myProfit is a tax calculation and reporting platform for individual investors managing Brazilian and international portfolios. It automates income tax calculations, generates DARF payment slips for Brazilian assets, and simplifies reporting for dollar-denominated holdings and cryptocurrencies.
Funding
Funding not disclosed
Founders
Product
Problem
Individual investors managing Brazilian and international portfolios face complexity in calculating and reporting income tax liabilities. This process is often manual, time-consuming, and prone to errors, particularly when dealing with diverse asset classes and cross-border holdings.
Solution
myProfit offers a comprehensive tax calculation and reporting platform designed for individual investors. The system automates the monthly calculation of income tax for Brazilian investments, generating the necessary DARF payment slips. For international portfolios, it provides specialized support, integrating with major global brokerages to simplify tax reporting for dollar-denominated assets. The platform also facilitates annual tax declarations by producing personalized reports that can be directly imported into the federal tax authority's software. Beyond tax compliance, myProfit delivers detailed performance reports and real-time price alerts to aid investors in effective asset management.
Target Audience
The platform targets individual investors in Brazil who hold domestic and/or international assets, including stocks, fixed income, cryptocurrencies, and other financial instruments, and require assistance with tax compliance and portfolio performance tracking.
Features
- Automated monthly income tax calculation for Brazilian equity and fixed-income investments, including issuance of DARF payment slips.
- Direct integration with B3 for Brazilian variable income and Treasury Direct data.
- Support for international portfolio tax calculations, with integrations for major brokerages such as Avenue, Interactive Brokers, Charles Schwab, and Tastytrade.
- Specialized tax calculation and reporting for cryptocurrency holdings, supporting over 5000 cryptocurrencies and integrating with exchanges like Mercado Bitcoin and Foxbit.
- Generation of personalized annual income tax declaration reports for simplified submission to the Brazilian federal tax authority.
- Detailed performance reports in Excel and PDF formats, covering dividends, operations, and average cost basis.
- Real-time price alerts for portfolio assets.
- PDF import functionality for brokerage notes to streamline data ingestion.
- Support for various asset classes including stocks, FIIs, options, BDRs, ETFs, futures, fixed income, Treasury Direct, and cryptocurrencies.