ElectraFi

As the Australian 31 October deadline approaches for self-lodging tax returns, now is the time to act. If you hold crypto assets, it's complicated - you may need more time and professional help. By appointing a registered tax agent before this date, you'll secure an extension, giving you until 15 May 2025 to lodge your return and pay any tax due. Got overdue returns? We can help sort those out too, ensuring your crypto transactions are accurately reported and minimising the risk of ATO penalties.

In such a fast moving space, Cryptoworth are right to question whether this solutions landscape should be updated every quarter, not just annually. We're thrilled to be included, as it stands. Download their full State of Crypto Bank-Office report to discover how your business can stay ahead of the curve. https://lnkd.in/d7pgBZfw

We've been Xero app partners for many years, and love setting up clients' accounting systems and automations. Contact us if you need help upgrading your business's Xero app stack with crypto and digital assets in the mix.

😃 BIG SHOUT-OUT of APPRECIATION to Crypto Tax Calculator for working with ElectraFi to build their Stacks integration, just in time for the Bitcoin DeFi revolution as Stacks launches its NAKAMOTO UPGRADE! Now we can get our tax out of the way and spend more time Building on Bitcoin! Yayyyyyy! 🎉 📊 I just reconciled my own TAX REPORTS in a few hours (instead of all day) as CTC seamlessly imported all my Bitcoin & L2 Stacks wallet data with DeFi activities for categorising, instead of struggling with CSV templates. 👩💻 I'm also testing CTC's new ENTERPRISE product for my company and have to say I am impressed so far, and am keenly providing product feedback. 🤗 I am so happy we can now make the tax preparation process EASIER, more ACCURATE and MORE AFFORDABLE for our clients. Our Stacks Australia community is very grateful and my ElectraFi (accountants & tax agents) team is prioritising Bitcoin builders in Australia's 2024 tax season, ahead of the ATO's crypto crack-down. Reach out to me if we can help! 🟧Gordon Christian Hamish Jones Ian Banksia 🟧 Antonietta Fiorenza Brett Herskope Justin Trollip Adam Haun Mathieu Mingant Shane Brunette

Building a diverse network of expertise is essential for supporting our clients effectively. ElectraFi offers international tax insights to Bitcoin and crypto entrepreneurs, addressing the challenges of a borderless digital economy within traditional tax jurisdictions. Our global network of accounting professionals, combined with our decade-long experience in crypto accounting, enables us to navigate complex tax treaties and collaborate with overseas accountants. This ensures optimal business structuring and avoids double taxation for our globally mobile clients. While our Principal Accountant, 🟧 Electra Frost, is familiar with US tax through her 20 years in practice and international tax studies, we partner with specialist US CPAs like Satoshi Pacioli Accounting Services to integrate US and Australian tax considerations for international residents. Contact us if we may be of assistance.

Are you tracking the cost bases of your crypto assets correctly for your financial reporting and effectively for your best tax outcomes? How you use the assets and the software you choose to track them can impact the results.

👱♀️ "LOVE IT! This is already so much more communicative than my previous accountant!"💛 Recent feedback from a happy new client after an Accounting System Health Check, signing up for monthly services. 😐 New clients often receive a lot of attention from their accountants initially, but it tends to decline over time. Common complaints we hear are "my accountant didn't understand the crypto in my business" and "they just don't get back to me.". 😩 Many accountants are incredibly busy and may have too many clients, be understaffed, underscoping or undercharging. It's a tough gig, but business owners keep needing more from their accountants. 👩💼 So at ElectraFi we carefully manage our capacity to prioritise accessibility and responsiveness, by maintaining LOW CLIENT NUMBERS. ✨ We also set up COLLABORATION SPACES such as Slack, Google Spaces, or Telegram for efficient communication and task management, reserving email for formal discussions. 📊 Our monthly oversight and accountability services ensure that all our clients' accounting software and crypto are reconciled up-to-date with tax journals, compliance checks and reports, whether they are a solo director or a 50-person company. 🖐 This proactive approach ensures continuous support with on-demand financial reports for board meetings, investors, grant applications and lenders... AND minimises anxiety, unexpected costs, and future problems. ✈ Founders and entrepreneurs are busy people too, so I designed our service model with their needs in mind! 😊 Additionally, my staff experience less stress as everything becomes more easily manageable and predictable after an initial clean-up of the accounts and tax. 1️⃣ Our Accounting System Health Check is Step 1. 2️⃣ Sometimes bringing multiple overdue tax returns up to date is Step 2. 3️⃣ The ultimate goal is establishing a consistent monthly routine. 🥇 While our monthly service may cost a bit more than traditional accountants who only focus on historical tax returns, the peace of mind and quality of service speak for themselves. 🤔 I believe all accountants will eventually evolve their service models as we have. The traditional tax accountant model is unsustainable. It's like using a crypto subledger instead of Excel—once you experience the streamlined accuracy, you can't imagine going back to the old, harder way of doing things! Drop me a DM or info at electrafi dot finance for more info ...

Happy new financial year, Australian Bitcoiners and Bitcoin Builders! That means it's TAX TIME! ElectraFi has got your back. We start by choosing and using the right software to help aggregate all your transactions including those with Lightning network, Ordinals, Runes and on Bitcoin layer 2's like Stacks. Get in early if you have a few years to catch up on! Our team of Bitcoin ecosystem experienced accountants are ready to help you minimise overall taxable gains, before the ATO tries to maximise them for you. See our contact and onboarding links in comments below.

Kick Off the New Financial Year Right with ElectraFi’s Accounting System Health Check for Digital Business & Crypto! Your numbers tell a story, and we want to make it a true one. A Health Check by our Qualified Accountants is the first step to ensuring: ✅ RECONCILED: Accurate financial records. 🔗 INTEGRATED: Effective data flow. 🔧 SYSTEMISED: Efficient operations. 📝 TAX READY: Stress-free tax filings. 🔍 AUDIT READY: Audit-proof records. Start with ElectraFi's comprehensive report and action plan to drive your business forward. New financial year is next week. Don't delay! info@electrafi.finance

📅 Countdown to EOFY! Just 5 days left until the end of the financial year in Australia. Soon everyone will be scrambling to get their annual accounting in order for tax time. With crypto and Web3, it's more complicated. Get a head start! ElectraFi Accountants works with digital businesses, start-ups, entrepreneurs and creatives - in particular those using crypto, digital assets and DeFi. Our team is ready to get you up to date and establish a monthly process to streamline your new financial year. We specialise in crypto subledgers and crypto tax software, and accounting software integrations, making year-end easier. As qualified accountants and tax agents, we'll ensure compliance and bring peace of mind. Contact us now to see if we're a good fit: https://lnkd.in/eY8YfBGx