Crypto Tax Online is a platform that allows users to purchase crypto tax reports suitable to take to their accountant for lodging their tax returns.
After the 2017 Bitcoin "boom", there was a lot of misinformation regarding how cryptocurrencies were treated with regards to tax information. Some people thought that crypto gains were tax free. Some said you only pay tax if your profits were over $10,000. A friend & crypto enthusiast came up with the idea of Crypto Tax Online (albeit a rather different vision to what it is now) after meeting with his accountant.
The original intention of Crypto Tax Online was to provide an online crypto specialists accounting service. We have now pivoted to providing low-cost, transparently priced, quick, and accurate crypto tax report that a user can take to their existing accountant. The user can also opt to have one of our licensed accountants to lodge their complete tax return along with generating their crypto tax report.
The users can register an account 24/7 and use our platform to get a price estimate. Once they have agreed and paid the deposit, the user is then guided through the data collection section. Once the user has supplied all of the required information the job is automatically assigned to the next available accountant and the work is started immediately.
If the accountant needs any further information, they can communicate with the client through our proprietary communications platform.
When the accountant has completed the report, a transaction list is uploaded to the platform along with the crypto tax report. Once the user has verified the transaction list, the user can then pay the remaining amount on their account. Finally, when the payment has been received the report is released immediately.
This has been a project I have worked on in my spare time from March 2018 through to July 2019. Crypto Tax Online is now on its third iteration.
- Low cost crypto tax reports
- Fast turnaround
- Mostly autonomous system
- Crypto payments integration