What's new at taxbit?
SALT LAKE CITY, Aug. 12, 2021 /PRNewswire/ -- TaxBit, the leading tax and accounting software provider for the digital economy, announced today a $130 million Series B funding round at a $1. 33 billion valuation.
Why invest with taxbit?
The industry’s leading investors have invested in and use TaxBit. You are in good hands. When it comes to 1099 issuances and tax form filings, it’s a zero error game. Independently SOC 2 certified.
How does taxbit consumer work with taxbit enterprise?
We connect the processes of enterprises producing and issuing 1099s with that of consumers transforming their 1099s and other data into completed tax reports that are ready to file. TaxBit Consumer and TaxBit Enterprise interact so that users have a seamless and unified tax experience across all of the platforms that they use.
Is taxbit a ‘must have’ for crypto-native companies?
"Tax reporting requirements make TaxBit a 'must have' for both crypto-native companies as well as traditional financial services companies as they increasingly embrace crypto," said Tom Loverro, General Partner at IVP.
Can you buy TaxBit stock?
At this time, TaxBit does not support stocks or other related tax fillings on our platform. With TaxBit, you can easily link exchanges and wallets to seamlessly pull your transactions through our industry-leading tax engine.
Is TaxBit legitimate?
TaxBit is used by some of the largest regulatory agencies around the world and is considered to be one of the most trustworthy programs in the industry.
How much is TaxBit worth?
$1.33 billionJust five months after raising a $100 million Series A, TaxBit announced today it has raised $130 million in a Series B round of funding. The latest financing officially makes the Salt Lake City, Utah-based provider of crypto tax and accounting software a unicorn, with a valuation of $1.33 billion.
Who uses TaxBit?
TaxBit's software is used by thousands of everyday crypto users, in addition to crypto exchanges and merchants with regards to their 1099 and enterprise reporting requirements. The company was founded in 2018 and is based in Draper, Utah.
How does TaxBit make money?
Behind the scenes, the companies that are part of the TaxBit Network are paying so that they can give their users access to the company's software. This is similar to how health insurance networks works.
Where is TaxBit based?
TaxBit was founded in Salt Lake City, but opened its Seattle headquarters last month. It employs less than 10 people in Seattle and hopes to have 40 people at its “HQ2″ by the end of the year. TaxBit has around 80 total employees.
Does TaxBit report to IRS?
According to TaxBit, an IRS-compliant software for reporting crypto taxes, if you answer yes to that question, the IRS will check to see if you submitted an IRS 8949 capital gain/loss report.
Does TaxBit work with Coinbase?
Your Coinbase account will be successfully linked to your TaxBit account, and all you need to do is hit the "Sync" button to initiate that process of bringing your transactions over via API.
How do I buy TaxBit?
Visit www.taxbit.com/invite/uphold. Create an account with TaxBit and agree to the terms and conditions. Choose either a Basic, Plus, or Pro plan and enter payment information (the 10% discount will automatically apply when using the link in step 1).
Does TaxBit work with Uniswap?
TaxBit provides integration support for the Uniswap protocol. Uniswap users are able to access and download FREE 8949 forms for their Uniswap activity. The integration supports V1, V2 and V3 transactions from the protocol.
Does TaxBit work with Binance?
As a user of Binance.US, a supported TaxBit Network Company, you're now able to receive FREE Forms 8949 and income reports that are ready to file. Plus, you can connect your Binance.US account via the Tax Center to sync all your transactions and discover the impact of potential trades in real time.
How do I link Coinbase to TaxBit?
Note: Before starting, please have the Coinbase Pro API Exchange page pulled up in your TaxBit account. You can access this API Exchange page by going to the Add Transactions page > Add Exchange > Locate the Coinbase Pro option. 1. In a separate browser, or browser tab, log into your Coinbase Pro account.
What is TaxBit network?
The TaxBit Network is an industry-wide program for the most reputable digital asset exchanges, protocols, and marketplaces. We're removing the cost and pain that digital asset retail investors face when preparing their crypto tax forms. Let's advance and grow the tokenized economy.
Does TaxBit work with Coinbase pro?
Your Coinbase Pro account will be successfully linked to your TaxBit account, and the sync will proceed start.
How do you use TaxBit?
This guide will walk you through three important steps to help you get the most out of your TaxBit account....How to Successfully Use TaxBitStep 1: Add your crypto data into TaxBit— across all time and every source.Step 2: Checking for missing cost basis.Step 3: Checking your Tax Optimizer balances.
Does TaxBit work with BlockFi?
As a user of BlockFi, a supported TaxBit Network Company, you're now able to receive FREE Forms 8949 and income reports that are ready to file. Plus, you can connect your BlockFi account via the Tax Center to sync all your transactions and discover the impact of potential trades in real time.
TaxBit Comparisons
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What is tax bit?
TaxBit connects the consumer and enterprise cryptocurrency tax experiences. Whether you are a platform that needs to issue 1099s, or a user that needs to report their taxes, TaxBit’s cryptocurrency tax software unifies the process.
Who is Taxbit backed by?
TaxBit is backed by the world's leading investors in cryptocurrency and fintech. This foundation sets us up for many years to come to fulfill our mission of enabling widespread cryptocurrency adoption by automating the regulatory hurdle of tax compliance.
What is tax bit?
Designed by CPAs and tax attorneys, TaxBit is the leading tax and accounting solution for the digital economy. TaxBit's customers include the world's top exchanges, institutional investors, governments, and individuals. As the first and only company to build real-time ERP accounting software for commodities, equities, and other digital asset investments, TaxBit provides enterprise clients with seamless end-to-end solutions including core accounting suite, customer management suite, and form issuance. TaxBit Consumer makes filing taxes on digital asset investments simple and painless, while equipping them with real-time directional insights 24/7, 365. TaxBit connects all digital asset transactions across every exchange so that individuals and enterprises can accurately file their taxes, manage their portfolios, and make tax-optimized trades, all through TaxBit's seamless & secure software. TaxBit has HQ in Salt Lake City and Seattle. To learn more visit: www.TaxBit.com, Twitter, LinkedIn.
Who is the CEO of FTX?
FTX CEO Sam Bankman-Fried commented, "FTX US is excited to partner with TaxBit in bringing a world-class tax experience directly to our platform. FTX US users will have access to portfolio performance statements, tax optimization tools, and year-end tax forms that make it easy for users to report and file their taxes. TaxBit's technology supports FTX's commitment to compliance while focusing on the customer experience."
