TaxBit is working to bring a facility for the crypto users to get reports of their taxes on their trading of Crypto Assets on exchanges free of cost.
In the present time, Crypto & blockchain adoption is at a high level. And the increasing adoption of this industry is forcing all Crypto related services to provide services under compliance. In particular, tax-related reports are very tough for the exchange to calculate for every user. TaxBit is now doing its best to bring ease for the exchange to provide its tax reports of its users.
TaxBit Crypto tax compliance company is currently working with many leading Crypto assets provider services like coinbase exchange, Binance exchange, FTX.US, Gemini, Celsius Network, Blockchain.com, Venmo, Paxos, OkCoin, BlockFi, and PayPal.
The network of TaxBit launched in collaboration with multi exchanges and that will result in a very easiest method for the crypto traders to get a direct easy calculation of their taxes, within a matter of clicks.
The executives of the TaxBit confirmed that they will try to keep adding new crypto services with them so that they can bring more clarity and easy methods for the crypto users to calculate the tax.
Michelle O’Connor, TaxBit vice president of marketing, stated that they are working to make every user able to generate free crypto tax forms, and also users who will sign up at their platform of Taxbit, will get free tools to calculate taxes.
TaxBit also said that this initiative, not only ease users, but also it will push the adoption of the crypto and blockchain industry more perfectly. And also the precise rules to pay taxes to the government will help the government agencies to work much better for the crypto industry with better favourable rules and regulations.
“Our portfolio performance and tax optimization solution…. will provide the retail consumer with tax compliant solutions to optimize their holdings through tax-loss harvesting,” President said.