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The current state of taxation on cryptocurrencies-
One of the biggest hurdles while trading in cryptocurrencies is the calculation of taxes also known as Crypto Tax of the investments and returns. Most people despise the idea of filing their regular taxes. The idea of filing taxes for cryptocurrencies is generally met with more frustration and annoyance.
Moreover, cryptocurrency tax rules vary with each country. Several countries have a severe lack of ground rules and regulations surrounding cryptocurrency taxation. Dealing with cryptocurrencies is undoubtedly much more difficult in such countries in comparison to those countries with set regulations. The general population’s confusion around cryptocurrencies is entirely understandable.
Despite this, people across the world are getting themselves involved with cryptocurrencies at varying degrees. People have come to realize that they can learn the fundamentals of this payment system and using a crypto tax calculator to file and report their taxes.
The need for a crypto tax calculator
A crypto tax calculator is an invaluable tool that automates and speeds up the process of calculating taxes and yields accurate results. Whether you are an enthusiastic amateur trader with a few bitcoins under your belt or you are a seasoned cryptocurrency day trader, the tools mentioned in this article are bound to help you.
Since the inception of cryptocurrencies in 2009 spearheaded by Bitcoin, a significant number of quality crypto tax calculators have been come up to make the crypto taxpayer’s job easier. While there are countless crypto tax calculators, we will mention a few of them that you can choose from to take care of your crypto taxes.
Concern over risks that come with cryptocurrencies-
Given the volatility and complexity of cryptocurrencies, people have become apprehensive, albeit curious about the value and role of cryptocurrencies in the digital age. While most people understand the fact that cryptocurrencies are secure, they realize that they are also prone to loss and theft. No central authority or external influence can control cryptocurrency transactions. It is possible to trace transactions but impossible to track the accounts back to their respective real-world identities.
The top crypto tax calculators-
Koinly is one of the most popular crypto tax calculators in recent times. It has its Headquarters in London. Owing to the sleek and intuitive UI, it is perfect for regular traders and amateur crypto enthusiasts alike.
Another point in Koinly’s favor is that a new user can start using it for free and pay when the final reports are to be generated. In addition to this, it officially supports the tax systems of over 100 countries, 33 exchanges, and six blockchains. It also has several notable features that include a portfolio tracker.
Koinly seems to have the edge over most crypto tax calculators as they develop their tax reports in partnership with audit consultants from KPMG. Hence, they are legally compliant. Their reports also support all the primary accounting methods, including the ACB (Average Cost Basis) and FIFO (First in First out) method.
CoinTracking analyzes your transactions and generates real-time reports on various things like profit and loss, the value of your Bitcoins, realized and unrealized gains, and reports for taxes.
Cointracking seems to be an all-in-one solution for your cryptocurrency taxation and portfolio tracking requirements.
It is also compatible with some third-party crypto tax calculators and software like TurboTax. Of course, this depends on the country out of which you are based.
Bitcoin.Tax is known as one of the oldest crypto tax calculators. As a result, it is a highly trusted crypto tax calculator among long-time crypto investors and crypto enthusiasts.
The downside to this crypto tax calculator is that it looks dated compared to its competitors like Koinly and Cointracking. Just like Cointracking, Bitcoin.Tax has also partnered with TurboTax to support the seamless importing of cryptocurrency tax data into mainstream income tax reports.Bitcoin.Tax seems to suit old-school accountants owing to their not so clean interface and the presence of a large amount of text.
It is likely to be the one for you if you are looking for a traditional crypto tax software.
BearTax is similar to Coinbase due to its simple UI and design language.
Their key selling points seem to be the diversity of features, options in pricing, and functionality.
Like all other crypto tax calculators mentioned, BearTax supports the important exchanges and cryptocurrencies. However, It should be said that BearTax could do very well with a few more intuitive features like a performance tracker.
Zenledger is another quality crypto tax calculator. Users can import cryptocurrency transactions and calculate their capital gains and crypto-related income.
The transaction history is imported, following which the tool generates all the crypto tax-related entities such as capital gains, income, donations, closing reports, and profit and loss statements.
As Blockchain technology continues to spread, we will witness the increase in the number of crypto tax calculators. However, a crypto trader must understand the fundamentals of cryptocurrencies to make the best use of crypto tax calculators. In order to take care of your crypto taxes seamlessly, you ought to spend some time searching for the crypto tax calculator that is right for you.
Be sure to do your research and choose the crypto tax calculator that you think would best suit you. To do that, it is crucial that you fully understand what you want from a crypto tax calculator.
Savitribai Khanolkar with husband Major General Vikram Khanolkar.Photo found on Google Images
IANSlife brings you the co-founder of YES MADAM, Mayank Arya who speaks of the benefits of at-home salon services.
We all prefer comfort over anything and everything. Nothing is more comfortable than getting everything under your own roof. One of the most amazing perks of subscribing to an at-home salon service provider is that you can watch your favourite TV show or OTT series while having your hair treated or nails done. Amidst, Covid-19 and working from home some of the beauty services can be taken simultaneously. Getting beauty services at your home keeps you relaxed and calm. During festivals when you are already busy the on-demand salon services can do wonders for your mind, body and soul.
Usually many customers have problems related to hygienic surroundings. Of course, they do not know if the place is properly sanitized or not. For such kinds of customers "At home Beauty services" is nothing but the most appropriate option. There is something about being in a familiar environment that makes you feel at total comfort instantly and allows you to enjoy the treatment in a much better way. Create your own bubble with the most appropriate hygienic conditions according to your requirements and take the at-home salon services.
The biggest and the major concern during the times of the Covid-19 pandemic. In the duration of time where the whole world is fighting a virus, we all need to be extra careful about exposure to any kind of infection. With at-home salon services, you do not have to expose yourself to dozens of people on your way but you can allow yourself to enjoy excellent services within the safety of your home. With vaccinated beauticians, it becomes much safer to get the treatments done. In at-home salon services, the beauticians wear a PPE kit that includes a mask, gloves, bodysuit, and a face shield. They utilize only monodose (single-use) products. Moreover, they also sanitize the area where the set-up is done to deliver the services.
Sometimes, even if you book an appointment, you have to travel a lot far and still the beautician keeps you waiting. The in-house beauty treatment services are much more flexible. It's all up to you, one can book the date and time whenever they need the service, and the beautician will be there at your doorstep. If it is a busy week or an impromptu decision, one can always rely on the on-demand salon services.
. The in-house beauty treatment services are much more flexible. | Photo by engin akyurt on Unsplash
The session with family and friends
Who doesn't love to gossip around and chill with friends and family while getting their manicure and pedicure done? There are so many nosy customers while you visit the salon that just kills your buzz. But a salon at home with your friends and family especially during the times of festivals provide you with the most relaxing and happy vibes.
With the up-gradation in technology, the on-demand salon services do not let you pile up the house chores. While you are working from home and want to get your house festive ready with services like pest control, sanitization, sofa cleaning, carpet cleaning, kitchen cleaning, bathroom cleaning at-home services like Yes Madam always keep you sorted.
(Article originally written by: N. Lothungbeni Humtsoe) (IANS/ MBI)
Keywords: salon, pandemic, safety, hygiene, family, friends, comfort
By Aishwarya Jain
Also, lowering down the crime level would act as a major factor towards a happy society. People who witness crimes, or come across evidence of a crime in their local area, can suffer anxiety and may feel demoralised or powerless. We should also teach them to stop judging people by materialistic things and accept everyone with all their flaws. Media plays an important role in making society happy because they have the power of reaching out to billions of people and helping them out through a solution-based approach.
As per Aishwarya Jain, the Founder of IM Happiness, a social community that works to increase awareness of mental well-being, "Every great leader always talks about building a happier society from Chanakya to J.R.D. Tata. As J.R.D Tata said, "I do not want India to be an economic superpower. I want India to be a happy country". Happiness makes good things happen. It actually promotes positive outcomes. It's high time corporates start taking importance of mental well-being like it's happening around the world. Last week, Nike became the latest company to close its offices for a week to give employees a mental health break. That's after LinkedIn, Bumble, and Hootsuite have all shut down their offices for a week this year to address mental health. I think the global revolution of happiness has started."
Our brains are literally hardwired to perform at their best not when they are negative or even neutral, but when they are positive. Yet in today's world, we ironically sacrifice happiness for success only to lower our brain's success rate . When we are happy -- when our mindset and mood are positive -- we are smarter, more motivated, and thus more successful. Happiness is the centre, and success revolves around it. IM Happiness is a community that believes happiness is a skill to be enhanced by training and practice. The team works day and night to help the sufferers get rid of their mental chaos and teach them the skill of being optimistic and happy in every situation, either favourable or adverse. They work on the aim of the United Nations Goals of promoting good health and well-being and have worked closely with the organisation. The team is utilizing the power of Science and Spirituality in achieving this aim.
IM Happiness is initiating a new campaign, 'Hello Happiness'. | Photo by Dylan Sauerwein on Unsplash
IM Happiness is initiating a new campaign, 'Hello Happiness'. The campaign unites 30+ celebrities from across the country to have a surprise conversation with selected people in India. Ranveer Brar, Daniel Weber, Masoom Minawala Mehta and Ash King are some of the celebrities who will be a part of this campaign. With this campaign, the community wants to help people deal with their emotions and to motivate them. The campaign is free of cost and the nominee just has to register, wherein the unique algorithm will connect the nominee with a celebrity or other mentors on a call according to their keywords.
The community is trying to bring a change but it is the society's accumulative effort to spread awareness and to make oneself happy. We should try to start small and it will eventually make a great difference because a better society allows us to lead a better life.
(Article originally published on IANS by N. Lothungbeni Humtsoe) (IANS/ MBI)
Keyowrds: Happiness, society, IM happiness, campaign, India, community