Crypto Taxes: Why Everyone’s Avoiding the Conversation (And Why You Shouldn’t Care) October 9, 2026 at 4:32 PM ET · 3 min read · by David Strausser
Executive Summary
If you’ve ever bought crypto, you’ve already paid tax. It’s not about the coins—your actual profit or loss counts. Most people forget to report gains, but you don’t need a tax expert to do it right. Just track your trades, and you’ll avoid penalties without hassle.
The conversation about crypto taxes is one of the most avoided topics in the financial world. Why? Because it’s confusing. But here’s the thing: you don’t need to be a tax expert to handle it. In fact, you’ve already done the hard part—buying and selling crypto. The tax part is just a simple calculation.
For example, if you bought Bitcoin for $10,000 and sold it for $20,000, you owe tax on $10,000 profit. That’s it. No complicated formulas. No expert help. Just a straightforward calculation.
Most people avoid this because they think it’s too complicated. But the reality is, it’s simpler than you think. You don’t need a tax professional to handle your crypto taxes. You just need to track your trades.
### How do I know if I owe crypto taxes?
You owe tax on any profit you make from selling crypto. If you sold it for more than you bought it, you owe tax on the difference.
### Do I need a tax professional?
No. You can use free tools like crypto tax apps or even spreadsheets to track your trades.
### Why do people avoid talking about crypto taxes?
Because it’s confusing, and many think they’ll get fined. But the real issue is that most people don’t track their trades, not that taxes themselves are complicated.
The truth is, crypto taxes aren’t about the coins. They’re about the profit. If you don’t track your trades, you might not know how much you owe. But once you track them, it’s simple.
For instance, if you bought Ethereum for $500 and sold it for $1,500, you owe tax on $1,000 profit. That’s it. No complicated forms. Just a simple calculation.
The biggest mistake people make is thinking they need to be experts. But you don’t. You just need to track your trades. And that’s easier than you think.
This is why the conversation about crypto taxes is so avoided. Because most people don’t know where to start. But the good news is, you don’t have to be an expert. Just track your trades, and you’ll avoid penalties without hassle.
Another example: if you traded Bitcoin multiple times, you can use a simple spreadsheet to track each trade. Then, calculate the profit on each trade. Add them up, and you’ll know how much tax you owe.
You don’t need a tax professional for this. You can do it yourself. And the best part? It’s simpler than you think.
So, the next time someone says crypto taxes are too complicated, just remember: you’ve already done the hard part. Now, it’s just tracking your trades.
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