The current bull market is centred around #WIF and #PEPEâ with WIF priced at $2.08 and PEPE at $ 0.00000788 . And on the other hand #BTC⏠has hit ATH, with more news hopping in the feed that what if it lands ATH at $100k ! The volatility of the prices is increasing significantly.
The volatility means that all eyes shall be on the market for the next phase. In all these ups and downs, incurring both gains and losses are a prospect for all investors of these coins.But to actually regain your losses is it possible? Yes, while you calculate your taxes for all your capital gains on Kryptos.io , for your unrealised losses - Tax Loss Harvesting can always be the beacon of hope.
To actually get up to the pace you can always check our Tax Guides and see for yourself the benefits and the methods to proceed ahead.Â
Will BTC fall again ? It broke record after record, exceeding $71,000. $69,000 was a very important resistance point, but it exceeded it considerably and reached up to $71,000. The most important point here is that $BTC has now moved away from the 69,000 level and it has become difficult to fall below that level again. In this way, we can say that both $69,000 and $70,000 are now a support point for Bitcoin.
So will Bitcoin rise further from now on? Yes ,as per reports. Thanks to the approval of applications #Halving and #ETF , Bitcoin now has more momentum in the long term. These two positive factors are actually factors that will have an impact in the long term, not in the short term. For this reason, we can see Bitcoin testing above the $ 100,000 level this year.
Even though if you incur unrealised losses in future, With Kryptos you can gain them back through Tax Loss Harvesting and calculate your taxes in no time.
You can check our guide here on Tax Loss Harvesting: https://kryptos.io/blog/kryptos-advanced-guide-to-crypto-tax-loss-harvesting.
Put your thoughts in the comments, we are listening !
Lost âŹ15,000 in #Crypto but didnât know you could claim it as a capital loss? đ«
Many investors donât realize they can offset these losses against their gains, potentially saving âŹ5,000 in taxes! But without accurate records, those savings are out of reach. đ
Donât let your losses go to wasteâuse Kryptos to track and report them properly and turn this situation around. đȘ
Has this happened to you? Share your story below! đ
đ Start tracking your losses today: https://t.co/VLS8qoulBp
đ” Caught off guard by taxes after staking or adding liquidity in #DeFi?
Imagine this: you stake $10,000 worth of ETH and earn rewards, but later find out you owe $2,000 in Capital Gains Tax because you didnât realise DeFi activities can trigger CGT in Australia! đŹ
Donât let a lack of tax knowledge drain your profits!
With Kryptos, you can track every taxable event and stay compliant with ease. Start reporting your DeFi gains today before tax season deadline sneaks up!
đ Get your crypto tax report now: https://t.co/VLS8qoulBp
Sold your crypto and got hit with a 33% tax bill on âŹ20,000 profit?
Thatâs a whopping âŹ6,600 gone! đ±
In Ireland, If your profits exceed âŹ1,270, youâll owe 33% Capital Gains Tax.
Many investors overpay because they donât know how to legally reduce their taxes using available tools.
But you donât have to make that mistake. With Kryptos, you can track every transaction, account for fees, and calculate your real gainsâsaving you money in the process. đž
You must declare any foreign-held crypto under the IVAFE tax if its value exceeds âŹ15,000! Miss this, and you could face penalties from the Italian tax authorities. đ§
Accurate records are essential to stay compliant.
Thatâs where Kryptos comes inâtrack your foreign-held crypto seamlessly and generate tax reports with ease to ensure compliance with Italian tax laws.
đ Simplify your taxes now: https://t.co/VLS8qoulBp
This blog aims to provide a comprehensive and detailed overview of how cryptocurrencies are taxed in Ireland, recent regulatory updates, and practical tips for compliance.
This blog will provide a deep dive into how the Australian Taxation Office (ATO) currently views NFTs, recent updates to the regulatory framework, and how platforms like Kryptos can streamline the tax reporting process for NFT transactions.
Staking Rewards and Tax Compliance in Italy: How the 2024 Rules Impact You
As the crypto ecosystem evolves, so too does Italyâs regulatory landscape, with 2024 marking significant updates to the taxation of staking rewards. This blog provides a comprehensive overview of how staking is taxed in Italy, the recent regulatory updates for 2024, and how Kryptos can simplify compliance for investors.
Imagine finding out you couldâve offset those losses against your gains and saved âŹ3,300 in taxes -but missed out because you didnât know the rules!
In Ireland đźđȘ, You can offset your losses against gains to reduce your tax billâturning bad trades into tax-saving opportunities! đž
But hereâs the catchâyou need detailed transaction records to prove your losses. Without proper documentation, Revenue might not accept them. đŹ
South African crypto traders face up to a massive 45% Income Tax, while investors pay only up to 18% Capital Gains Tax? đł
But here's the kickerâSARS isn't always clear on which applies! It all depends on how frequently you trade and your intent. đ€
đ Donât risk overpaying or getting it wrong â Kryptos can help you track and classify your transactions accurately, ensuring you pay what you owe and nothing more! đȘ
đ Start tracking today with https://t.co/aiWKHsc8m9 and simplify your crypto tax reporting!