With Bitcoin hitting $64,000 earlier this year, I'm getting more questions about crypto reporting. Both the CRA and IRS now require detailed reporting — the IRS added a direct question on Form 1040, and the CRA treats crypto as a commodity. If you traded in 2020 or 2021, I can help you report it correctly.
I keep a close eye on developments like these so my clients don't have to. Tax law changes can significantly affect your filing strategy, and I believe the earlier you understand them, the better positioned you are to plan effectively.
Whether you file in Canada, the United States, or both, staying current on these changes is essential. In my cross-border practice, I've seen firsthand how policy shifts in one country can create unexpected obligations — or opportunities — in the other.
If you have questions about how this affects your specific situation, please don't hesitate to reach out. I'm here to help you navigate these changes and make the best decisions for your financial future.