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General Discussion / Is running Gunbot worth it when you take taxes into consideration?
« on: March 01, 2018, 06:06:19 PM »
I've been running Gunbot for about 2 months and now that tax day for last year is coming up I'm starting to wonder if bot trading is going to be worth it over the next year. Gunbot has been making trades during this bearish/sideways market but I'm averaging 1% profit and there's a bunch of averaging down going on. Considering the volatility of the market and the fact that each and every one of these trades is a taxable event, I can't help but think that taxes are going eat up a large percentage of my profits. I'm wondering if the added tax complication is going to end up being worth it over the next year.
I'm seriously considering throwing in the towel and selling my license but I'd really love to hear opinions from anyone that's been through the US tax filing process first. Was it worth it? Did taxes eat up all of your profits? Any tips for minimizing tax burden and maximizing profits?
I'm seriously considering throwing in the towel and selling my license but I'd really love to hear opinions from anyone that's been through the US tax filing process first. Was it worth it? Did taxes eat up all of your profits? Any tips for minimizing tax burden and maximizing profits?