With the continued growth of the cryptocurrency ecosystem, millions of people around the world have started investing in the crypto market to take advantage of the unique opportunities it provides to generate income in different ways.
CryptoTaxCalculator was created to help crypto investors in the United States, Canada, New Zealand, United Kingdom, and Australia, identify which taxes they are subject to when it comes to crypto investments easily and automatically.
You can ensure that you don’t incur the IRS’s, or your local tax agency’s wrath in the future.
As crypto investment grew, so did the oversight of governments around the world who started not only regulating access to cryptocurrency buying services but also decided to tax crypto holders as they would with other types of property.
One of such countries was the United States, with the internal Revenue Service (IRS) classifying cryptocurrencies as property, making those investors who sold, traded, or used crypto as a payment method at some point subject to capital gain taxes.
CryptoTaxCalculator: Making Crypto Investment Easier
The taxing process is one of the most complex bureaucratic procedures in any country, requiring millions of people each year to go through a painstaking process to calculate how much taxes they have to pay, with cryptocurrencies being one of the most unknown areas when it comes to calculating.
While multiple solutions have been created to facilitate the calculation of how much should be paid in taxes each year there are a lot of doubts and a low number of platforms that have integrated such features when it comes to cryptocurrencies.
What is CryptoTaxCalculator?
Created back in 2018 soon after the Initial Coin Offering (ICO) boom of 2017, CryptoTaxCalculator was created as a solution to traditional tax assistance software to deal with the calculation of complex crypto transactions efficiently.
Shane Brunette, a software engineer with a Master’s in Artificial Intelligence and a double…