LibraTax Opens to the Public: Bitcoin Tax Nightmare Just Got Easier
Taxing bitcoin something that is considered to be one of the biggest headaches known to cryptocurrency users. Not only is it a nightmare to keep track of buys and sells, along with all incoming and outgoing transactions, there's also a debate on whether or not cryptocurrency users should even care about taxes. Regardless of the brewing controversy, the fact remains that it's near-impossible to keep track of the numbers efficiently under the current systems. Libra saw the trouble and is releasing their LibraTax software to the public to help keep the books in line. It's an easy-to-use....
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LibraTax, a Bitcoin tax compliance solution for businesses, recently closed a $500K USD seed funding round. LibraTax's seed funding was headed by Liberty City Ventures; other seed funders include Raptor Ventures' managing director James Pallotta and BitGo CPO Ben Davenport. LibraTax's CEO Jake Benson envisions building a core product for Bitcoin tax compliance with the raised funds. Bitcoin businesses and certified CPAs need to be able to interface easily in order for Bitcoin to succeed in the mainstream. Also read: LibraTax Opens to the Public. Bitcoin Tax Nightmare Just Got Easier. When....
Libra is officially launching their first product today, LibraTax, which aims to be an all-in-one solution for individuals and businesses looking to simplify tax obligations when it comes to digital currencies. Up until now, LibraTax has been in beta, and the service provides users tools to be in compliance with Internal Revenue Service (IRS) requirements, and also from governments around the world. Also of interest, LibraTax integrates nicely with Coinbase and Blockchain wallets, making it easy to import transactions and calculate what is owed to tax authorities comes tax season. In....
Libra, provider of Bitcoin tax accounting service LibraTax, has released two new services to help businesses and CPAs account for digital currency transactions in 2014. The IRS gave guidance that virtual currency is classified as a capital asset and taxable as property rather than currency in 2014. The services - Libra Business and Libra Pro, the latter for CPAs and accounting firms with Bitcoin clients - expands on capital gain/loss tax reporting by introducing familiar reports used for bookkeeping and monthly reconciliation. The Libra software interfaces with the blockchain, the public....
Libra has announced the imminent release of LibraTax, a new software suite designed specifically for digital currency users. The California-based software developer said LibraTax allows individuals and small businesses to comply with the latest IRS regulations and file returns reporting bitcoin, XRP and other cryptocurrency transactions. The suite should become available by the end of August. LibraTax allows bitcoin users to comply with accounting requirements put forth by the IRS earlier this year. Libra said the software will accommodate "all 2013 and earlier" digital currency users as....
Staying on the right side of the taxman just got a bit easier for businesses dealing with bitcoin and other digital currencies. On Tuesday, Libra, makers of LibraTax accounting service, introduced two new products in their suite of tax-reporting services. They also announced a new partnership with Bitpay, the world's largest bitcoin payment processor, designed to help merchants stay on top of their bitcoin-related payment transactions. Libra Business and Libra Pro. LibraTax has been offering tax-reporting solutions and helping to educate accountants and tax professionals with digital....