TaxBit is the premier tax and accounting solution for the tokenized economy, designed by CPAs and tax attorneys. TaxBit's platform is used by the biggest exchanges in the sector and institutional investors, governments and individuals.
Fremont, CA: TaxBit, the top tax and accounting software supplier in the tokenized economy, has announced a new partnership with Prime Trust, the premier financial infrastructure provider for fintech and digital asset entrepreneurs.
The impending Infrastructure Bill and the ever-changing tax environment for digital assets have made it difficult for digital asset enterprises to stay tax compliant. TaxBit's tax information reporting and compliance solutions, including Forms 1099 reporting and portfolio performance statements, will be available to all Prime Trust customers through this relationship.
TaxBit's CEO, Austin Woodward, had this to say about the news: "It's a pleasure to work with forward-thinking businesses like Prime Trust. For every organisation dealing in the digital asset industry, getting ahead of the 2023 deadline is critical. Our tax reporting and compliance solutions offer businesses wishing to incorporate digital assets an end-to-end solution to fulfil the demands of the digital era promptly, safely, and compliantly."
The historically complicated tax compliance procedure across the digital asset market is streamlined by adding TaxBit's tax and reporting capabilities. As a result, any company that uses Prime Trust's comprehensive API-based infrastructure solutions, including custody, compliance, liquidity, and settlement, may now create tax-compliant offerings with ease and speed.
"We take pride in enabling our customers to swiftly create a crypto business through a simple API integration," said Sara Xi, Prime Trust's Chief Product Officer. "As a crypto-first infrastructure provider, tax compliance and reporting are crucial. We're actively developing our automated reporting and tax compliance offering, where TaxBit will play a crucial role, to support our exponential growth."
