“At TaxBit, we imagine 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 International, and lots of different wonderful buyers, 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 facets of cryptocurrency tax compliance for enterprises, customers, and governments. TaxBit’s platform has produced and helped prospects file over a million units of tax types throughout the market verticals it serves. TaxBit Enterprise and TaxBit Consumer remodel 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 point of interest of the corporate. Working hand-in-hand with a number of of the main cryptocurrency platforms, TaxBit can be growing the trade’s first Large 4 & SEC grade accounting ERP answer that may publicly launch later this yr, together with plans for worldwide enlargement in 2021.
“The rise of cryptocurrency poses new tax and accounting challenges for people, companies, and governments alike. We imagine TaxBit has constructed the best-in-class answer and are thrilled to be partnering with Austin Woodward and the remainder of the TaxBit workforce,” mentioned Matt Huang, Co-Founder Paradigm.
TaxBit was based by CPAs, tax attorneys, and software program builders with a purpose to allow widespread cryptocurrency adoption by automating the regulatory hurdle of tax and accounting compliance. TaxBit is positioned in Salt Lake Metropolis, UT. To study extra go to: www.taxbit.com, Twitter, LinkedIn.
Michelle O’Connor, VP Advertising, TaxBit