Taxbit is a cryptocurrency tax software program that helps each small cryptocurrency customers and large enterprises with crypto accounting. Austin Woodward, the CEO of Taxbit can 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 had been acquired by SAP days earlier than IPO for $8 billion.
What’s TaxBit and what distinctive companies does the platform present?
TaxBit is a cryptocurrency tax platform and accounting agency that allows the widespread adoption of cryptocurrency to be doable by automating the regulatory hurdle of tax compliance. Our platform gives cryptocurrency exchanges with best-in-class, in-app Tax Heart Suites. Customers can see the real-time tax affect 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 varieties.
What’s the expertise behind TaxBit, might you give us a walkthrough of the way it works?
TaxBit provides customers entry to an industry-leading suite of tax merchandise for each customers and enterprises. TaxBit’s expertise 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 customers in addition to enterprise clients for his or her end-user.
Inside a number of of the main cryptocurrency change platforms, customers can simply work together with TaxBit Enterprise’ expertise by clicking on the “Tax Heart” tab inside their change account. This tab is being powered by TaxBit’s APIs, offering you an entire tax expertise natively inside an change’s software.
Moreover, customers 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 out there in real-time.
The blockchain market now appears to be centered extra on DeFi, why is a platform like TaxBit necessary now?
Defi has emerged as an progressive technique to commerce cryptocurrency immediately with friends. It may be tough to trace transactions that happen on DeFi platforms, making it onerous for a shopper to report these trades in your taxes. We’ve solved this downside through our shopper 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 mechanically preserve monitor of a consumer’s taxes for them.
How does Taxbit combine the end-to-end suite of tax companies inside enterprise platforms?
TaxBit developed best-in-class information feeds working immediately with most of the world’s largest exchanges through API, giving customers a collection of tax tools natively inside their change account.
Do you’ve gotten any out there alternatives for buyers and companions at Taxbits?
TaxBit continues to companion with most of the main cryptocurrency exchanges, pockets platforms, and accounting corporations. TaxBit is backed by a few of the most respected buyers within the {industry}. Please attain out to our assist staff for extra info on partnership alternatives.
May you inform us about your staff and buyer assist?
TaxBit is each a software program platform and an accounting agency. TaxBit has a staff of CPA’s and tax attorneys that guarantee the best stage of accuracy. TaxBit additionally has a big assist staff that’s all the time out there to reply any consumer questions and assist customers onboard. Each TaxBit Shopper account consists of dwell chat assist! We satisfaction ourselves on having the perfect buyer assist and buyer sentiment on websites like Trustpilot communicate to the high-quality assist we offer.
How Protected is Taxbit, would you want to speak about your safety measures?
TaxBit’s inner controls and safety measures have been independently audited and SOC 2 licensed. We take nice satisfaction in defending our customers information.
Do you’ve gotten extra info for our readers?
We created TaxBit to make cryptocurrency taxes easy for customers and we’re right here to assist, with real-time entry to your tax obligations and reporting. Our staff of {industry} main consultants are right here to assist navigate any points that 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 simple, verify us out in the present day and click this link to save 10% off your plan.
