Future crypto market needs accounting environment to avoid tax problems

Those who invest in the future market of crypto assets, as well as investors in the future market of shares, decide to take high risks of losses in order to achieve large profits. However, in all cases, it is necessary to keep up with the commitments and tax obligations in order not to compromise the gains. Luis Fernando Cabral, accountant specialist in investment accounting, Contador do Trader, notes that the market of speculation does not exempt the investor from complying with tax obligations.

“The future market in cryptocurrencies offers great opportunities, but also requires attention to taxation. Understanding how to correctly declare the profits of these operations is essential to avoid problems with the IRS”, explains the accountant. According to him, investors who buy and sell futures contracts will at some point need to measure, register, file, generate tax, that is, calculate and pay the tax and, finally declare to the IRS (RF). “This accounting environment is very important for operations to be up to date with tax authorities.”

Much like asset trading on the Stock Exchange, the future crypto market is a segment in which the digital asset is bought or sold at a set price for a future date.“Investors can both profit if the price is correct and have a loss”, says the accountant. In this sense, current accounting contributes even to the correct calculation of the average purchase prices of assets, important to ascertain results. “The investor cannot let the lack of knowledge about taxes compromise their earnings”, he says.

In addition to accounting advice, the investor of the future market of cryptoassets can seek expert advice in order to analyze the market and make decisions.Even because cryptoasset futures contracts can be used for the investor to protect himself from adverse price movements or even speculation in order to profit from market fluctuations.“There are modalities and ways of working, but they all need tax and accounting security.”