Taxbit is a cryptocurrency tax software program that helps each small cryptocurrency shoppers and large enterprises with crypto accounting. Austin Woodward, the CEO of Taxbit might be sharing extra particulars with us on this unique interview with TechBullion.
Please inform us your title and about your self?
My title is Austin Woodward and I’m the CEO of TaxBit, and a CPA. Previous to launching TaxBit, I used to be an early worker and the Controller at Qualtrics. Throughout my time at Qualtrics, we grew to over 2,000 staff and have been acquired by SAP days earlier than IPO for $8 billion.
What’s TaxBit and what distinctive providers does the platform present?
TaxBit is a cryptocurrency tax platform and accounting agency that allows the widespread adoption of cryptocurrency to be potential by automating the regulatory hurdle of tax compliance. Our platform offers cryptocurrency exchanges with best-in-class, in-app Tax Heart Suites. Customers can see the real-time tax impression of the trades they make, optimize trades to cut back their taxes to the best extent, and obtain all of their 1099 and different required tax types.
What’s the know-how behind TaxBit, might you give us a walkthrough of the way it works?
TaxBit presents customers entry to an industry-leading suite of tax merchandise for each shoppers and enterprises. TaxBit’s know-how has built-in the IRS’ tax code associated to cryptocurrency and automatic the information ingestion course of to automate customers’ taxes. Simplifying the expertise for shoppers in addition to enterprise prospects for his or her end-user.
Inside a number of of the main cryptocurrency trade platforms, customers can simply work together with TaxBit Enterprise’ know-how by clicking on the “Tax Heart” tab inside their trade account. This tab is being powered by TaxBit’s APIs, offering you a whole tax expertise natively inside an trade’s utility.
Moreover, shoppers can profit from signing up for a TaxBit Consumer account. They’ll seamlessly join all cryptocurrency buying and selling exercise throughout a number of platforms making their portfolio monitoring metrics, tax metrics, and tax paperwork obtainable in real-time.
The blockchain market now appears to be centered extra on DeFi, why is a platform like TaxBit essential now?
Defi has emerged as an progressive approach to commerce cryptocurrency instantly with friends. It may be tough to trace transactions that happen on DeFi platforms, making it onerous for a client to report these trades in your taxes. We’ve solved this downside by way of our client product, which makes the method of aggregating and reporting taxes on DeFi transactions easy.
Most cryptocurrency exercise nonetheless takes place on centralized exchanges. Centralized exchanges provide many advantages comparable to custody, safety, and in-app tax facilities (powered by TaxBit) that routinely hold monitor of a consumer’s taxes for them.
How does Taxbit combine the end-to-end suite of tax providers inside enterprise platforms?
TaxBit developed best-in-class knowledge feeds working instantly with lots of the world’s largest exchanges by way of API, giving shoppers a set of tax tools natively inside their trade account.
Do you’ve any obtainable alternatives for buyers and companions at Taxbits?
TaxBit continues to accomplice with lots of the main cryptocurrency exchanges, pockets platforms, and accounting corporations. TaxBit is backed by a number of the most respected buyers within the {industry}. Please attain out to our assist workforce for extra info on partnership alternatives.
May you inform us about your workforce and buyer assist?
TaxBit is each a software program platform and an accounting agency. TaxBit has a workforce of CPA’s and tax attorneys that guarantee the best degree of accuracy. TaxBit additionally has a big assist workforce that’s at all times obtainable to reply any consumer questions and assist customers onboard. Each TaxBit Client account contains stay chat assist! We delight ourselves on having the most effective buyer assist and buyer sentiment on websites like Trustpilot converse to the high-quality assist we offer.
How Protected is Taxbit, would you want to speak about your safety measures?
TaxBit’s inside controls and safety measures have been independently audited and SOC 2 licensed. We take nice delight in defending our customers knowledge.
Do you’ve extra info for our readers?
We created TaxBit to make cryptocurrency taxes easy for shoppers and we’re right here to assist, with real-time entry to your tax obligations and reporting. Our workforce of {industry} main consultants are right here to assist navigate any points which will come up from a 1099-Okay that results in an IRS CP 2000 letter, or a forgotten submitting of years previous. TaxBit is right here to assist make taxes easy and easy, examine us out right this moment and click this link to save 10% off your plan.
