How ‘Cointelli For Accountants’ is making it simple to calculate purchasers’ crypto taxes
Think about a consumer presenting you with a plethora of various spreadsheets, emails, and screenshots exhibiting their crypto transaction historical past. The place would you even start?
Clearly, approaching this as a handbook job could be time-consuming at greatest and not possible at worst. When there are literally thousands of transactions to comb by way of, and completely different compliance guidelines for various kinds of exercise, issues get tough quick. And what about extra unique transactions like mining rewards, airdrops, and hard forks?
A few of the common challenges that even probably the most skilled accountants might face when confronted with a consumer’s crypto taxes embody:
- Incapability to cope with the sheer quantity of transactions
- Ambiguity concerning how sure occasions are taxed
- Calculating price foundation
- Coping with information from a number of exchanges, each overseas and home
- Assuring compliance for his or her purchasers concerning all transactions and taxes owed
- Dealing with these new challenges throughout the busy tax season
Cointelli has been developed by certified public accounts, for licensed public accountants (CPAs), to alleviate most or all of those difficulties. The software program anticipates the entire roadblocks that accountants usually encounter when coping with their purchasers’ crypto tax liabilities, and streamlines the method to supply each accountants and their purchasers with peace of thoughts.
And now, the Cointelli product has been expanded to incorporate a tailored “For Accountants” service that delivers excellent usability, and makes offering an distinctive high quality of service to your purchasers simple.
The benefits of ‘Cointelli For Accountants’
With crypto tax software program that was created by CPAs, you’ll be able to overlook about having to handle purchasers throughout a spread of paperwork and completely different applications.
With Cointelli, accountants can dispose of limitless spreadsheets and change reviews, and as a substitute handle their purchasers simply from a single dashboard. The software program’s easy, user-friendly interface makes issues fast, seamless, and really simple.
In relation to information import, purchasers can swiftly add their data into Cointelli’s software program utilizing APIs and .CSV information. The main points are then taken care of in an automatic style, presenting accountants and their purchasers with all the things they want in a single location.
You might be considering: “I do not wish to swap over to new tax software program. I am going to must abandon my established practices and begin over.” Fortunately, Cointelli can be built-in with current tax software program. Drake, ATX, CCH, and plenty of different fashionable tax applications can be utilized together with Cointelli. Not do crypto taxes must be a segregated and complicated affair.
To be taught extra about learn how to combine your current tax software program with Cointelli, please go to the Cointelli YouTube channel.
Professionals all over the place are already making the most of the numerous methods Cointelli could make their jobs simpler and assist them enrich their choices, with the software program trusted by quite a lot of CPAs, tax professionals, and accounting corporations.
What makes Cointelli completely different?
‘Cointelli For Accountants’ works on a credit-based mannequin. Accountants can decide what number of credit their purchasers will want, and assign these within the software program accordingly. Not like different crypto tax software program, Cointelli’s plans don’t require you to buy a minimal variety of credit. Reductions of as much as 20% are additionally provided to tax professionals who buy credit in bigger portions.
Tax professionals may also invite their purchasers to make use of the software program through the Cointelli dashboard, which gives the present standing of every consumer, and permits the purchasers themselves to be included within the course of. This implies purchasers can work along with their tax professionals on their crypto taxes, offering transparency and peace of thoughts for each events.
What’s extra, Cointelli is appropriate with many alternative crypto platforms, each massive and small. This makes it simple for purchasers to import and compile their information from throughout exchanges, wallets, blockchains, and geographies. Some CPAs have famous issue in coping with a number of exchanges, particularly when some are overseas and others home. This is not an issue with Cointelli, the place all the things will be built-in right into a single location.
One other huge concern for each accountants and their purchasers is accuracy of reporting. Overpaying in your taxes is clearly not supreme, however neither is underpaying, which can lead to penalties and late fees being owed sooner or later. The complexity of getting to calculate taxes for numerous completely different sorts of crypto-related actions makes this an much more urgent concern.
Having been created by accountants who had been properly conscious of the necessity for a excessive customary of accuracy, Cointelli has been designed to be exact in its calculations. Not solely are you able to depend on Cointelli to calculate the correct quantity of taxes owed, however the software program may even assist to attenuate tax liabilities wherever legally doable.
For anybody having issue, Cointelli additionally provides 24/7 support from educated tax advisors for each accountants and their purchasers.
Attempt Cointelli right now
Ranging from March 2022, accountants will be capable to take full benefit of Cointelli’s devoted ‘For Accountants’ service. To recap, this consists of:
- Compatibility with current tax software program
- An inexpensive, credit-based pricing mannequin
- A dashboard for easy consumer administration
- 24/7 help for accountants and their purchasers
- Extremely correct reporting
- Compatibility with a excessive variety of crypto exchanges
All of those options and extra make Cointelli a superb selection for accountants seeking to save time this tax season, and past. To be taught extra, visit Cointelli now to schedule a demo of Cointelli’s new ‘For Accountants’ service.
Take a look at Cointelli here and be taught extra about how this state-of-the-art software program might help you make sure that your purchasers pay all of their crypto taxes, and never a penny extra.