Not everyone is going to need a cold wallet - but Trezor is a pretty decent choice if you're looking for a bit more security as your portfolio grows! Questions or comments, hit us up below 🍻 Ste & Cian
Great info. I have a Trezor 1 but haven't used it yet but it's all set up with pin and phrases and all that. Your info on transferring my BTC from Coinbase to my Trezor is so fast I can't even keep up, so I had to keep pausing it. is there any way you guys can list the steps instead of powering through it so fast? Like a manual script or something? Many of the terms you use are new to me....I don't know what they mean until I spend time figuring out what you just said.
Unrelated to crypto guys.. would you consider doing a video regarding how online stores based in Ireland and looking to sell into the UK and EU, apply taxes?
Heya Mícheál - that could be an interesting one, and I imagine applicable to a number of our viewers. What are you selling, out of interest? We don't have direct experience with it ourselves, but definitely one we'd consider covering! - Ste
@@TheLearningsReport Hi guys. I am just starting to sell online. We make higher end items, i.e. home soft furnishings and bedframes at 170 EUR to 1500 EUR per item. I imagine it would be of use for most products, with alcohol being an outlier due to different excise rules.
Question about filing dividend payment. Firstly do you pay dividend tax within the same tax year so if you receive a dividend payment in June 2021 you pay before December 15th? Secondly do you seriously have to fill out a full form 12 when you only received about €2 in dividends in total?
Hi John - yes, but my understanding of how it works is that each fee for acquisition and disposal is added to your 'cost basis' for whatever asset you bought/sold. So if you bought something for $100 (with a $1 fee), your cost basis would be $101 for tax purposes. Then lets say you sold the asset when it was worth $200 (another $1 fee incurred), your cost basis would be $102 ($100 purchase price plus $1 fee for buying/selling). Tax without fees = 33% of $100 = $33 Tax with fees = 33% of $98 = $32.34 Simplified example, but the implication is that including the fees reduces your tax bill. The one part of this that I'm not sure about though, is can you just take all your fees total, and just deduct them in bulk against your tax bill. I'm not sure if this would be allowed, given that the transaction fee is tied to a specific asset, and not your 'portfolio'. Some brokers calculate all this automatically (and Koinly do it for crypto taxes) so I'd recommend just using linking Coinbase to Koinly as they'll take the fees into account. koinly.io/?via=7C9CF056 Ste
What's the story with EU banning cold wallets, apparently it will be hard to move from exchanges to cold wallets and vice versa with the new regulations
Hey Kevin, Thanks for watching. Essentally any wallet interacting with an exchange will be required to reveal their full identify according to legislation that was just passed in the European Parliament. It will basically make it more difficult and probably more costly to move cryptos from these wallets. There's a pretty good article that goes through it here: cryptoslate.com/bitcoin-drops-to-45k-as-europe-votes-to-ban-cold-wallets-in-attack-on-decentralization/ - Cian
Not everyone is going to need a cold wallet - but Trezor is a pretty decent choice if you're looking for a bit more security as your portfolio grows! Questions or comments, hit us up below 🍻 Ste & Cian
@@notarehersal Hey Micheál - a little confused what you're referencing here, perhaps one of our other videos?
I'm unable to find my 16 digit trezor address...where do I find this?
you guys need to come back one of my favourite channels
really appreciate the content lads. Great stuff 👏
Cheers Ciarán. Nice one for the comment and glad you found it useful!
- Ste
what is the correct method to close the trezor wallet when you are ready to close the application?
Love to see a vide on BIK for Compeny cars and the electric company cars 😁
Interesting - added to the list!
Glad I have found you, Guys👍super informative and straightforward explanation of all things investment 👍
Keep up the great work👍
Thanks a million, Victoria! Glad you liked the video. - Ste
Great stuff Lads anouther brill video 😎
Cheers!
Miss the videos they were helpful
Next video about credit cards plz
Great info. I have a Trezor 1 but haven't used it yet but it's all set up with pin and phrases and all that. Your info on transferring my BTC from Coinbase to my Trezor is so fast I can't even keep up, so I had to keep pausing it. is there any way you guys can list the steps instead of powering through it so fast? Like a manual script or something? Many of the terms you use are new to me....I don't know what they mean until I spend time figuring out what you just said.
Unrelated to crypto guys.. would you consider doing a video regarding how online stores based in Ireland and looking to sell into the UK and EU, apply taxes?
Heya Mícheál - that could be an interesting one, and I imagine applicable to a number of our viewers. What are you selling, out of interest? We don't have direct experience with it ourselves, but definitely one we'd consider covering!
- Ste
@@TheLearningsReport Hi guys. I am just starting to sell online. We make higher end items, i.e. home soft furnishings and bedframes at 170 EUR to 1500 EUR per item. I imagine it would be of use for most products, with alcohol being an outlier due to different excise rules.
@@TheLearningsReport Apologies, I'll delete my other comment. See below.
Question about filing dividend payment. Firstly do you pay dividend tax within the same tax year so if you receive a dividend payment in June 2021 you pay before December 15th? Secondly do you seriously have to fill out a full form 12 when you only received about €2 in dividends in total?
My problem is ..how do I find my "address"... to move crypto from uphold to trezor ...it want to delivery address...where do I find this?
Hey, I enjoy watching your videos! Are you in audea btw?
Thank you! What is audea? 😅
I have one and I recommend for sure
Nice one, Humberto. Thanks for watching!
- Cian
Are my coinbase fees paid tax deductible in Ireland or are they taxed in CGT?
Hi John - yes, but my understanding of how it works is that each fee for acquisition and disposal is added to your 'cost basis' for whatever asset you bought/sold.
So if you bought something for $100 (with a $1 fee), your cost basis would be $101 for tax purposes. Then lets say you sold the asset when it was worth $200 (another $1 fee incurred), your cost basis would be $102 ($100 purchase price plus $1 fee for buying/selling).
Tax without fees = 33% of $100 = $33
Tax with fees = 33% of $98 = $32.34
Simplified example, but the implication is that including the fees reduces your tax bill.
The one part of this that I'm not sure about though, is can you just take all your fees total, and just deduct them in bulk against your tax bill. I'm not sure if this would be allowed, given that the transaction fee is tied to a specific asset, and not your 'portfolio'.
Some brokers calculate all this automatically (and Koinly do it for crypto taxes) so I'd recommend just using linking Coinbase to Koinly as they'll take the fees into account.
koinly.io/?via=7C9CF056
Ste
What's the story with EU banning cold wallets, apparently it will be hard to move from exchanges to cold wallets and vice versa with the new regulations
Hey Kevin,
Thanks for watching.
Essentally any wallet interacting with an exchange will be required to reveal their full identify according to legislation that was just passed in the European Parliament.
It will basically make it more difficult and probably more costly to move cryptos from these wallets.
There's a pretty good article that goes through it here: cryptoslate.com/bitcoin-drops-to-45k-as-europe-votes-to-ban-cold-wallets-in-attack-on-decentralization/
- Cian
where are you guys?