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CryptoBitSquad Unveils BitTaxer for Cryptocurrency Tax Analysis
BitTaxer Is Simple Cryptocurrency Tax Solution That Easily Integrates with Any Traditional Tax Software
By: CryptoBitSquad, Inc.
The BitTaxer platform allows users to easily and accurately calculate and file income, capital gains and losses from virtual currency investments on any exchange. It is a CPA-approved cryptocurrency tax software and is available on the web at BitTaxer.com and soon natively on iOS and Android.
"As cryptocurrencies like Bitcoin have become more popular, we are seeing a demand in the space for something that helps virtual currency users and investors understand what their tax obligation is," said BitTaxer CEO, Brennan Snow. "In 2014, less than 500 people paid taxes on their crypto holdings. I don't imagine the government will continue to leave that money on the table. Some of the recent actions we've seen taken by the IRS should serve as some indicator of things to come, and as confirmation that the climate is indeed shifting toward compliance."
The software, available at http://www.BitTaxer.com, allows users to import their trade and/or mining histories directly by uploading their exchange specific data to the platform. From there, numbers are crunched and transactions classified, enabling crypto holders to get an accurate assessment of gains and losses. BitTaxer then generates reports which can be easily transferred over to the user's chosen tax software.
"As a point of pride, BitTaxer directly connects to all cryptocurrency exchanges that support such a connection, which allows us to access the most accurate picture of a user's transaction history, " Snow continued. "After importing user data, we don't share with or sell to any third parties, unlike other services available."
Users can sign up on the website or by downloading the BitTaxer app in the Apple App Store or through Google Play (coming soon). The free plan, allows upload, classification, and analysis of all transactions recorded on the user's cryptocurrency exchanges and wallets. BitTaxer users can upgrade to BitTaxer Individual for access to full reports when they are ready to file. BitTaxer Professionals extends the functionality to tax pros by providing reports and tools for managing their clients' files.
Snow explains: "We believe in virtual currency as a force in the future economy. We want to see virtual currency stick around and gain the broad adoption we believe it deserves, while also meeting our goal of educating and serving the community. We believe compliance is a big part of that effort."
Download BitTaxer for free today at http://www.bittaxer.com
Brennan Snow, CEO