Learn how the specific identification method lets you track individual inventory costs and improve sales insights. Ideal for ...

Figuring the cost of goods sold is simple if you sell dozens of interchangeable items. One non-stick frying pan is much like another, for instance, so you don't need to tie specific costs to a ...

The tax calculations required for cryptocurrency investments heighten your return’s complexity, and often lead taxpayers to make mistakes during the filing process. For crypto users who use multiple ...

Every crypto investor eventually faces an important question: When I sell my crypto, how do I determine which coins I have actually sold? Because each of these digital assets is purchased at different ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

Many crypto traders face massive tax bills for 2017. Which accounting method they apply could change their tax bills by tens of thousands of dollars. Specific identification vs. FIFO The IRS wants the ...

As some digital asset brokers may not have had the technology in place to accept specific instructions or standing orders by Jan. 1, 2025, Notice 2025-7 provides temporary relief allowing taxpayers to ...