I have been thinking a lot lately about what is stopping me from regularly spending sats and one of the problems I find that adds friction is dealing with the tax implications with regards to capital gains/losses.
I plan an adding a nice UI around Nifty's bookkeeper plugin to Clams which will help with exporting CLN data, but then we also need a good service for turning that data in to proper tax documents.
I have been using Koinly for taxes up until now (and bookkeeper can export to Koinly format), but they support altcoins, the UI is kinda a pain to work with and it is not clear how to account for Lightning correctly.
Does anyone know of any Bitcoin only tax tools/UI's that already exist?
If there is not already a great tool out there, I would be up for teaming up with any accountants on here to create a browser app that you can dump your onchain and offchain transaction data into and it will spit out the correct tax form for your jurisdiction.
I am thinking the initial feature set could be:
- Bitcoin only
- Client side app only. No logging or server code so it is completely private
- Open source. Anyone can audit or run locally if they would like
- Upload data from your node manually (with instructions on what cli commands to run on each node implementation). Future versions could allow for connecting to a node directly using Lnmessage or Lightning Node Connect
If there are any accountants on here that have the required expertise, hit me up!