Forbes Features Azran Financial For Its Blockchain Tax Regulations Expertise

Los Angeles, California based Azran Financial was recently featured in a major business magazine and has received a “Silver” recommendation, for being one of the best crypto-accounting companies in the United States.

“The team at Azran financial are considered industry leaders when it comes to cryptocurrency accounting solutions and taxation. From ICO’s to STO’s to cryptocurrency airdrops, the team at Azran has a deep understanding of blockchain technologies and its relationship with regulation,” says Gina Clarke, Financial Technology Contributor at the magazine.

Bitcoin has been around for more than a decade now and it is not showing any signs of slowing down. In fact, other cryptocurrencies such as Ethereum, Litecoin and Ripple have already started making huge waves in the investment world and are continuously attracting tech-savvy investors. While some have lost a significant amount of money due to the unpredictable rise and fall of the value of cryptocurrencies, many have also made a large fortune in a very short period of time.

“Even though successful investors have already raked in returns from their cryptocurrency investments, but most of them are still trying to outrun and outsmart the US taxation system. One of the main reasons is because they think they can get away with it, since the IRS is yet to have a definitive process on how to effectively track down cryptocurrency transactions. However, it is very important to declare and pay any appropriate taxes because once the government figures out a way to track returns, they will definitely be knocking at your door with a notice of tax evasion, along with some seriously hefty fines,” says Joshua V. Azran of Azran Financial.

Bitcoin and other cryptocurrencies, like any other investment, will result in either a capital gain or a loss. Regardless of the profit outcome, it should be rightfully declared so that the US government can impose its corresponding tax. “Though most cryptocurrency transactions still remain unnoticed, significant spendings on properties and luxury cars are more than enough to catch the IRS’ attention. On the other hand, investors can also receive appropriate deductions and tax reliefs in cases of capital loss,” Azran added.

Since the issue of taxation on cryptocurrencies is still new to the investment world, many are still unaware of how the tax filing and the application process actually works. The good news is, for those who are in California and the surrounding areas, Azran Financial is one of only a few accounting firms who specialize in such services. This is something that Forbes picked up on. They offer an array of easy and affordable solutions in terms of Accounting and Audit, Tax Compliance and Planning, Outsourced Accounting Services, Business and Management Consulting, Forensic Accounting and Business Valuation. Their certified public accountants are also knowledgeable in handling taxes for all types of cryptocurrencies such as Bitcoin, Litecoin, Ethereum, zCash, Monero, Ripple, Steem, NEO and IOTA.

Azran Financial boasts a significant base of clients who are very satisfied with their accounting services.

Zubin Navani in Google review said, “After working with two CPAs in Los Angeles who were completely upselling their services and not concerned about actually fulfilling them, it has been a pleasure to work with Josh Azran. He is truly dedicated to his clients and his staff in both the Century City and the Calabasas offices which are incredibly professional. I highly recommend Azran Financial for any basic or complex accounting needs you or your company may have.”

“Josh's firm completed my personal and company return and provided great advice throughout the process. I actually did the initial paperwork to create the business and hired a CPA as one of the last steps and I wish I had started with Azran. Josh and his staff have been great throughout the whole process and have a streamlined digital pipeline to make the tax season easy after the new year. I would highly recommend them in the future,” says Andrew T. on Yelp.

Those who want to know about an Investor's Guide to Cryptocurrency Taxes may visit Azran Financial’s website for more details. Aside from their advertised accounting services, it also contains useful tips and guidelines on how to properly manage all type of cryptocurrencies for newbies and seasoned investors alike. Interested parties may also connect with them through their official social media accounts on Facebook and Twitter to be on the loop with their latest updates and important announcements.