๐Ÿ“ฒ Insider Info in my Socials ๐Ÿ‘‰ https://guy.coinbureau.com/socials/
๐Ÿ›’ Koinly: Taxes Done In Under 20 mins ๐Ÿ‘‰ https://guy.coinbureau.com/koinly/
๐Ÿ‘• “Keep Calm” T shirt ๐Ÿ‘‰ https://store.coinbureau.com/product/keep-calm-black-t-shirt/
๐Ÿ”ฅ TOP Crypto TIPS In My Newsletter ๐Ÿ‘‰ 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

~~~~~

๐Ÿ’ธ Get Your Crypto Tax Solution ๐Ÿ’ธ

โ–บ ๐Ÿ‡บ๐Ÿ‡ธ 10% OFF CryptoTrader.Tax (Code: CRYPTOTAX10): https://www.coinbureau.com/r/cryptotrader-tax
โ–บ ๐Ÿ‡บ๐Ÿ‡ธ ๐Ÿ‡ฆ๐Ÿ‡บ ๐Ÿ‡ฌ๐Ÿ‡ง ๐Ÿ‡ฉ๐Ÿ‡ช ๐Ÿ‡จ๐Ÿ‡ญ ๐Ÿ‡ฆ๐Ÿ‡น Accointing Up To ยฃ60 Discount: https://www.coinbureau.com/r/accointing
โ–บ ๐Ÿ‡บ๐Ÿ‡ธ ๐Ÿ‡จ๐Ÿ‡ฆ ๐Ÿ‡ฆ๐Ÿ‡บ ๐Ÿ‡ฎ๐Ÿ‡ณ Sign Up To Bear.Tax: https://www.coinbureau.com/r/bear-tax
โ–บ ๐Ÿ‡บ๐Ÿ‡ธ ๐ŸŒ TokenTax for NFT Traders: https://www.coinbureau.com/r/tokentax
โ–บ ๐ŸŒ Koinly Do Those Taxes In Minutes: https://guy.coinbureau.com/koinly/

~~~~~

โ›“๏ธ ๐Ÿ”— Useful Links ๐Ÿ”— โ›“๏ธ

โ–บ CryptoTrader.Tax integrations: https://cryptotrader.tax/integrations
โ–บ CryptoTrader.Tax accountants: https://cryptotrader.tax/crypto-tax-accountants
โ–บ Accointing integrations: https://www.accointing.com/en-GB/integrations
โ–บ Bear.Tax integrations: https://bear.tax/exchanges.html
โ–บ TokenTax integrations: https://tokentax.co/integrations/
โ–บ Koinly supported countries: https://help.koinly.io/en/articles/3663358-which-countries-does-koinly-calculate-taxes-for
โ–บ Koinly integrations: https://koinly.io/integrations/

~~~~~

๐Ÿค” Why Use A Tax Tool? ๐Ÿค”

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.

5๏ธโƒฃ CryptoTrader.Tax 5๏ธโƒฃ

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. Youโ€™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.

4๏ธโƒฃ Accointing 4๏ธโƒฃ

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.

3๏ธโƒฃ Bear.Tax 3๏ธโƒฃ

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!

2๏ธโƒฃ Tokentax.co 2๏ธโƒฃ

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.

1๏ธโƒฃ Koinly 1๏ธโƒฃ

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, thatโ€™s most of the world!

Watch my vid where I tell you why I think this is the best crypto tax tool out there!

๐Ÿ“œ Disclaimer ๐Ÿ“œ

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

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