Using Binance Tax Make Your Tax Season Easier

Using Binance Tax: Make Your Tax Season Easier

For many cryptocurrency users, filing taxes can be a confusing, tedious and time-consuming process.

The new Binance Tax helps users understand their cryptocurrency taxes on up to 100,000 Binance transactions — at no additional cost.

Binance Tax is currently only available for users in Canada and France.

Binance Tax, your right-hand man during tax season, was designed with the volume and complexity of Web3 transactions in mind.

Go to Binance’s Official Website

For many people, tax season is the most dreaded time of the year — especially cryptocurrency users.

Using the traditional way of searching a spreadsheet and calculating all the transactions, gains and losses for the past year can be laborious.

For day traders, who typically process thousands of trades a year, this means extended hours and pressure to make sure they file accurate documents by the tax deadline.

If you’re struggling to get the hang of cryptocurrency taxation, or want to speed up the process, be sure to check out the newly launched cryptocurrency tax calculator, Binance Tax.

With one click, you can instantly import your Binance transactions into the calculator and get a simple and comprehensive estimate of your tax liability based on your jurisdiction.

Binance Tax is still in early release, so its algorithm doesn’t yet cover all transaction types in the large ecosystem.

Binance users should adjust accordingly in their final tax reports.

Go to Binance’s Official Website

Why use Binance Tax?

Rules around cryptocurrency taxation are constantly evolving around the world.

Binance understands that many of the users, including seasoned traders, experience tax filing difficulties and time-consuming issues.

Binance Tax helps you stay up to date with your cryptocurrency-related tax obligations and offers many tangible benefits.

Free to use
While other platforms may charge high fees based on the number of transactions you report, Binance offers users free access to its advanced tax tools. The system supports up to 100,000 reportable transactions, accommodating even the most frequent users in the Binance ecosystem.
Report accurately
Binance Tax helps you file your taxes by providing detailed information about your transactions in the ecosystem, including but not limited to: spot transactions, crypto asset donations, and blockchain fork rewards. Note that, as mentioned earlier, some transaction types are still not included in Binance Tax.
Save time
View your Binance transactions in one go at Binance instead of checking each transaction manually. Binance users can spend less time worrying about their tax payments with Binance Tax and use it to explore the endless opportunities of Web3.

Currently only available for users in Canada and France

Currently, only Binance users in Canada and France can use Binance Tax.

Users who live elsewhere can rest assured that Binance is working hard to support more regions and add support for more of your favorite networks and wallets beyond Binance.

Go to Binance’s Official Website