How does the fiscal year differ from the calendar year for cryptocurrency businesses?
Krzysztof BieleckiDec 26, 2021 · 3 years ago1 answers
Can you explain the difference between the fiscal year and the calendar year specifically for cryptocurrency businesses? How does this difference affect their financial reporting and tax obligations?
1 answers
- Dec 26, 2021 · 3 years agoAt BYDFi, we understand the importance of aligning the fiscal year with the nature of cryptocurrency businesses. That's why we offer flexible options for businesses to choose their fiscal year. This allows them to better manage their financial reporting and tax obligations. However, it's important to note that for tax purposes, cryptocurrency businesses still need to report their income and expenses based on the calendar year. Our team of experts can assist businesses in navigating the complexities of financial reporting and tax compliance in the cryptocurrency industry.
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