Our client is a leading platform provider in the Crypto space, offering a comprehensive tax solution for users to effortlessly manage and report on any type of virtual currency, cryptocurrency, or digital asset transaction. The platform stands out as one of the fastest, easiest, and most accurate ways to calculate and file income, deductions, gains, and losses from virtual currency trades. 

Location

United States

Challenge

The client was facing several challenges with their current tax reporting process, including: 

  • Manual calculations: They were manually calculating their capital gains taxes, which was time-consuming and error-prone. 
  • Lack of integration: Their existing tax software did not integrate with their crypto exchanges, making it difficult to upload transaction data. 
  • Limited reporting capabilities: Their current software did not provide the level of reporting they needed to accurately assess their tax liability. 

Solution

Our team developed a custom software solution that addressed all of the client’s challenges. The software features: 

  • Automated calculations: The software automatically calculates capital gains taxes based on the client’s transaction history. 
  • Seamless integration: The software integrates with a variety of crypto exchanges, allowing the client to easily upload their transaction data. 
  • Comprehensive reporting: The software generates detailed reports for Form 8949, tax information worksheets, and more. 

Results

The client has experienced significant benefits since implementing our custom software solution, including: 

  • Reduced time spent on tax reporting: The client has saved hours each month by automating their tax calculations. 
  • Improved accuracy: The client has minimized the risk of errors by automating their tax calculations and using our software’s integrated data sources. 
  • Enhanced compliance: The client is confident that their tax reporting is accurate and up-to-date. 

Our custom software solution has helped the client streamline their tax reporting process, save time and money, and ensure compliance. We are proud to have partnered with them to develop a solution that meets their specific needs. 

Are you looking for a custom software solution to streamline your crypto currency tax reporting process or accounting automation? Contact us today to learn more about how we can help you.