CryptoTrader.Tax

Taxes, huh? Sounds boring, right? WRONG! I mean, who doesn't love saving money and reducing the amount of cold hard cash you owe Uncle Sam?! One of our users recently saved more than $25,000 on his taxes by leveraging a tax loss harvesting strategy with his cryptocurrency investments... What's up everyone! I'm one of the makers behind CryptoTrader.Tax along with Lucas Wyland and Mitchell Cookson. We built CryptoTrader.Tax two years ago to automate the entire cryptocurrency tax reporting process after we realized how impossible it was to do by hand. We've been adding more and more features over the years, and we're excited to be launching the Tax Loss Harvesting tool within the app! How does Tax Loss Harvesting work? Tax Loss Harvesting is the practice of selling a capital asset at a loss to offset a capital gains tax liability. By realizing or “harvesting” a loss, investors are able to offset taxes on both gains and income. Because cryptocurrencies are so volatile, the vast majority of crypto investors have enormous tax loss harvesting opportunities that typically go unnoticed. We are out to change that!! CryptoTrader.Tax users can import all of their cryptocurrency trades, transactions, and investments and immediately generate all of their tax forms based on their transaction data. With the Tax Loss Harvesting tool, CryptoTrader.Tax now analyzes your portfolio to detect which of your cryptocurrencies have the largest UNREALIZED losses and thus the biggest tax savings potential! You can realize these losses by simply trading into another cryptocurrency asset. When done correctly, you can save an immense amount of money on your tax bill! Especially if you've seen your cryptocurrencies decline in value... Have any questions? We'd love to answer them in the comment section! We're also offering the entire Product Hunt community 20% off all tax reports for a limited time with the coupon code PRODUCTHUNT. For more info on crypto tax loss harvesting: https://www.cryptotrader.tax/blo...