Cryptocurrency taxes made easy
BearTax is a company that develops crypto tax software to help crypto investors across the globe manage their crypto taxes efficiently and easily. The company claims that its product will help investors, CPA’s, and tax agents across the globe easily calculate capital gains or losses and also report FBAR and FATCA (for US) easily. CPA or tax agents would need to send an e-mail to access the dedicated service for CPA and tax agents, while individual investors can go straight ahead to the website and register to use the platform.
According to Crunchbase, BearTax is integrated with major cryptocurrency exchanges via secure APIs. The platform supports file uploads to help users manage their taxes easily. It can consolidate trades, review missing sources, match buys and sells history, and can calculate gain-loss information quickly. The software is reported to works with USA, Australian, Japanese, and Canadian tax periods, with native support of their native currencies. It plans to add additional countries and currencies in the future, in order to increase and support its existing global user base or tax agents.
According to its website, BearTax is easy to use. Users can import their trades history from exchanges with API calls or file uploads. After that, they can review and assign right prices to your transactions and process them using FIFO or LIFO methods. After they finish calculating and checking the results, the platform will auto-generate their tax documents and send them to their accountants or downloaded them for themselves.