Tax Guide For Crypto & Bitcoin Businesses: Computing Inventory Costs - Technology
Introduction: Cryptocurrency-Trading Businesses in Canada Canadian cryptocurrency-trading businesses face unique challenges. The mostly unregulated market brings higher risk of fraud and cyber-crime. The volatile markets may bleed profits. And some cryptocurrency traders don't even realize that they're carrying on a business, misreporting their profits as capital gains. This article aims to educate cryptocurrency traders on a fundamental income-tax issue: calculating the costs of their cryptocurrency inventory for tax purposes. This article first discusses how Canada's tax system distinguishe...
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