While it may be exciting to calculate crypto earnings, remember that you have to pay taxes for each transaction. You can make what's already tricky a lot more difficult if you don't speak with a crypto tax consultant or automate the process with software. Navigating the tax liability becomes quick and easy with software. In this article, we’ll help you on your journey to choosing the top crypto tax software.
With the growing value of NFTs and the potential for abuse and fraud, governments and tax authorities have started developing strict laws and regulations on this asset type, making NFT taxes a hot topic. Logically, many business and individual NFT holders are looking for a reliable approach to handle this delicate matter, and one of them is to hire an NFT tax accountant. For those who need more insight, we’ve compiled this article with all you need to know about an NFT tax accountant.
Yes — taxes are inevitable, and we get why you’d be tired of paying half of your short-term profits and 20% of your long-term gains to the IRS. That’s why we prepared this blog post. Now it’s time to answer the million-dollar question, “how do I avoid paying taxes on Bitcoin?”.
Have you lost money on crypto trades this year? You can save thousands of dollars on your tax bill. By claiming deductions and offsetting your income against your crypto losses, you may be able to reduce your tax bill. Of course, those are just two of the methods we’ve discussed here below. Our guide on Bitcoin losses taxes will provide you with all the information you need and help you calculate your losses.