💵 Tax Accounting Software for Crypto

Today's Highlights

• BearTax - generating crypto tax documents with ease
• This Week On BuzzBelow - a recap on this week's topics.
• In Other News - a few interesting developments we're tracking.

BearTax - generating crypto tax documents with ease

BearTax is crypto tax accounting software that can be useful for either an individual or a professional whose clients are buying and selling crypto assets on a regular basis. This software has been simplified into a simple, three-step process that involves the user importing their trade data via an API key or CSV file, reviewing all the data that has been added to the platform, and then allowing the user to download the tax documents that can be imported into traditional tax reporting software.

The best feature about BearTax is the pricing. While the entry level fee allows for 20 transactions per year, the professional level fee includes unlimited transactions and assistance from an actual accountant. Another great feature of BearTax is the seamless integration with traditional tax reporting software. There is no problem using BearTax to handle all crypto-related tax obligations.

A final feature of BearTax worth mentioning is that this platform also has a separate section for accountants who wish to handle crypto taxation on behalf of their clients. Accountants are able to respect the privacy of the clients. The clients can import their own trading data from the exchange account which in turn can be downloaded by the accountant.

Anyone who is both new to crypto and making a lot of trades may find value in BearTax as users can get assistance from actual accountants and can import a limitless number of trades from their crypto exchange accounts if they pay the Professional BearTax account fee.

One key issue with BearTax is the lack of support in a large number of different countries. But the software can still be used in those countries to generate estimates on how much taxes the user owes on crypto trades. Another issue with BearTax is that it is not integrated into the DeFi ecosystem and it does not act as a crypto portfolio tracker.

Vamshi Vangapally is the founder of BearTax. With a global user base Vamshi Vangapally aims to make BearTax the platform of choice for accountants and individuals dealing with crypto taxes. BearTax has raised a total of $3.2M in funding.

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In Other News

Protagonist Raises $100 Million to Invest in Early Crypto Startups

Protagonist – a venture capital firm that supports entities in the digital asset industry – launched a $100 million fund that will be distributed to early-stage crypto companies. The initiative was established by the firm’s Co-Founders – George Bousis, Dylan Macalinao, and Harry Hurst. Bear Markets…

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Bitcoin Production Cost Has Dropped to About $13K, JPMorgan Says

Declining production costs could be seen as a negative for bitcoin prices, the Wall Street bank said in a report.

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