PayPal, Coinbase, and Winklevoss Twins Invest in Crypto Tax Startup 

2021-1-7 18:07

With tax day fast-approaching, PayPal, Coinbase, and Winklevoss Capital are backing the crypto-specific tax service, TaxBit. 

TaxBit Lands Investment Ahead of Tax Season

TaxBit, a tax automation startup, has secured investment from leaders in the crypto space just as American investors have officially entered tax season. 

For reference, the 2020 fiscal year’s income tax filings are due to the IRS before the Apr. 15, 2021 deadline. 

Crypto gains bring a lot of complexity for tax filers in determining the appropriate amount of taxes. The ambiguity is presented by airdropped tokens and separate gain or losses from holding or trading. 

Further, many individuals, including younger investors, are unaware of the precise reporting process. TaxBit’s value proposition is precisely this: ease the reporting process by automating users’ filings.

On the latest investment, Austin Woodward, CEO and founder of TaxBit and Certified Public Accountant (CPA), told Crypto Briefing via email: 

“Cryptocurrency is one of the hottest spaces in fintech and quickly going mainstream. Paypal and other global mega-companies are embracing the technology. We’re scaling rapidly to meet the demand for exponential growth in our enterprise and consumer offerings while preparing to launch two new products in the coming months.

This investment from industry leaders like Paypal ventures, Coinbase ventures, and Winkelvoss Capital furthers our mission of enabling widespread cryptocurrency adoption by automating the regulatory hurdle of tax compliance via best-in-class software.”

Beyond leveraging services like TaxBit, more advanced traders with unique activity should consider hiring a crypto tax specialist. Using both a chartered accountant and crypto-specific tax services are a crucial part of any enthusiast’s journey with digital assets. Failing to do so has already proved costly for many. 

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto tax startup invest twins coinbase winklevoss

crypto tax → Результатов: 126


Crypto Mining and Trading In Russia Will Attract 15% Tax – Here’s How It Compares Globally

Russia is poised to implement a 15% tax on all crypto mining and trading activities. The move aims to foster a regulatory framework that supports the growing digital asset industry. 15% Tax On Crypto Trading And Mining Activities According to Interfax, the Russian Government has approved draft amendments to the bill on taxation of income […]

2024-11-20 14:30


Фото:

Japan Could See Tax Cuts On Crypto, Here Are 3 Top Cryptos To Consider As The World Continues To Welcome Cryptocurrency

Leader of Japan’s Democratic Party has promised a flat rate tax cut on crypto earnings if he is elected, highlighting the ever-growing mainstream integration and adoption of crypto. If the politician gets into power, Yuichiro Tamaki has pledged to reduce crypto taxes to 20%, matching the stock market.

2024-10-23 15:18


TokenTax Review – Is Token Tax a Good Crypto Tax Calculator?

Today, cryptocurrencies are taxed in almost every country in the world. However, calculating your crypto taxes is one of the more stressful parts of being a crypto trader because it is very time consuming – not to mention difficult! The time it takes to report on your crypto taxes depend on many things, such as […] The post TokenTax Review – Is Token Tax a Good Crypto Tax Calculator? appeared first on CaptainAltcoin.

2022-6-13 10:45


TokenTax Review [2021] – Is Token Tax a Good Crypto Tax Calculator?

Today, cryptocurrencies are taxed in almost every country in the world. However, calculating your crypto taxes is one of the more stressful parts of being a crypto trader because it is very time consuming – not to mention difficult! The time it takes to report on your crypto taxes depend on many things, such as […] The post TokenTax Review [2021] – Is Token Tax a Good Crypto Tax Calculator? appeared first on CaptainAltcoin.

2021-8-24 13:30