If you are looking for a new crypto trading platform in Canada, I like using VirgoCX! Get $30 with VirgoCX if you deposit $100: virgocx.ca/page#/register?code=wq8vMykU
It was helpful, thank you so much. If possible, I want to request if you can please make a video how to file taxes claiming capital gain or losses from stock and which tax slips to use for that. We will really appreciate. Thanks
One question. You write down your crypto inventory at NRV to lower your taxes this year. what happens when crypto price skyrockets next year? Are we allowed to write up your inventory and what are the tax implications?
Great overview - What tool do you suggestion people use when calculating their gains / losses? I'm looking at CoinLeder and Zenledger and curious if you have any advice
I missed the deadline to sell my crypto and stocks. I sold after the market closed, instead I sold on Dec 31st, can I file these loses on my 2023 taxes?
@@sds3743 what I was trying to imply was that most people who have 100k to throw on crypto have the knowledge and skills to google how to harvest tax breaks from their investment loses.
Gabrielle, I got it lol. You're amazing. You've done a few great videos on taxes and crypto. A topic I wonder about sometimes is sole proprietorship as a stock/crypto trader in Canada, aka "sole trader". I've heard it's a good way to manage costs associated with trading, but if you Google "sole trader canada" then you just get generic sole proprietor results. Just an idea maybe for a future video? If you decide to make a video on this topic then you would have the Google result for "sole trader canada" on lockdown lol. Thanks again for everything you do
Thanks for a great video. Can we take a capital loss if we still have cryptos on exchange like Celcius or Voyager and they have frozen all activities and won't allow you to withdraw or trade them?
@Emily Jordan If you're holding crypto, you should already be aware that you will only win/profit if the price of the cryptocurrency rises. On the other hand, you might want to consult with a professional to diversify your holdings and increase your earnings.
I'd strongly recommend Mrs Flores Ben. She's considered a key Crypto Strategist and a successful portfolio manager. She also has a Web presence so you can simply conduct a Google search to reach out to her.
Can i wash today without worrying that the irs will change the wash sale rule and retroactively apply the law (if it passes) to the beginning of the year?
Hi Gabrielle, if i invest my money into mining or trading and i get profit every week/month but i don't sell that crypto until the next tax season, how i get taxed from that? and also do i need to keep all the transaction records? thank you
I have been trying to contact you through your private email in this platform as I would like to have some consultation with you. Are you able to help or can you recommend someone else, please. Thanks. Keep up the excellent work!
Hi Skyfox, thanks for contacting us! We are currently at capacity but let me try to get back to you. Did you contact us via our website (www.balanceandwealth.com)?
*Bluedarttech* I hope you have good personal security, as some of these scammers would most likely resort to putting out a hit on you. I'm not joking. I hope you've taken this into consideration and have protection for yourself. I love what you do, and don't want any harm to come to you.
I thought this was de-centralized income and government can know what i have. Now i have to pay tax on this BS TOO What the f is De cent realized about this
If you are looking for a new crypto trading platform in Canada, I like using VirgoCX! Get $30 with VirgoCX if you deposit $100: virgocx.ca/page#/register?code=wq8vMykU
Gabrielle please give some motivation to study accounting subject
It was helpful, thank you so much.
If possible, I want to request if you can please make a video how to file taxes claiming capital gain or losses from stock and which tax slips to use for that.
We will really appreciate.
Thanks
One question. You write down your crypto inventory at NRV to lower your taxes this year. what happens when crypto price skyrockets next year? Are we allowed to write up your inventory and what are the tax implications?
Great overview - What tool do you suggestion people use when calculating their gains / losses? I'm looking at CoinLeder and Zenledger and curious if you have any advice
sis, thanks a lot for such a valuable information. there is hardly any info regrading crypto losses
If I don’t cash the crypto, do I pay tax in Canada ?
All i need to know is WHAT form to fill out. As much as I read and look, none of it seems to apply...but it's all blurrring together at this point
I missed the deadline to sell my crypto and stocks. I sold after the market closed, instead I sold on Dec 31st, can I file these loses on my 2023 taxes?
Hi,
I have lost 100k in Tera Luna this year.Can I carry forward the loss 💯 percent and in future when I have capital gain just offset it later
How do you have 100k USD loss in crypto……
@@hz1056 lots of people do. I lost 20k on crypto, but it was all profit and not a big deal.
@@sds3743 what I was trying to imply was that most people who have 100k to throw on crypto have the knowledge and skills to google how to harvest tax breaks from their investment loses.
report it as loss. You could have a huge taxes relief.
Gabrielle, I got it lol. You're amazing. You've done a few great videos on taxes and crypto. A topic I wonder about sometimes is sole proprietorship as a stock/crypto trader in Canada, aka "sole trader". I've heard it's a good way to manage costs associated with trading, but if you Google "sole trader canada" then you just get generic sole proprietor results. Just an idea maybe for a future video? If you decide to make a video on this topic then you would have the Google result for "sole trader canada" on lockdown lol. Thanks again for everything you do
Its a great explanation. Thank you.
Thanks for a great video. Can we take a capital loss if we still have cryptos on exchange like Celcius or Voyager and they have frozen all activities and won't allow you to withdraw or trade them?
The high rate of living presently a new dimension of earnings, despite the drop in Bitcoin price will not stop me from investing.
What could be the most secure and efficient way to invest in cryptocurrencies? I've done some research but am still unsure; advise please!
@Emily Jordan
If you're holding crypto, you should already be aware that you will only win/profit if the price of the cryptocurrency rises. On the other hand, you might want to consult with a professional to diversify your holdings and increase your earnings.
Any recommendations for a reliable investment platform?
The safest online trading platforms today are those that are recommended by real, active traders because there are so many phony ones.
I'd strongly recommend Mrs Flores Ben. She's considered a key Crypto Strategist and a successful portfolio manager. She also has a Web presence so you can simply conduct a Google search to reach out to her.
3:20 how come google I can offset up to 3000 in income though if I lost like 5000 in crypto?
Can i wash today without worrying that the irs will change the wash sale rule and retroactively apply the law (if it passes) to the beginning of the year?
would you recommend any crypto trade tracker for tax calculations for canada , koinly or coinstats
Hi Gabrielle,
I'm watching your videos and I wonder if you had to do your masters degree to become tax manager.
Nicely done!
Thanks!
Hi Gabrielle, if i invest my money into mining or trading and i get profit every week/month but i don't sell that crypto until the next tax season, how i get taxed from that? and also do i need to keep all the transaction records? thank you
Hi Bon, I actually have a video on mining tax that you can check out here ua-cam.com/video/PrceZ3MpNEA/v-deo.html
Thank you
Thanks!! Got it.
Clear and concise explanation.
thanks William!
Got it 👍. You explained quite well.
yay! thanks Jewel 😊
Thank you! Very helpful
You're welcome 😀
Is this video based on Canada or USA tax law?
canada
Can you help me??
So day trading is a crypto business, right and I can offset trading loss against my employment income.
Way to complicated explanation, Im dumb that’s y I UA-cam it
Got it thanks
Nice, you watched until the end!
Break it down
I have been trying to contact you through your private email in this platform as I would like to have some consultation with you. Are you able to help or can you recommend someone else, please. Thanks. Keep up the excellent work!
Hi Skyfox, thanks for contacting us! We are currently at capacity but let me try to get back to you. Did you contact us via our website (www.balanceandwealth.com)?
Not that clear honestly
I got this ..
nice!! 👍
*Bluedarttech* I hope you have good personal security, as some of these scammers would most likely resort to putting out a hit on you. I'm not joking. I hope you've taken this into consideration and have protection for yourself. I love what you do, and don't want any harm to come to you.
Talk too fast. Slow down so bewbie can understand
I thought this was de-centralized income and government can know what i have. Now i have to pay tax on this BS TOO
I thought this was de-centralized income and government can know what i have. Now i have to pay tax on this BS TOO
What the f is De cent realized about this