Verady, maker of the Ledgible cryptocurrency tax and accounting platform, has a partnership with the Minnesota Society of Certified Public Accountants (MNCPA), offering Ledgible Tax Pro to its members when working with crypto assets. Ledgible Crypto Tax Pro will help MNCPA members file for clients that answer 'YES' to the IRS Virtual Currency question.
By partnering with MNCPA, the availability of Ledgible Crypto Tax Pro is being expanded to more accountants and financial advisors that serve cryptocurrency investors seeking tax compliance. By providing Ledgible to MN CPAs, they can now offer their clients a suite of Ledgible products including Ledgible Crypto Tax Pro, tax preparation and reporting for cryptocurrencies. This will not only give the CPA's clients peace of mind by having accurate data for tax season but also make them aware of income resulting from crypto-asset transactions throughout the year.
Ledgible Tax Pro produces all reporting formats that are directly importable to filing systems such as Intuit, Thomson Reuters and Wolters Kluwer. Financial transactions are automatically updated from cryptocurrency exchanges every 15 minutes, so no manual data entry. The platform provides tax-ready reports of cost basis for each investment sold during the year, gains and losses on cryptocurrencies paid as goods or services, along with other income or capital gain reports.
Cryptocurrency investments are here to stay and it's important that advisors have a tool like this available.
Ledgible Crypto Tax Pro assists taxpayers and tax professionals in understanding which crypto assets may trigger a taxable event requiring them to file taxes on their gains or losses. If you're interested in utilizing the tax software, you can learn more here.
