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/biz/ - Business & Finance

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29545420 No.29545420 [Reply] [Original]

How do you guys do their own accounting /biz/? I'm currently using the manager io software but I'm having trouble with keeping track of crypto/stock holdings as inventory items considering that I can usually only assign each holding only under one control account (so I make both 'BTC held for under 12 months' and then another for 'BTC >12 months' but this fucks with inventory profit margin reports). I haven't even begun to put in most of my trades including crypto swaps, fees paid with crypto and interest earnings paid out in crypto.

Is there a better way or software to go about handling all this?

>> No.29545545

>>29545420
faggot

>> No.29545685

>>29545420
>Is there a better way or software to go about handling all this?
yes

>> No.29545897

Don't see this kind of discussion on here much lately.

How easy is it to set up an LLC for my trades? Is it something I should do? I only have about 10k invested.

>> No.29546134

>>29545897
if you're in the US it'll depend on the state but at 10k it probably isn't worth it.

>> No.29546457

>>29546134
I figured as much. I think with some additional investments, I'll enter 6 figure hell this bull run and do it then.

>> No.29546719
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29546719

>>29545420
Lots of sticky notes.
Export Capital loss logs playing EVE Online and ISK currency calculated to USD based on PLEX cost at time of ship insurance payout when ship is destroyed. I lose so many ships.
Guess a few numbers with Crypto that look alright. Then basically done.

>> No.29546839

>>29545897
If you stand to earn a lot through trading in the upcoming months, I'd say it is worth it on the basis of the stuff you can deduct from your tax. Paying for new PC and monitor equipment, the rent for a single work room (I think in America the room has to not be the same room you sleep in?), electricity, subscriptions like tradingview etc - you can take all these off your tax as a sole proprietorship/trader business structure.

>> No.29547128

>>29546839
I think I will earn a lot in the next 6-7 months and then long term after a market crash. I think the investments that I have made, and the investments I am going to make, are going to net me quite a bit of money this cycle.