Accointing: A One-Stop Crypto Tax Solution
Complying with crypto regulations got easier thanks to Accointing.
Accointing is your solution for tax filing on crypto gains. It doesn't matter which regulations you fall under or which country you live in. Your short-term and long-term gains will be calculated separately once you connect your trading accounts with Accointing. One can also connect their wallets like Metamask and know how much they owe on their gains.
Now several countries have implemented different tax slabs on crypto gains. Accointing solves this problem intrinsically by already complying with most of the regulations. A recent push by various governments towards crypto regulation has resulted in the need for such tools.
Accointing was founded in 2018 when crypto laws were not as strict as today. Many countries didn't even have guidelines on how to file these taxes in 2018. From there, the company has grown tremendously to include every user base under its umbrella.
Accointing.com was also recently acquired by an industry-leading analytics platform, Glassnode. Now with all the expertise Glassnode has to offer combined with the experience Accointing has in this space, it's fair to state that these guys will be the flag bearers once crypto tax filing goes mainstream.
How does Accointing help you?
Now let's suppose you're a day trader, opening and closing many trades in a day. Your turnover every day surpasses multiple thousands of dollars. It'd really be a task to audit hundreds of trades on a daily basis. Your CA will probably run for their lives taking printouts of your trade reports.
Accointing.com has got all this sorted and gives out calculations within seconds. You don't even have to click twice and you already have your taxes calculated. One can get their reports in FIFO, LIFO, and HIFO formats to file their taxes properly.
You can connect most of the centralised exchanges via API keys and have your trading reports generated. You just need to give access to 'read-only' APIs and you'll be good to go. Tax reports will be generated, and, from there on, you can select via which channel you want to submit your taxes. You can file your taxes yourself or via online tools, or you can have your CPA file it for you. All these options are available on the platform.
With crypto regulations becoming a thing we all have to comply with, having tools like Accointing helps us have peace of mind while trading and even afterwards.
Author: Abhijeet Anand
Abhijeet has been a Crypto Research Analyst since 2018. He is trading and writing about Bitcoin actively since then. His world view and ideas are unique as well as interesting to read. He brings the storytelling style writing to complex topics and makes them easy to understand. Abhijeet has past experience of building crypto Products and analysing Businesses in detail. He writes about whatever intrigues him, obviously it's primarily crypto. His past experiences in this space has made him a firm believer of "It works, until it doesn't".