Crypto Tax Reporting is Made Easy with STEX Integrated Smart Services
One of the more pressing issues that keep cryptocurrency traders up at night – or prevent new traders from entering the digital currency world – is how to deal with taxes on virtual holdings. Yes, the international cryptocurrency world is large and diverse, which can make keeping up with taxes seem complicated. But fortunately, STEX’s Smart Services offers tools and resources that can make tax reporting easy:
With more than 600,000 users, this robust platform takes all the guesswork out of declaring taxes on Bitcoin and other digital currencies. “CoinTracking calculates all of your trades exact to the cent and prepares them automatically, so that they only have to be attached in the tax return,” the site states. The Tax Report tool uses the 12 most common accounting methods, such as FIFO, LIFO. A comprehensive Dashboard offers charts with historical information and data all in one place.
Not sure what the tax laws are in your country? CoinTracking’s Tax Information Tab offers the most up-to-date information for more than 100 countries including tax rates and how to pay taxes. If you’re ready to get started, watch the video tutorials and get up to speed quickly.
Born out of a trader’s frustration with tracking digital currency losses and gains and preparing tax reports, Koinly’s vision is “to make it easier to track, analyze and generate reports from your cryptocurrency.” Traders can preview capital gains and taxes for free. The website offers to turn around crypto tax reports in under 20 minutes when users sign up for one of its modestly priced accounts.
Koinly also offers users the ability to easily connect with exchanges, wallets and blockchains. A comprehensive Resource Center offers a wealth of information, news and support for traders from the casual to the serious investor.
As the “most comprehensive cryptocurrency tax software on the market,” zenledger is another dynamic offering for traders who want to streamline the tax process. Data is easily imported into the site and free tax estimates are generated in minutes in the most widely used reporting formats. Users and choose to report taxes via TurboTax or enlist the help of professional CPAs.
zenledger’s FINCen Reporting feature alerts users who are out of compliant in this area and advises on which forms to complete to meet the current regulations.
Each of these powerful tools offer features and benefits that are designed to make managing your digital assets and tax reporting easier. Choose which service and plan is right for you and rest assured knowing your cryptocurrency tax reporting is in good hands.