First 1099
“As a freelance writer, my clients paid me entirely in cryptocurrency this year, how do I calculate the USD value of my 1099 income for tax time?”
Cryptocurrency compensation often raises a few moving parts at tax time, especially for freelance work where income may be received in multiple transfers rather than one cash payment. The USD value is usually tied to the fair market value at the time each payment is received, and the recordkeeping method, the exchange used, and whether any client statements show transaction dates can all affect the final figure. The form that gets issued, the dates of receipt, and the exchange rate source used for conversion are often the main details that shape how the income is reported. A CPA who reads your specifics can usually tell you, in plain English, where this lands.
In your 60-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I got my first 1099 and I'm completely lost, can you walk me through it?”
“I just left my W-2 job to go independent, how do my taxes change?”
“I just got a 1099-K from Venmo for selling my old personal clothes at a loss, do I actually have to pay taxes on this money?”
“I worked as an independent contractor for three months and never saved for taxes, what are my immediate payment plan options with the IRS?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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