Last Updated: 25 November 2022
Bitcoin Champion is a crypto trading robot that allows you to make a lot of money in a short period of time and in a very simple way, because the crypto bot does all the work for you – from analyzing the market to placing individual trades. The profits that some users generate via Bitcoin Champion are gigantic, according to the testimonials. Some earn several 100 euros a day and some even several 1000 euros.
It would be nice if you didn’t have to pay anything to the tax office from these profits, but, because income from crypto trading is considered income, you have to declare it on your annual tax return.
How can you profit from Bitcoin Champion?
Step 1: Click on the link to go to the official website of Bitcoin Champion.
Step 2: Fill out the form to get a FREE license to trade.
Step 3: Follow the instructions on the platform to profit from bitcoin fast!
Which tax category do profits from crypto trading fall under?
Surely you will be interested to know where you have to list your profits from crypto trading in your tax return. According to paragraph 23 of the Income Tax Act, you declare your profits in the Schedule SO, because these are considered private sales transactions, such as sales via a platform such as eBay or the private sale of precious metals. From a tax point of view, trading in cryptocurrencies is completely different from trading in shares and no final withholding tax is due.
Reduce your tax burden by offsetting your losses
Although a trading bot like Bitcoin Champion generates mostly profits, there are occasional trades where you lose money, which in itself is not bad because you generate higher profits than losses with the bot, so you stay in the black. Besides, losses are actually a good thing, because you can deduct your losses from your profits and reduce your tax burden this way.
You are also allowed to deduct costs for your transactions from your profits. This way you minimize your losses because you pay less tax. Otherwise, you would have to bear the full tax burden and pay this money to your tax office.
As an entrepreneur, you can claim your business expenses on your tax return
You have certainly chosen the Bitcoin Champion trading robot for a crucial reason: you want to work independently and not sell your time for money, but make your money work for you and invest it. A wise decision, because it’s not easier for you to earn money on your own, because the bot does almost all the work for you. You are off the hamster wheel and can even become financially free in a short time.
You are your own master and an entrepreneur. Therefore, you can partially or even fully deduct costs and expenses related to your business from your tax burden. For example, your electricity costs, purchase costs of computer, laptop and smartphone and many other financial things. Therefore, it is strongly recommended that as soon as you have made your first profits, you consult a tax advisor to help you save on taxes.