NEW YORK, March 1, 2022 /PRNewswire-PRWeb/ -- Cointelli has announced the launch of its tax calculation software for reporting on cryptocurrencies and other digital assets. Its highly accurate and easy-to-use software helps consumers and enterprises determine tax liabilities and remain in compliance with current tax regulations.
Cointelli's crypto tax software was built by CPAs and designed to provide users with fast and reliable calculations when determining their tax liabilities. The software covers over 100 wallets, blockchains, and exchanges, including Coinbase, Binance and Cash App. It also calculates a variety of activities ranging from buy and sell transactions to DeFi, staking, margin trading, and many others.
There are two product offerings for users of Cointelli. Individual investors and holders of cryptocurrencies can use the tax software to help calculate and determine their tax liability when creating their yearly tax returns. Furthermore, enterprise tax filing companies like CPA firms can also use Cointelli to provide quicker and more accurate crypto tax calculations for their clients.
The main features that make Cointelli the premier resource for tax filing of cryptocurrencies and other digital assets include:
- Reliability – Created by seasoned tax professionals
- Accuracy – High API coverage with error auto-fix
- Ease of use – Gains and losses are calculated in four easy steps
- Affordability – Low, fixed price of $49 for consumer product
- Security – Never asks for keys (only reads access keys) and never sells data to third parties
"Last year, when I heard the IRS was ramping up its efforts to enforce crypto tax laws, I started to worry," said founder and CEO Mark Kang. "I knew that this would cause millions of people to suffer. That is why I set out to make a new crypto tax software — to protect those who would need to file their crypto taxes."
Cointelli aims to partner with an expanding list of exchanges and enterprise tax filing providers to allow easy accessibility across the market. To this end, Cointelli recently partnered with Uphold, a crypto wallet that makes buying crypto easy and allows users to buy and trade over 80 digital currencies.
Speaking about the technical innovations that make Cointelli different, CTO Kisung Byun said, "It is nearly impossible to produce crypto tax software that is accurate for everyone. To overcome this, we have employed a method of software development that allows non-developers to instruct our software on how to process vast amounts of data across numerous sources in various formats. In this way, we have been able to achieve the level of work that is required to bring a truly remarkable product to life."
Speaking about what the future holds for Cointelli, the company's COO said, "Our journey will not end with crypto tax software. We plan to kick off an unprecedented adventure in the new crypto and blockchain-based world."
About Cointelli: Cointelli is a crypto tax reporting company founded by Mark Kang, a certified tax professional whose long experience serving his community as a CPA motivated him to develop user-friendly tax software. Cointelli automatically detects and corrects errors during the tax report generation process and is compatible with TurboTax as well as a broad range of crypto exchanges and wallets. In these ways and more, Cointelli brings ease to the tax reporting process.
Media Contact
Cayleigh Palen, KCD PR for Cointelli, 404-772-1359, [email protected]
SOURCE Cointelli
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