The current bull market is centred around #WIF and #PEPE 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.
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 !
Free money? Not quite. Here’s what you really need to know:
1️⃣ Airdrop = Income. Yep, the IRS sees it as taxable income the moment it hits your wallet. 2️⃣ Selling = Capital Gains. If $PENGU flies higher after the airdrop and you sell, the profit gets hit with capital gains tax.
💡 Pro Tip:
Track your “cost basis” (value when you got the airdrop) and sale price. Trust us – you don’t want to guestimate this during tax season.
Tools we built like Kryptos Tax @KryptosConnect make it easy to stay compliant without pulling your feathers out.
Don’t let taxes sneak up on your $PENGU. Fly high, but stay in the clear!
🚨 Think your crypto transactions are untraceable? Think again.
A Bitcoin investor was sentenced to 2 years in prison for underreporting and hiding over $4M in Bitcoin sales, resulting in a $1M tax loss for the IRS.
What happened, why it matters, and how to stay compliant 👇
Did you know that the Ireland revenue service tracks your #crypto activity across the EU? 😱
Many Irish investors overlook this, only to face hefty fines later.
In fact, penalties for crypto tax evasion in Ireland can double your tax bill, with fines up to 100% of the tax evaded, plus daily interest of 0.0219%. 🚨
You can even face jail time! Don’t wait until it’s too late.
With just a click of a button, Kryptos can track your crypto transactions from over 5000+ off- chain & On-chain platforms and automate your crypto tax reporting.
Lost €15,000 in #Crypto but didn’t know you could claim it as a capital loss? 😫
Many investors don’t realize they can offset these losses against their gains, potentially saving €5,000 in taxes! But without accurate records, those savings are out of reach. 📝
Don’t let your losses go to waste—use Kryptos to track and report them properly and turn this situation around. 💪
Has this happened to you? Share your story below! 👇
👉 Start tracking your losses today: https://t.co/VLS8qoulBp
😵 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 didn’t realise DeFi activities can trigger CGT in Australia! 😬
Don’t 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!
👉 Get your crypto tax report now: https://t.co/VLS8qoulBp