cryptotax

Made some good progress on the crypto accounting today, just ~3000 transactions left to review 😛 Got a first capital gains calculation going and it looks… expensive.

gm. Fulltime degen, building fun stuff onchain. 
Master of Disaster Frogworks, /ottodao bullfrog, ex @astaria

Luckily capital gains tax in Germany is flat 25% while income tax is progressive and can go as high as 45%

How do you guys tax received Degen tips? Is that income?

Hosts /the-library — Moderates /gen-art /deca /newmasters
— Designs graphics + UI / Crafts code + technology / Collects art / Loves books / Builds community

Thanks. But income valued in the moment you receive it and for any gains afterwards same rule applies (25% on gains within the first year, afterwards tax-free)?

Need to review this with my tax advisor. Generally airdrops are considered income but if you declare it as real tips it would be seen as tax free gifts.