knowing the life story of Nicholas who has switched from digital marketing to crypto tax solutions.
This covers tax efficiency techniques such as cost-basis models as well as tax-loss harvesting
How crypto accounting has to be different as a discipline for businesses and individual investors
Nicholas is the founder of Countdown Sheep which focuses on providing solutions on crypto taxes.
Why crypto portfolio managers must pay attention to digital asset reconciliation.
Experienced accountants’ versus DIY cryptocurrency tax software for handling complicated tax situations.
Nicholas story of moving from digital marketing into the world of crypto accounting.
Topics such as tax loss selling and the right cost basis method of taxation.
Thought-Provoking Questions:
What can the global crypto investors do to ensure that they are on the right side of the law as regards tax compliance in different countries?
This paper aims at identifying the following: how does digital asset reconciliation contribute to accurate and compliant crypto tax reporting?
What strategies can the crypto investors use to ensure that they are making the most returns while at the same time being tax compliant?
Blockstars Technology is a blockchain development company with over 70+ people based in Australia Gold Coast
Blockstars can help you develop your Blockchain/AI project from idea to going live no matter what stage you’re in! With a team of experts in many different blockchains and a commitment to providing nothing but top quality services, Blockstars is your one stop shop for those seeking to launch a successful Web3, blockchain or AI projects.
Hope you guys Enjoy this light hearted episode! Tell us what else you would like us to cover on Blockstars Web3 Weekly.
Make sure to go check out our website for more info!https://blockstars.com.au
Also you can Tweet us on at X @blockstars_tech
Or drop us an email at: hello@blockstars.com.au
