Posted 11 months ago | by Ben Armstrong
ZenLedger Tax Software-As-A-Service (SAAS) Does Loads for Traders and CPAs
Seattle-based ZenLedger offers tax reporting Software-as-a-Service (SaaS) for cryptocurrency investors and traders, which aims to make cryptocurrency tax reporting easy. If you need to get a handle on your crypto tax situation, please click right here for more info on how to get started.
While cryptocurrency investors must navigate a complex web of coins, currencies, wallets, exchanges, and regulations to profit from their activities, ZenLedger makes it much easier for individual crypto traders and CPAs who need to wrangle tax liabilities.
The platform gives traders and CPAs access to:
- transaction tracking
- profit/loss calculations
- tax-form generation
ZenLedger has also created an alliance with TurboTax and Gordon Law Group to deliver great tax reporting tools. It supports a wide range of tokens and numerous major crypto exchanges.
ZenLedger Works With TurboTax
One of ZenLedger's biggest advantages is the partnership it created with TurboTax. According to Dan Hannum, ZenLedger COO, the collaboration not only provides professional tax services but also full support to CPAs.
He explained that ZenLedger has customized solutions for its diverse customer base because each customer has varying needs. For example, if a client already has a CPA, they may not want to find another one to deal with cryptos.
Perfect Tools for CPAs
CPA Suite is the ZenLedger platform that allows CPAs to maintain transactions, figure out if there are capital gains and losses, and generate tax forms. Grand Unified Accounting (GUA) gives ZenLedger clients access to advanced spreadsheet tools that can be exported to other platforms.
A CPA can use the tools to unify all the transactions from all the client's exchanges and wallets, which saves both time, and ensures that no transactions go overlooked. These are great tools and will help both a CPA and their client to achieve maximum compliance.
ZenLedger Pricing Plans
ZenLedger’s pricing plans are geared to work for numerous kinds of traders and CPAs. The company recently launched a Free Plan and all of its plans include robust features such as:
- FinCEN reporting: For reporting certain foreign-exchange holdings, such as Kucoin and Binance.
- EOS ICO support: Tracks pre-ICO EOS transactions, whether unstacked or moved between EOS and ETH wallets.
- Tax-loss harvesting tool: Specifies unrealized capital losses for each token type.
The new Free Plan is ideal for crypto investors with a limited number of transactions (25 transactions or fewer per year).
The Free Plan allows access to all great features included in paid plans as well as including all popular IRS forms, which auto-filled and ready to submit to the IRS, full audit report, all exchanges and wallets, and over 30 blockchains, among many other tools.
Loads of Support
ZenLedger up to 400 Exchanges with more advanced plans, and also 5k+ Coins. Support for every major wallet on the market today are also there for its clients, and the company is always looking for new ways to make tax compliance for crypto traders easier.
ZenLedger has established other important partnerships, including those with Delphi Digital, one of the best crypto research boutiques, and Staked, a provider of block product nodes for decentralized PoS protocols. The company is committed to being a positive part of the crypto industry.