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The US taxes crypto gains at 20-37% based on income brackets. Report all trades to the IRS, including short-term (under 1 year) and long-term gains.
The UK applies a 20% Capital Gains Tax (CGT) on profits over £6,000. Track every transaction, as HMRC audits are increasing.
Use tax software like Koinly or CoinTracker. These automate calculations for worldwide users, saving 10-15 hours annually.
Consult a tax expert for complex cases. Fees ($100-$300) ensure compliance with local laws.
Keep detailed records of buys, sells, and fees. Digital spreadsheets or apps like Blockpit help meet audit requirements.
Understand country-specific rules. Germany exempts gains under €600, while Canada taxes at 50% for long-term holds.
Monitor 2025 regulatory changes. New laws may raise rates or introduce reporting thresholds.
File taxes on time to avoid penalties. Late US filings incur 5% monthly fines up to 25%.
Taxes reduce net profits by 20-30%. Plan your strategy, setting aside 25% of gains.
Join r/CryptoTax on Reddit for tips. Stay updated to optimize your tax burden.