Hello!! I just began my crypto journey in Japan and have started to make a significant profit! My question is if it’s okay for me to withdraw the entirety of my profits to my account (understanding that it’s beyond 200,000 JPY and that I’ll have to pay taxes on it). Basically what I’m curious about is how much I should store/save percentage wise to be sure that I can cover the taxes
0 Up to 1,950,000 yen 5% Over 1,950,000 yen Up to 3,300,000 yen 10% Over 3,300,000 yen Up to 6,950,000 yen 20% Over 6,950,000 yen Up to 9,000,000 yen 23% Over 9,000,000 yen Up to 18,000,000 yen 33% Over 18,000,000 yen Up to 40,000,000 yen 40% Over 40,000,000 yen --- 45% Add up all your income from crypto, employment, stocks and everything else. And then find where you land on the Japanese tax bracket. Good Luck Mayowa Sensei!
Thanks YonderPreneur
Hello!! I just began my crypto journey in Japan and have started to make a significant profit! My question is if it’s okay for me to withdraw the entirety of my profits to my account (understanding that it’s beyond 200,000 JPY and that I’ll have to pay taxes on it). Basically what I’m curious about is how much I should store/save percentage wise to be sure that I can cover the taxes
My inclination tells me to just save 55% just in case but I’m curious as to your opinion
0 Up to 1,950,000 yen 5%
Over 1,950,000 yen Up to 3,300,000 yen 10%
Over 3,300,000 yen Up to 6,950,000 yen 20%
Over 6,950,000 yen Up to 9,000,000 yen 23%
Over 9,000,000 yen Up to 18,000,000 yen 33%
Over 18,000,000 yen Up to 40,000,000 yen 40%
Over 40,000,000 yen --- 45%
Add up all your income from crypto, employment, stocks and everything else. And then find where you land on the Japanese tax bracket. Good Luck Mayowa Sensei!
@@YonderPreneur wowwwwww wait thank you SO SO much!!!!! I really appreciate you!!!!!!!!!!