If you’ve ever worked with a crypto tax professional, you know that the costs can add up fast. Tracking wallets, DeFi transactions, and token swaps can take hours — and those billable hours aren’t cheap.
Here’s the good news: with one simple habit, you can reduce your crypto tax prep costs by up to 50% while making life easier for both you and your accountant.
Stay Organized with a Crypto Transaction Log
Before tax season hits, open a Google Sheet and title it Crypto Transactions. Each time you transfer crypto, stake tokens, or interact with a DeFi protocol, record these key details:
- Date and time: Use
=NOW()in Google Sheets, then paste the value so it stays fixed. - Transaction hash: Copy the transaction ID from your wallet or block explorer.
- Description: Add a short note such as “Swapped ETH for USDC on Uniswap” or “Transferred to cold wallet.”
Why This Crypto Accounting Tip Works
Most of what a crypto CPA or tax preparer bills you for is time — specifically, the time it takes to trace and match your blockchain activity.
By providing a clear record of your crypto transactions, you save them hours of data reconstruction and analysis.
Less time spent = lower accounting fees and faster crypto tax reporting.
The Bottom Line
A simple Google Sheet can make your crypto accounting faster, cheaper, and more accurate. Whether you’re an active DeFi user or a long-term holder, this habit ensures your crypto tax records are clean and ready when tax season arrives.
Start your sheet today — your future self (and your wallet) will thank you.
