Accounting Services
When it comes to accounting, securities and cryptocurrency traders face several challenges. Incorrect accounting can throw off your entire tax return, so it's imperative to have your ducks in a row.

We offer our trade accounting service only in conjunction with our tax compliance service.
We offer an accounting service for traders in securities and Section 1256 contracts using specialized software that’s very robust and can handle the most hyperactive traders. Our accounting service respects our tax content across the board. We’ve been rendering this accounting service since 2000.
We also offer an accounting service for cryptocurrency traders. Accounting in this area can be a minefield without using the proper software. All types of coin transactions need to be included. Otherwise, the results cannot be accurate. Additionally, some crypto tax treatment questions remain unanswered by the IRS. We can assure you that we will stay on top of the developments.
Accounting Service For Securities Traders
Accounting for trading gains and losses is the responsibility of securities traders; they must report each securities trade and related wash-sale loss adjustments on IRS Form 8949 in compliance with Section 1091, which then feeds into Schedule D (capital gains and losses).
Broker-issued securities Form 1099-Bs provide cost-basis reporting information, but they don’t provide taxpayers everything they need for tax reporting if the taxpayer has multiple trading accounts or trades equities and equity options. Brokers calculate wash sales based on identical positions (an exact symbol only) per separate brokerage account. But Section 1091 requires taxpayers to calculate wash sales based on substantially identical positions (between equities and equity options and equity options at different exercise dates) across all their accounts including IRAs — even Roth IRAs. The best accounting solution for generating a correct and compliant Form 8949 is software that’s compliant with Section 1091. Don’t just rely on a Form 1099-B. (Exception: if there is only one brokerage account, the trading is only in equities, and there are no cost-basis adjustments including wash-sale losses). Many tax preparers and taxpayers continue to disregard Section 1091 rules, even after acknowledging differences with broker 1099-B rules. They do so at their peril if caught by the IRS.
When you consider a securities trade accounting software and Web-based solution, ask the vendor if they calculate wash sales based on Section 1091, and if not, you may want to skip that solution. TurboTax ads imply you can just import your 1099-B. You’ll spend a lot of time finding in their small fine print about having to make Section 1091 adjustments on your own. Some brokers offer a professional trade accounting software, but it makes wash-sale loss adjustments on identical positions, which is non-compliant.
We offer a full professional accounting service
We download your actual trades for the tax year into our trade accounting solution. We also download January of the subsequent year looking for wash sale (WS) loss adjustments at current year-end, if you not using Section 475 MTM. We will generate Form 8949 that is compliant with Section 1091 rules, and or Form 4797 for Section 475 trades. We also prepare Form 6781 for Section 1256 contracts. You can give these tax forms to your tax preparer or our CPAs for our tax compliance service.
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Accounting Service For Cryptocurrency Traders
If you invested in cryptocurrencies and sold or spent some during the year, it likely triggered a capital gain, loss, or other income, which you should report on your tax return. There is taxable income or loss on all coin transactions, including coin-to-currency trades, coin-to-coin trades, receipt of coin in some hard fork or split transaction, purchases of goods or services using a coin, and mining income. There are various types of fees related to coin transactions, and the tax treatment varies.
Cryptocurrency tax reporting is complicated and voluminous. We use a coin accounting solution to download coin transactions from your coin exchanges. You need to review the download file to be sure all your transactions were imported correctly. It’s normal to have some transactions entered manually.
By the default, we use the first-in-first-out (FIFO) accounting method for cost-basis on coin capital gain and loss transactions. The IRS requires the “specific identification” (SI) accounting method on intangible property, but most coin traders are unable to use SI since coin exchanges must confirm each SI transaction, and they do not.
As intangible property, cryptocurrencies are not subject to Section 1091 wash-sale loss rules for securities. A Section 475 election also cannot apply to coin since it’s not a security or commodity (Section 1256 contract). (See our coin tax and accounting content.)
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Accounting Service General Ledger
Entities require a balance sheet and profit and loss statement. That means debits and credits and reconciling accounting to bank statements.
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If you have any questions about our accounting services please contact us.