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If you are transacting in, trading, or mining digital currency, you have likely triggered a taxable event. Our blockchain accounting software accurately calculates your gains and losses and whether a gain was short term or long term. We calculate the cost basis for every one of your digital currency transactions so you don't over-report your taxes.
Blockchain assets are a serious investment, that's why all of our services provide you with the details needed to make good decisions. If you are interested in incentivized blockchains, NODE40 offers a suite of services that makes running, managing and evaluating performance as simple and intuitive as possible.
As the Blockchain continues to grow, and currencies like Bitcoin and Dash increase in popularity, the tax liability associated with digital transactions is also growing. One of the most challenging aspects of these transactions has been trying to understand the tax liability inherent in the transactions themselves. Because the Blockchain, Bitcoin and Dash are so new, and because these technologies can sometimes move faster than tax law, understanding how to properly interpret and calculate your taxes has been rather complex. We built NODE40 Balance because we ran into this problem ourselves. Folks on our team had sizable ledgers of Bitcoin and Dash transactions, and as we attempted to understand our tax liability from these transactions it became clear that it wasn't easy to figure out. And furthermore, if we could figure out how to calculate blockchain tax liability correctly, we could help other people do the same.
NODE40 Balance was built to help people clarify their tax questions and liabilities. Our software takes in your personal ledger of Bitcoin and Dash transactions, requests clarification for any complex transactions, and then calculates your gains and losses. Once this process has completed you'll have a very clear snapshot of your Bitcoin or Dash gains and losses in a format that you can provide to your accountant, and if you're in the US we'll generate IRS Form 8949 that you can give your accountant directly, making the process as simple as possible for you.
