The New Tool to Take the Crypto World by Storm
ZUG, Switzerland, Recently, ACCOINTING team have announced the launch of Trading Tax Optimizer, which will be the new tool to take the crypto world by storm. Trading tax optimization can be complex if not properly understood, which is why ACCOINTING.com has created the ultimate tool to help people in the US and Germany to optimize their trades for tax purposes. The users must simply connect their wallets and exchanges via API or wallet addresses, select their tax method, define the type of tax depot they’d like to use, and finally use the time slider to preview the taxable gains generated in the future. This tool allows users to simply track their portfolios and consider taxable events for the future in order to optimize their taxes. The platform is free for a limited amount of time and it’s available in German and English.
The Evolution of Crypto Taxes
The world of cryptocurrency keeps evolving every second. Every week, new protocols, blockchains, tokens, or exchanges are gaining wider acceptance in the already decentralized world. Trading methods like margin trading, futures, yield farming, and liquidity pool mining, NFTs, and many others have become a great source for innovation in the crypto world. However, these different innovative financial methods or transactions, as revolutionary as they might be, add a layer of complexity to the real world that, thus far, few people are aware of – taxes.
Types of Crypto Traders
From the hobbyist investor who got acquainted with crypto during this year to the professional crypto trader, both profiles got involved in the world of cryptocurrency, motivated by the idea of generating wealth and being part of something new and exciting – the future of finance.
However, they didn’t count on the future implications that this would trigger, such as new ways of taxation. Countries like Germany, Austria, Great Britain, and the United States have very complex taxation systems and they are not getting any easier for crypto traders. If this resonates with the reader, then they might be in the same debacle as most crypto traders in their fellow highly regulated countries when it comes to the crypto markets: how can I deal with crypto taxes?
About Trading Tax Optimization
The traders’ knowledge and ability to optimize crypto taxes will depend on several factors: for starters, on their previous experience with paying taxes on other assets, such as stocks, commodities, and futures, as these are taxed in a similar fashion as crypto. Another very important factor is knowing exactly when to optimize them, and that’s what makes crypto taxes more interesting: leveraging on the same tokens at different periods of time to optimize for fiscal purposes.
Trading tax optimization allows crypto traders to visualize, optimize, and plan their trades in the future, understanding the realized gains per token, broken down per exchange so they can easily identify what their next trade should be in order to reduce the tax burden and maximize profit. Trading tax optimization provides a hint of the future in order to act today to leverage on the tax consequences now. The strategy and execution will depend on two variables: the tax method and the depot arrangement.
Contact: Rodrigo Mayen, CMO