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The speed, ease and cost savings associated with this type of currency means it has the potential to become the popular choice for payments. Most investors in cryptocurrencies are investing in them with the hope of realising capital gains. With Growing popularity and availability of easily accessible exchanges and software. Many people are investing Cryptocurrency more than ever before.
When it come to declared tax on your gain, calculating your capital gains or losses for Bitcoin and other cryptocurrencies isn’t always straightforward. To accurately calculate your crypto and pay the least amount of tax legally possible you would need to know the cost-basis of every token you own, track every profit and new basis when you spend or sell, and be able to work out the best way to identify your trades to optimize your taxes. Let Mycryptotax advisors do it for you.
We will provide you with easy to use tools to see your profitability, keep track of your profits even for the most sophisticated traders. Then, we compile that into your tax return that includes all of your other income, adjustments, credits, and deductions.