📲 Insider Info in my Socials 👉 https://guy.coinbureau.com/socials/
🛒 Koinly: Taxes Done In Under 20 mins 👉 https://guy.coinbureau.com/koinly/
👕 “Keep Calm” T shirt 👉 https://store.coinbureau.com/product/keep-calm-black-t-shirt/
🔥 TOP Crypto TIPS In My Newsletter 👉 https://guy.coinbureau.com/signup/
~~~~~
– TIMESTAMPS –
0:00 Intro
1:36 Why a Tax Tool?
4:05 CryptoTrader.Tax
8:39 Accointing
12:01 Bear.Tax!
16:05 Tokentax.co
19:00 Koinly
23:23 Conclusion
~~~~~
💸 Get Your Crypto Tax Solution 💸
► 🇺🇸 10% OFF CryptoTrader.Tax (Code: CRYPTOTAX10): https://www.coinbureau.com/r/cryptotrader-tax
► 🇺🇸 🇦🇺 🇬🇧 🇩🇪 🇨🇭 🇦🇹 Accointing Up To £60 Discount: https://www.coinbureau.com/r/accointing
► 🇺🇸 🇨🇦 🇦🇺 🇮🇳 Sign Up To Bear.Tax: https://www.coinbureau.com/r/bear-tax
► 🇺🇸 🌍 TokenTax for NFT Traders: https://www.coinbureau.com/r/tokentax
► 🌍 Koinly Do Those Taxes In Minutes: https://guy.coinbureau.com/koinly/
~~~~~
⛓️ 🔗 Useful Links 🔗 ⛓️
► CryptoTrader.Tax integrations: https://cryptotrader.tax/integrations
► CryptoTrader.Tax accountants: https://cryptotrader.tax/crypto-tax-accountants
► Accointing integrations: https://www.accointing.com/en-GB/integrations
► Bear.Tax integrations: https://bear.tax/exchanges.html
► TokenTax integrations: https://tokentax.co/integrations/
► Koinly supported countries: https://help.koinly.io/en/articles/3663358-which-countries-does-koinly-calculate-taxes-for
► Koinly integrations: https://koinly.io/integrations/
~~~~~
🤔 Why Use A Tax Tool? 🤔
Once you have made those mad crypto gains, you have two options.
1. Stash that crypto away and pretend those gains never happened.
2. Run the numbers and work how much tax you owe.
Those that want to legally pay their taxes and enjoy those gains are probably going to want to get that done in the easiest way possible. However, it can be hard to find a crypto accountant and they can be super expensive.
Sure you could spend weeks with a load of spreadsheets or you could use a crypto tax tool to save you a lot of time and stress.
5️⃣ CryptoTrader.Tax 5️⃣
This tool is mainly geared towards US residents and is trusted by over 100,000 traders for filing their taxes. Data imports are made a breeze with integrations with major wallets, major DeFI platforms and most crypto exchanges.
Once all that data is imported, the tool will then automatically work out the cost basis of your trades by using historical price data. You’ll then get your tax reports within seconds!
Those based in the US will probably be relieved to know that the tool also spits out a TurboTax direct import too. So you can upload that to TurboTax and you are done!
Next, you have tax loss harvesting reports which are super useful for planning future trades and potentially reducing that capital gains tax bill.
Some people may want to get that automated tax report checked out by a proper accountant and CryptoTrader.Tax offers you that option too.
4️⃣ Accointing 4️⃣
Accointing helps you track that portfolio and file those crypto taxes too. It works very similar to CryptoTrader.Tax but it has even more integrations – sitting at 300+.
Data imports here are done by CSV uploads, API connections and just providing your public address. Another neat thing is that when you import those transactions, their classifications are heavily automated.
As Accointing takes into account all the strange tax rules in US, Australia, the UK, Germany, Switzerland and Austria, it makes filing taxes in those countries simple.
3️⃣ Bear.Tax 3️⃣
This tax solution generrates reports on the FIFO and LIFO methodologies – which turn out to be widely used accounting methods.
Data is imported using CSV and APIs, with over 50 exchanges supported. On top of that, Bear.Tax has a bunch of unique features that I go through in detail in the vid!
2️⃣ Tokentax.co 2️⃣
This is a similar tax tool to the others I have mentioned. However, it supports a plethora of different DeFi platforms, major wallets and is the only tool I have found that will do those tax reports for NFTs.
1️⃣ Koinly 1️⃣
Koinly generates tax reports for over 20 countries and also any country that uses FIFO, LIFO, highest cost, lowest cost, average cost basis or shared pool accountancy methods. So yep, that’s most of the world!
Watch my vid where I tell you why I think this is the best crypto tax tool out there!
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#crypto #tax #bitcoin #koinly #accointing
Let's face it guys, taxes are a part of life in most countries. Therefore, I hope that some of these tools can help to ease your burden this tax season! Don't forget that you can follow me on my socials for all the content that you are missing here 👉 https://guy.coinbureau.com/socials/ . You may also be interested in my clips channel that has all the behind the scenes bits and shorter form content https://www.youtube.com/channel/UCR93yACeNzxMSk6Y1cHM2pw
Guy will the Coin Bureau do an update to the different crypto tax software options for this year? Particularly of interest is which software is best if you were doing staking in a personal wallet like Daedalus.
Can you make another one of these videos for this year?? Please
No thoughts on Cointracker?
I just used CoinLedger. Oh My God! That was simple. Thanks Guy!
Zenledger way better
In a few months or no time, people will kick themselves and regret missing the opportunity to buy or invest in cryptocurrency.
To be successful, you need to make plans and work towards them. Investing is still the smartest way to prepare for the unexpected. I have been investing consistently for 6 years and I am extremely pleased with the returns. For anyone who wants to start; The good news is – it's never late to start..
After looking into customer testimonials and
reviews, I recommend Best tech for recovering
your lost wallet data
After looking into customer testimonials and
reviews, I recommend Best tech for recovering
your lost wallet data
Thank you. Thank you. Thank you. Thank you. Thank you.
I believe that government taxation on cryptocurrencies is a fantastic idea, but I doubt that it can be readily executed. Apart from that, we as crypto investors should concentrate on high-level securities projects such as Humanode, which provides biometrics and outstanding security features to investors worldwide.💯
Koinly is shit, don’t use them.
Great video🙏. I started watching your videos last year as a beginner before giving stock market a trial. I was able to make $17,300 in one month with the capital of $4,000 trading with an experience expert Ms Stella louis who guided me through out my trading.
Crypto investing has brought me great success !!! Irrespective of the economic dipression I can boast of over $ 12,000. every week on my investment. Thank you for your focus on quality . stock Maureen.
Excellent information. Thank you.
Thanks bro 😎
You have to be consistent in your approach, Forex trading is always difficult but Mr Robertuptrade is very good.
my GOD i never knew we could have a man like this on here he is absolutely true to his words i strongly recommend him for investors who are really ready to earn good returns on investment he has good strategy⬆️Mr Robertuptrade
How do we calculate staking tax liabilities
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I will forever be in-depted to you Maureen Leo you've changed my life, I'll continue to preach about your name for the world to hear, you've saved me from a huge financial dept without minding my bad credit score with just a little investment
Thank you so much. I wish I'd found this video in January 22. It was such a nightmare finding the right software. After dozens of hours looking for the right one. I found Koinly, and only then I ran across this video. I love Koinly!
I just need the one that has the fewest errors or at least that makes errors easy to fix aarrggghh
My greatest happiness is the $ 28,000 biweekly profit I get consistently
does this only work with exchanges? i have tons of transactions of all types on the wax blockchain but they don't all go through exchanges, actually, very few do. a lot of nft transactions. thanks
Thanks so much! This is a #1 crypto-tax video.. GREAT amazing guidance..
One of the biggest downsides of Koinly is how they count transactions when it comes to the different pricing tiers. If you happen to be staking or lending your coins and you are receiving rewards often (often it's once or twice a week but in some cases can be daily or even more often) all those small chunks add up and it won't take too much before you need to get a higher tier plan. It's not great when you're forced to get the Trader plan for $179 or even the custom one for small bits like that.