“At TaxBit, we consider that one of many best monetary improvements and disruptions of the final century, cryptocurrency, shouldn’t be weighed down by the complexities of tax and accounting,” mentioned Austin Woodward, TaxBit CEO. “The previous 12-months at TaxBit have been monumental, as our merchandise are eradicating a few of the largest roadblocks of this rising asset class. With the help of Paradigm, Tiger World, and lots of different superb traders, we’re excited to proceed to scale world-class tax and accounting merchandise in order that cryptocurrency can proceed to thrive amongst enterprises, customers, and governments.”
Launched in 2018, TaxBit’s platform automates all elements of cryptocurrency tax compliance for enterprises, customers, and governments. TaxBit’s platform has produced and helped clients file over a million units of tax types throughout the market verticals it serves. TaxBit Enterprise and TaxBit Consumer rework the cumbersome expertise of cryptocurrency tax reporting in a method that not solely ensures compliance with tax legislation but in addition helps customers actively tax optimize their investments and use of cryptocurrency.
Tax compliance is not the one focus of the corporate. Working hand-in-hand with a number of of the main cryptocurrency platforms, TaxBit can also be creating the business’s first Huge 4 & SEC grade accounting ERP answer that can publicly launch later this 12 months, together with plans for worldwide growth in 2021.
“The rise of cryptocurrency poses new tax and accounting challenges for people, companies, and governments alike. We consider TaxBit has constructed the best-in-class answer and are thrilled to be partnering with Austin Woodward and the remainder of the TaxBit staff,” mentioned Matt Huang, Co-Founder Paradigm.
TaxBit was based by CPAs, tax attorneys, and software program builders to be able to allow widespread cryptocurrency adoption by automating the regulatory hurdle of tax and accounting compliance. TaxBit is situated in Salt Lake Metropolis, UT. To study extra go to: www.taxbit.com, Twitter, LinkedIn.
Michelle O’Connor, VP Advertising and marketing, TaxBit