All Articles    |    Updates from Blox    |   CPA    |   Company News    |   Crypto Projects    |   Crypto Tax   |   Industry News

The Top Crypto Accounting & Tax Firms You Should Know About 2020

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on telegram
Telegram
Share on email
Email
Share on whatsapp
WhatsApp

The year 2020 will be a landmark year for cryptocurrencies and blockchain technology, especially for the growing industry of crypto accounting and taxation. The arrival of increased government clarity and regulation of digital assets has changed the way the world looks at and interacts with digital assets. The eagerly awaited introduction of preliminary legal guidance from the IRS means crypto investors and crypto businesses alike, are investigating how to handle and manage their cryptocurrency assets. 

 

The complexities of cryptocurrency accounting and tax have produced incredibly challenging accounting scenarios, tax challenges and grueling calculations. For small investors, DIY tax and accounting could possibly be an option. But for businesses, high-networth individuals or professional investors, they require the support and resources of professional tax and accounting firms to get the job done.

 

In no particular order, Blox would like to share some of the top crypto accounting and tax firms that you should know about in 2020.

 

*The order of this list was generated using an online randomizer.

 

 

Aprio LLP

About: 

Since 1952, clients throughout the U.S. and across more than 40 countries have trusted Aprio for guidance on how to achieve what’s next. As a premier, CPA led professional services firm, Aprio delivers advisory, assurance, tax and private client services to build value, drive growth, manage risk and protect wealth. With proven expertise and genuine care, Aprio serves individuals and businesses, from promising startups to market leaders alike.

 

With the shift to and emergence of more cryptocurrencies and crypto-businesses, Aprio’s blockchain team has pioneered blockchain accounting, having provided tax, audit and audit readiness and consulting services to companies on the blockchain for over six years. This experience has allowed Aprio to develop accounting and financial reporting best practices that help companies navigate the domestic and international accounting and tax obstacles associated with tokenization and cryptocurrency. Today, Aprio partner, Jagruti Solanki, is a member of the AICPA’s Accounting and Audit Digital Task Force and the firm is actively involved with the Wall Street Blockchain Alliance and Chamber of Digital Commerce.

 

List of Crypto Services:

  • Tax Compliance
  • Tax Planning
  • Audit Services
  • Audit Readiness
  •  Information Assurance Services such as SOC I and SOC II
  • Financial Reporting Advisory Services, including accounting of digital assets and tax implications
  • Blockchain Consulting and Advisory
  • Assistance with MSB Reporting and Filings
  • Compilation of Financial Statements with Footnotes
 

Notable Clients:

  • Crypto payment processing company
  • Crypto ATM providers
  • Crypto exchanges
  • Wallet providers
  • Crypto hedge funds
  • Mining companies
 

BPM LLP 

About

BPM LLP (“BPM”) is one of the largest U.S. West Coast-based CPA firms that specializes in serving the digital assets and blockchain industry. BPM provides audit, tax, consulting, advisory and compliance services to businesses, including corporations, flow-through entities and individuals. Our professionals have extensive knowledge and experience in dealing with accounting and auditing matters, as well as regulatory and compliance issues, including revenue recognition, tax structuring, international tax, internal controls and compliance, IT compliance, enterprise risk management and accounting services. In addition to blockchain and digital assets services, we assist clients with a wide variety of tax, assurance and advisory issues – from international tax and lease accounting compliance to data privacy security and ERP implementation.

 

List of Crypto Services:

BPM’s integrated approach allows us to simplify complex business processes as a “one-stop” shop. Our service offerings to the cryptocurrency and blockchain ecosystem include but not limited to:

  • Financial Statement Audits
  • Controls for Digital Assets
  • Global Tax Structuring or Restructuring
  • Corporate and Flow-Through Entity Tax Services
  • R&D Tax Credits
  • Transfer Pricing
  • Outsourced CFO and Accounting Services
  • Systems Implementation
  • Internal Controls Policies and Procedures
  • Enterprise Risk Management

 

Notable Clients:

BPM works with a diversified portfolio of clients within the blockchain and digital assets ecosystem, given our vast experience in this industry.

 

Armanino

About:

Armanino is a top 25 accounting and consulting firm providing traditional CPA services, such as audit, tax, and consulting services. They are regarded as a trusted resource for the various needs of the crypto industry.  Additionally, their Blockchain Group pioneered the cryptocurrency and digital asset space in 2014, and has since served exchanges, stablecoins, protocols, token projects, miners/stakers, and funds.

The firm prides itself on providing unique solutions at the intersection of distributed ledgers and accounting. These innovations include the launching of the first ever Blockchain powered real-time audit application in partnership with TrustToken, and exposing a Trusted Node for the Hedera Hashgraph ecosystem. A definitive leader in the space, they will continue to provide trust and transparency to the blockchain industry as technology is a focus of the firm and key to the future.

 

List of Crypto Services:

Our services include audit, tax, consulting (i.e. SOC reporting), and a range of other unique solutions for the ecosystem. Feel free to reach out and ask us about anything!

 

Notable Clients:

  • TrustToken
  • Hedera  
 

Friedman LLP

About: 

Friedman LLP is a national leader in the tax and accounting space, with a history of almost one century.  Friedman has a dedicated and specialized team of professionals who provide digital asset and crypto currency services to both domestic and international clients.  For the past five years, Friedman’s specialized team is constantly engaged in discussions with industry leaders and regulators and therefore, understand the compliance requirements associated with the evolving market of crypto. 

Their expertise enables digital asset and distributed ledger technology companies, from start-ups to mature businesses, to innovate and create—knowing that their accounting, reporting, internal controls, tax optimization, and tax compliance requirements are properly managed and assessed. Friedman’s dedicated team understands the complex challenges that companies face with digital assets and crypto currencies and the underlying blockchain technology, as well as the governance and compliance requirements associated with these new and evolving markets.

 

List of Crypto Services:

  •       Audit and tax
  •       Enterprise risk management
  •       Fraud assessment
  •       Internal controls assessment
  •       Internal audit
  •       SOC1 and SOC 2 report and assessment
  •       Cybersecurity
  •       SEC filing support
  •       SOX 404(a) and 404(b) ICFR “readiness” and assessment
 

Notable Clients:

Grayscale Bitcoin Trust (BTC) is a notable Friedman client; along with dozens of other organizations in the crypto space.

 

Cohen & Co

About:

Working with multi-national funds and a wide range of digital currencies, including privacy coins, Cohen & Company is one of the leading cryptocurrency audit and tax providers in the country. The firm has more than 100 professionals providing in-depth expertise related to digital assets, initial coin offerings and crypto exchanges and is active in SEC and cryptocurrency industry groups, such as the AICPA Digital Asset Working Group and the Digital Chamber of Commerce. 

 

Named one of the fastest growing accounting firms in the country, Cohen & Company offers assurance, tax and advisory services to clients throughout the U.S. and worldwide. The firm serves a broad range of clients, from privately held companies and their owners; to public and private funds, advisors and fund service providers within the investment industry; to Fortune 1000 multinational enterprises. Cohen & Company has more than 650 associates in total throughout offices in Illinois, Ohio, Maryland, Michigan, New York, Pennsylvania and Wisconsin; and has an international presence in the Cayman Islands and Ireland.

 

List of Crypto Services:

  • Audits for funds and operating companies
  • Tax preparation and planning
  • SOC 1, SOC 2 and SOC 3 certifications
  • Stablecoin attest services
  • Valuation services
  • Due Diligence services
 

JFDI Accountants

About:

JFDI Accountants was formed in 2012 with the primary purpose of servicing clients as effectively and efficiently as possible. JFDI has a decisive motto: spend more time doing and less talking, thus JFDI = Just F**king Do It. In early 2013, JFDI got into the crypto space offering its fractional CFO services bundled with their enterprise back-office solution. Later, they successfully led the sale of its crypto exchange client to Kraken.

 

Today the company’s accountants are widely recognized as being leaders in crypto accounting, helping entrepreneurs and enterprises all over the world with crypto analysis, tracking & reporting. It’s important to note that Deloitte and its top cryptocurrency partners have forged strategic partnerships with JFDI.

 

List of Crypto Services:

  • Cost Basis tracking
  • Crypto Accounting
  • Crypto Basis Tracker
  • Reporting
  • Tax planning & optimization
  • Token sale reconciliations
  • Token compensation planning
  • Digital asset maintenance strategies
 

Wolf & Company

About:

Wolf & Company, P.C. is the largest Massachusetts-based CPA firm and one of the largest regional firms in the Northeast.  When you engage Wolf & Company, you engage a regional accounting firm that has a 109 year history. We have a unique ownership transition structure that ensures we will not have to merge with a larger firm in the future, potentially impacting our cost structure and service strategy.  This foundation has allowed us to grow to 33 principals and more than 300 professionals. Our growth has been entirely organic with a focus on attracting and retaining top clients and top talent. With Wolf & Company, you can be confident you will be partnering with a firm with 100+ years of experience and a structure in place to allow us to continue as an independent regional firm for the next 100 years.

 

Wolf works with clients in a limited number of industry verticals including Financial Services, Technology, Healthcare and Manufacturing, Distribution & Retail.  Our crypto clients are able to leverage our experience with both traditional financial services companies, including banks, hedge funds and broker-dealers, as well as venture-backed tech companies including numerous fintech and blockchain-based companies.  Wolf is also a PCAOB-registered firm with a significant practice of publicly-traded companies and has deep experience with public offerings. We are committed to supporting the crypto industry specifically and distributed ledger technology more generally. As such, we are active members of organizations such as the Accounting Blockchain Coalition and Wall Street Blockchain Alliance.

 

List of Crypto Services:

  • Financial statement audits, including PCAOB audits for Security Token Offerings (STO)
  • Broker-dealer audits
  • Corporate tax compliance
  • Individual tax compliance
  • Rule 206 custody audits
  • System and Organization Controls (SOC) audits
  • Regulatory compliance services including AML and KYC
  • Penetration testing
  • Data privacy services including GDPR and CCPA
 

Donnelly Tax Law

About:

Donnelly Tax Law serves American crypto taxpayers in 48 different countries worldwide. The company specializes in complex return preparation and the IRS defense of crypto investors. 

 

For crypto investors, Donnelly Tax Law has developed the “Bulletproof Crypto Tax Return” method which goes beyond preparing a return to anticipating how the IRS will select returns to examine. The company includes the anti-money laundering reports and other advanced techniques to avoid audits and examinations.

 

Founder Clinton Donnelly leads the company with his distinct legal skill set that addresses the unique anti-money laundering and tax reporting needs of crypto taxpayers. He is an Enrolled Agent with a law degree specializing in the international laws of financial regulation including taxation. Known as the Crypto Tax Fixer, Clinton is also the author of several books and video tutorials on cryptocurrency taxation, as well as US ex-pat taxes and the tax amnesty process.

 

List of Crypto Services

 

Donnelly Tax Law specializes in the “Bulletproof Crypto Tax Return” process for preparing individual and corporate returns. They also offer CryptoTaxAudit.com for crypto audit defense of individuals and small businesses. To date, we have prepared over 1000 tax amnesty returns.

 

CogCPA

About:

For over 30 years this boutique CPA team has provided exceptional value through fund audit, tax, and compliance services for the securities, futures, hedge fund, and cryptocurrency industries. As expert alternative investment accountants, clients will receive responsive cost sensitive help that is a perfect partner for small firms and start-ups.

 

Specializing in the financial industry, CogCPA provides exceptional value through personalized services and expertise for clients on 5 continents. As a strategic ally, they partner with industry clients and their service providers to help navigate risk requirements in the regulatory landscape. 

 

CogCPA also notably addresses the needs for today’s cryptocurrency funds, traders and mining operations.

 

List of Crypto Services:

  • Compliance & consulting
  • Annual AML & ethics audits
  • Auditing & accounting
  • Tax preparation
  • Disclosure document assistance
  • Attorney assistance
 

FireStone CFO

About:

Firestone CFO is a professional services firm that provides strategic finance and tactical accounting expertise to private, early stage, VC, and PE backed companies on a fractional basis. FireStone has been in the blockchain technology and cryptocurrency space since 2016 on an operational level as CFOs,  Controllers, and Accountants.
 

List of Crypto Services

  • Setting up books on various platforms
  • Transaction bookkeeping
  • Forecasting and cash flow modeling
  • Tax & accounting treatment
  • Liaison with tax & audit
  • Implementing crypto-native financial platforms
  • Financing rounds
  • Investment decks
 

Notable Clients

  • Bridge 21
  • ShapeShift
 

MG Stover

About:

MG Stover is the premier fund administration firm for digital asset investments. Since entering the space in 2014, we have played a pivotal role in institutionalizing alternative investments in both cryptocurrency and blockchain. Our specialized teams have unparalleled experience in crypto, from pioneering accounting standards for airdrops, forks and ICOs to establishing industry best practices on trade settlements, proper cutoff times and OTC integrations. We service digital asset hedge funds, venture capital funds, arbitrage funds, index funds, hybrid vehicles, tokenized funds and regulated products.  


We are also a founding sponsor and host of the first digital asset fund symposium for alternative investment managers. Since 2017, we have hosted the event in San Francisco, New York City and Chicago and had over 1,000 attendees. CoinAlts 2020 will be held in September in San Francisco.

 

List of Crypto Services

  • Digital asset fund accounting 
  • Portfolio reconciliation
  • Investor services & treasury management 
  • NAV calculations
  • Profit and Loss allocations
  • Management & Performance fee calculations 
  • Expense accruals 
  • AML/KYC Procedures

 

Theorem Fund Services

About:

Theorem Fund Services is a multi-service fund administrator which offers a unique turn-key solution to investment managers that combines institutional level technology with strong industry experience and deep understanding of our clients needs and goals. 

 

Theorem provides a wide array of services that sets them apart from other firms.  Ranging from fund administration, GAAP preparation, Crypto Fund services, Fund Fact sheet preparation and a variety of management and accounting services to suit the needs of a diverse client base.

 

List of Crypto Services

  • Fund administration & accounting services
  • Portfolio accounting
  • Management company accounting
  • Investor relations services
  • FATCA compliance
  • Crypto Fund services

 

Centri Business Consulting LLC

About:

Centri Business Consulting, LLC provides finance and accounting consulting services specializing in financial reporting, technical accounting research and position papers, internal controls, valuation services, CFO advisory services, transaction advisory and audit support & readiness. They service companies of various sizes and industries including digital currency, technology, cannabis and life sciences.

 

Centri offers a wide variety of services to crypto clients focusing on technical accounting and advisory services. Their expertise in technical accounting enables them to provide clients with token fair value analysis and digital asset classification, principal market and pricing analysis, revenue recognition, and audit preparation and support. Additionally, they also provide general ledger implementation, bookkeeping support and CFO and management advisory services.

 

List of Crypto Services

  • Technical Accounting &  Advisory Services
  • Token Fair Value Analysis
  • Digital Asset Classification
  • Principal Market & Pricing Analysis
  • Bookkeeping
  • Audit Preparation

 

Mazars USA LLP

About:

Mazars USA LLP is a high-performing accounting, tax and consulting firm with significant national presence in strategic US geographies. Since 1921, our dedicated professionals have leveraged technical industry expertise to develop customized solutions for clients, create value, and Optimize their performance. We offer a broad array of industry specialists providing services to growth-oriented enterprises and individuals. As the independent US member firm of Mazars Group, we deliver seamless access to the expertise of 24,000 professionals in 90+ countries.

 

At local and global levels, we are proud of building diverse and rewarding experiences for our people, clients, and for the communities we serve.

 

List of Crypto Services

  • Accounting, Auditing and Assurance
  • Tax accounting services
  • Consulting services
  • Advisory services

 

Vauban

About:

Vauban is reinventing alternative investment with their unique wealth container platform.
In an increasingly globalised investment landscape, a digital-first and progressive approach is vital. VAUBAN is a next generation Investment Services Platform, allowing emerging fund managers, (U)HNWIs, family offices and institutional investors to structure and operate a variety of Investment Vehicles with ease and simplicity.

 

Emerging fund managers & established institution can use the platform to launch alternative investment funds and vehicles. Multinationals and global corporates can set up SPVs for acquisitions, managing joint venture projects, establishing local operating companies to further their commercial objectives. UNHWIs, tech entrepreneurs and international businessmen looking to safeguard and preserve their wealth can arrange to have their bespoke structures formed and operated, from dynasty trusts to family office vehicles.

 

List of Crypto Services

  • Fund & SPV structuring
  • Legal documentation
  • Investors onboarding
  • Transactional banking
  • Fund accounting
  • Online dashboard