TaxBit
Automated tax and accounting for the digital economy.
Executive Summary
TaxBit is an enterprise-grade tax and accounting software platform designed for the digital economy, automating digital asset tax reporting and financial reporting. It serves enterprises, financial institutions, and governments, providing solutions to manage digital asset compliance with accuracy, automation, and auditability. The platform differentiates itself through its API-powered, end-to-end capabilities, built by tax experts and CPAs, ensuring adherence to evolving global regulatory frameworks.
Use Cases
- Automating crypto tax reporting and form generation for enterprises and financial institutions.
- Ensuring compliance with global digital asset regulations such as DAC8, CARF, and 1099-DA.
- Integrating digital asset transactions with existing ERP systems for accurate financial reporting.
- Conducting financial crime investigations by merging on-chain and off-chain data.
- Managing and tracking seized crypto assets for law enforcement and government operations.
- Performing complex cost basis accounting and fair value measurements for digital asset portfolios.
Features
Visibility
- Customizable Rules Engine: Allows users to create customized, logic-based rules for automated transaction categorization and reconciliation.
- Real-Time Analytics: Provides real-time visibility into reporting status, transaction history, and compliance metrics.
- Reconciliation Views: Offers tools to cross-reference incoming data feeds for accuracy and easily spot data gaps.
- Principal Market Analysis: Guides price selections from particular exchanges for determining crypto fair value measurements and supports ASC 820 compliance.
Intelligence
- Automated Calculations: Automates complex calculations for cost basis, gains/losses, and fair market value adjustments.
- AI-Enabled Categorization: Uses AI to automate and streamline the transaction categorization process, reducing manual effort.
- Non-Compliance Detection: Identifies potential compliance issues and risks through bulk data analysis and information returns.
- Automated Data Monitoring: Effortlessly captures reporting data and automates data monitoring for various compliance regimes.
Support
- Online Support Forms: Provides dedicated online forms for enterprise tax, accounting, and government solutions support.
- Email Support: Offers email channels for general inquiries and specific support requests.
- Developer Documentation: Comprehensive documentation for API integration and developer resources.
Technical Specifications
- Architecture
- Cloud-native SaaS, API-First Design
- Deployment
- Cloud/SaaS
- Authentication
- SSO, SAML 2.0, MFA
- API Available
- Yes
- MCP Server
- No
AI/ML Stack
- Machine Learning
Integrations
- Coinbase
- Binance
- QuickBooks
Security & Compliance
Certifications: SOC 1 Type II, SOC 2 Type II, ISO 27001
Encryption: Encrypted data handling for sensitive information.
Pricing
- Model
- Tiered subscription, Custom enterprise
- Starting Price
- Starting at $0 for individuals, up to $500/year for advanced individual plans; Contact sales for enterprise solutions.
- Target Customer
- Mid-market to Enterprise, Government
- Contract Type
- Annual (common for enterprise SaaS, not explicitly stated)
- Free Trial
- Yes, Custom demo for enterprise; Free plan available for individuals. (credit card required)
About taxbit
TaxBit is a fintech company that provides cryptocurrency tax, accounting, and reporting software for consumers, enterprises, and exchanges. They offer SaaS solutions that automate tax calculations, compliance, and bookkeeping for digital asset transactions.