TaxBit is a cryptocurrency tax calculation and withholding service that serves investors, exchanges, and payment services.
TaxBit helps cryptocurrency holders and investors calculate their profits, losses, and tax liabilities, and generate IRS-friendly tax forms.
TaxBit was founded in 2018 by Austin Woodward, Justin Woodward, Brandon Woodward and Bobby Clayson. The company is headquartered in Draper, Utah.
TaxBit provides enterprise clients with seamless end-to-end solutions including core accounting suite, customer management suite, and form issuance. TaxBit Consumer makes filing taxes on digital asset investments simple and painless, while equipping them with real-time directional insights 24/7, 365.
TaxBit's products include Tax Center Suites, which was built for end users and automates back-office accounting functions for finance teams, and TaxBit Consumer, which aims to make filing taxes on digital asset investments “simple and painless, while equipping users with real-time directional insights to optimize their tax liability throughout the year.”
TaxBit’s crypto tax software supports over 4,200 cryptocurrencies, equities, commodities, and all fiat currencies. TaxBit’s crypto tax software is designed to handle millions of transactions, while also ensuring the greatest accuracy down to the smallest detail.
TaxBit is backed by IVP, Insight Partners, TTV Capital, Dragonfly Capital Partners, Paradigm, Tiger Global, PayPal Ventures, Coinbase Ventures, Madrona Venture Group, and others. The company raised $130M in Series B round on Aug 12, 2021. This brings TaxBit's total funding to $235.8M to date. The new round mints TaxBit a unicorn with a valuation of $1.33B post-money.