TaxToken, a blockchain-as-a-service (BaaS) company that helps taxpayers simplify personal cryptocurrency accounting, announced the official launch of the company. TaxToken combines blockchain and artificial intelligence to automate much of the cryptocurrency tax filing process, for simple, quick and error-free archiving.
The co-founders Nathan Nichols and Michael Foland conceived TaxToken with the belief that the current process of archiving cryptocurrencies is broken and puts an excessive burden on taxpayers to keep a meticulous registry and hire costly accountants to guide them.
TaxToken's BaaS solution solves these problems through AI-based automation; it automatically synchronizes with the user's exchanges and portfolios and provides an easy import toolkit for commercial, ICO, Airdrops, fork, mining, payments and cryptocurrencies lost or stolen. An intuitive dashboard offers a complete transaction review before filing, allowing users to quickly download automatically filled tax forms that can be exported to the storage system of their choice, including H & R Block, TurboTax and TaxAct.
In addition to supporting people, TaxToken provides business solutions for CPA companies, cryptocurrency trading, high-frequency trading companies and cryptocurrency portfolios.
"TaxToken was founded on a principle: it should not be difficult to file taxes on cryptocurrency," said co-founder and CEO Nathan Nichols. "TaxToken is humiliated and enthusiastic about officially launching our cryptocurrency accounting software and playing our role in the development of the blockchain ecosystem."
Users can go to www.taxtoken.io where they can register for early access to their tax solution and get more information on TaxToken.