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Lately, I've been a bit anxious about taxes and reporting. Honestly, I'm not afraid of paying taxes; I'm afraid that by the end of the year, I’ll flip through the bills and want to smash my keyboard... I’m treating it like therapy for my obsessive-compulsive disorder: every time I change positions or do something on-chain, I casually export the exchange transaction records, put the on-chain transaction hashes and notes into the same table, and write it in plain language based on “time-wallet-purpose,” otherwise in a couple of months I won’t even understand what I was doing at the time.
By the way, splitting wallets into different categories really saves trouble—separating living expenses, long-term holdings, and casual trading—at least when it comes to reporting, I won’t turn every transaction into a big mess.
Recently, I saw someone comparing RWA, US bond yields, and on-chain yield products all together. I also get tempted, but right now I care more about “where exactly is this yield coming from and whether the records match,” otherwise the yield isn’t much, but the cost of explaining it at the end of the year would be through the roof.
The habit of withdrawing authorization after interactions also unexpectedly helps: fewer mysterious approval records, making the transaction history much cleaner.