What do you do to make your tax reporting process as painless as possible?

It’s the season that everyone dreads: tax reporting. Not that you have made a lot of profits anyway, and not as if the capital gains taxes in your country are fair. I read that they can amount to a hefty 30% in some nations. But it’s something painful that we all have to go through every year.

I would just like to know about everyone’s tax reporting processes so that I may pick up a useful tip or two to reduce stress. I use the CoinMarketCap platform even if I have to manually key in all transactions - because I’m just too cheap to pay for a software. However, do you think it’s worth the money to pay for the use of CoinTracking or Koinly? I guess the advantage of using a paid platform is that if it is linked to the crypto exchange you use, you can just generate all the transaction data you need and upload the CSV file to CoinTracking or Koinly.

But I read that some people still keep an Excel spreadsheet as a backup. Is this because it’s easy to make mistakes even though you use these paid tax accounting softwares? Or is it because a part of you just needs the added reassurance?

What do you do to make your tax reporting process as painless as possible?

originally posted on r/cryptocurrency