CoinLedger Deals:
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Tax season is almost upon us, and if you’ve active in crypto, it’s imperative you get everything right so you don’t face any unwelcome surprises a few months from now. In this video I show you how to use CoinLedger, a website that helps you with filing all of your crypto across multiple wallets and exchanges!
0:00 Intro
1:19 Getting Started
3:15 Importing Your Wallets
4:37 Reviewing Transactions
6:15 Special Deals
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Welcome to billboard crypto my name is Ben today we're going to be talking About your favorite thing and my Favorite thing taxes yay they're fun in All cheers as though something you have To pay attention to there's not anything Out there that can probably get you in More trouble in the world of crypto uh Than doing your taxes wrong or really Not doing them at all as long as you Make your best effort uh you know Chances are you're not going to get in Trouble but you got to be really careful When you're doing your taxes in crypto Because they're very complicated I was Working with a lot of crypto tax Professionals out there and the fact is There just aren't really that many Crypto tax professionals there's tax Professionals that can help you with Crypto and then there's some crypto guys You know a little bit about taxes but Really doing both is very hard so the Way most people get around this is by Using a third-party software uh so today We're gonna be taking a look at coin Ledger this video is sponsored by coin Ledger so shout out to them for uh Sponsoring the channel and uh we're Going to take a look at what people are Dumping the Turbo Tax for crypto and a Lot of what's going on here with coin Ledger is going to be automated so You're going to be able to plug up your
Wallets you're going to be able to see Your taxes you're gonna be able to see Your gains see your losses calculate Your taxes in Fiat and much much more It's a really easy simple process and The best part is here as you can see We're on coin ledger.io is it's Completely free well most of the stuff Once you actually download your tax Reports that's the only time you're Going to pay and you're going to see the Amount of money that's going to be and For a lot of you guys you see here it's Not just cryptocurrency but also nfts For nfts and D5 it's very complicated to Do the taxes for uh it's gonna be Automated inside of coin Ledger as well And you may be thinking to yourself well I use this tiny little wallet could this Work well it works with over 500 Different wallets and exchanges and it's All done through API and automated they Make it really really simple for you and That's key now they said earlier they Call the TurboTax for crypto but TurboTax is actually an official partner Of coin Ledger and you can import Everything from coin Ledger over to TurboTax really really easy so you get Your crypto taxes done within minutes Everything being automated is really so Important Um you know within what you have to do With taxes so this year is coin
Ledger.io now you may have previously Known coin Ledger as cryptotrader.tax uh You see here right at the top they have Rebranded uh you guys can see more about The products here how it works the tax Reports the software uh what it Integrates with uh if you wanted to Learn more about crypto taxes because You know doing your taxes isn't enough You want to learn every single thing About it because you're an extremely Boring person then here you go you can Do that here so here you can see they've Got a sample report you can get started For free or watch how it works we're Actually going to dig into the actual App itself Um just a little bit more here you see You know 300 000 crypto tax investors uh Have used it including this guy with his Great beard I mean can you really go Wrong with anything that this guy trusts And look at this girl she's so happy to Have done her crypto taxes so here's a Little bit how it works you import your Transactions preview report generate Your reports and we're going to spend Too much time on this because we're Gonna actually you guys can see here a Lot of the things that they work with But we're going to move straight into The app so here we go okay so here we're On the import page this isn't the app This is once you sign up once you
Actually have an account this is where You'll go you can see over here um now This is a sample demo account I'm gonna Be showing you guys so here they've got Coinbase coinbase Pro and metamask They've got plenty more Integrations Than that come down here and click add Account uh you guys will see you can add All kinds of different things if you Want to find out where all your money Went on Celsius just click Celsius and There boom it adds right over here to The left hand side so these are going to Be all of your transactions here and you Can see you can sort of been ascending Or descending if you want to go in order By date one way or the other you guys See here on September 28th 2022 this Account bought 1.437 Solana it was worth 48 dollars I think right now it's probably worth Seven I'm just kidding it's probably Worth a little bit more than that Um but anyways the point is that was Right before everything started falling Apart for FTX and Solana so Um maybe not a good time to buy Solana So this guy you know who is making all These transactions he was a big salon And ethereum fan poor guy poor guy uh But you guys can see they've got Auto Import here you can add them via API if You know how to do that now if you want To download the history from an exchange
And upload it that way instead of Connecting through API you can do it Right here through upload file Um you check out your import history Over here when you're ready to move on When you've got all your transactions in You just click review and this over here As you can see this one there was Something wrong with this transaction so You see it's gonna have a little Caution Arrow missing cost basis click to review So you'll click this and so if there's a Transaction that's questionable you'll Be able to go here and check out what The issue is and you can see what the Impact against your taxes is going to be So that's to review let's see we're just Gonna we're gonna ignore this for now Even though I wouldn't want to do that In real life and uh there we go click All And then you scroll down here and all The way to the bottom of the page so you See here it's got all of your Transactions you've got the one reviewed Here Um here you can all if you want to not Click here you can also click here and It'll show you what this means you can Reduce your gains by fixing the missing Basis so it shows you why you really Want to do that once you've got all your Transactions in and you've reviewed all Your transactions you feel comfortable
With that you just click tax reports and Here a show we made eight dollars of Total income we lost 12.45 cents in Capital gains now obviously here uh it Shows upgrade to unlock upgrade to Unlock upgrade to unlock way I said this Is a demo account so everything's not Unlocked so if you want to figure all This out and download these tax uh Reports you would just upgrade here this Is what I was talking about you would Pay for earlier and like I said earlier Once you have these tax reports you guys Can see over here we got the IRS form Tax value software and CSV reports you Can either download these and import Them directly to Turbo Tax or if you Want to add a tax professional Um over here you could come up here and Put in your tax professional's name and His email address or her email address And they will be connected right into Your coin Ledger account makes Everything very easy very seamless all Right now through coin Ledger we've got A couple deals for you guys number one If you want to get 10 off of coin Ledger Of your tax reports all you gotta do is Just use a promo code bitboy and you're Going to save 10 in addition because we Partner with coin Ledger they're gonna Be giving away one free 300 tax report All you gotta do is click the link Down Below in the description and it'll take
You to the page where you can sign up For the giveaway and you get a free tax Report what can go wrong so there you go There's coin Ledger hopefully that was Very simple for you guys you understand How to use it we're getting towards uh Obviously tax season coming up so don't Forget to sign up you guys can sign up Down below with links that's all I got Be blessed way out [Music] Thank you [Music]
