Lately, I've been feeling a bit anxious about taxes and reporting. Honestly, I'm not afraid of paying taxes; I'm just worried that by the end of the year, flipping through transaction records will make my eyes pop out... My current simple method is: every time I do a major rebalancing, cross-chain transfer, or move in and out of DeFi, I take a screenshot and drop the transaction hash into a spreadsheet, with a note saying "Why I did this," otherwise in a couple of months I’ll forget what I was thinking at the time. Friends laugh at me for keeping accounts like an accountant, but when it comes to reconciliation, it can be a lifesaver. By the way, I want to complain that Layer 2s are always comparing TPS, fees, and subsidies; cross-chain transfers need to leave traces too, or else mixing on-chain and off-chain makes it hard to keep track. Anyway, I stick to one rule: only do liquidity that I understand, and the records must be understandable too. When I make a profit, I go treat myself to a coffee.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin