Hi everyone,
I’m currently holding a work permit in Japan and recently applied for permanent residency. My company takes care of my taxes through payroll.
Six months ago, I opened a SaxoBank trading account and started doing spot forex trading with USDJPY pairs. After an initial period of drawdown, I managed to pull back and secure some modest profits of approximately ¥15,000.
While the sum is small, I’m unsure how to handle the tax implications of this income. Additionally, I’m curious if I can claim deductions for trading-related expenses, such as internet and mobile bills, against the gains.
Since the profit margin is low, I’m hesitant to hire a tax consultant out of concern that their fees might outweigh the gains themselves. Therefore, I would greatly appreciate any advice, links, or pointers on navigating this situation while filing my tax returns.
by ajoobaa