Ledgible offers a 5-star ranking for institutions, businesses, and investors who need a crypto data solution.
As crypto gains acceptance and attention around the world, the focus and scrutiny of regulators will increase. Tax payment for crypto is mandatory in most countries, with no global regulation for cryptocurrency, leaving many investors and institutions to fend for themselves.
Although crypto tax rates vary around the world, most nations have imposed taxes on crypto. Trading crypto, using it to pay for goods or services, owning it as an investment, or using it in any other way all have potential tax implications. Delays in tax payments can also result in tax penalties, urging everyone to meet their crypto tax obligations as soon as possible.
But how can you calculate your tax debt? If you are a day trader, an institution, a company or a regular investor, it is very difficult to calculate your tax liability with thousands of transactions without help.
That’s where Ledgible’s platform comes in to save the day. With Ledgible, the crypto tax calculation process is simplified and performed automatically in the application, which can process taxes for individuals, entire tax firms with hundreds to thousands of clients, and even at the institutional and corporate level for crypto trading companies.
What is Ledgible?
Readable was founded in 2016. The platform was developed by a team of crypto and tax experts with the goal of simplifying crypto taxation. The Ledgible platform works globally for accounting, while its tax products focus on US tax law but can be adapted to other countries’ tax laws if required.
Ledgible is a United States-based cryptocurrency accounting and tax solutions platform developed by Ledgible’s specialists for professionals, businesses and crypto investors. Ledgible offers its customers an industry-leading crypto tax solution.
The platform offers two primary platforms that focus on different user areas, taxes and accounting. The Ledgible crypto tax platform easily determines and calculates crypto obligations for users. It automatically provides a basic set of data such as wallet balances, capital gains, losses, and exchange orders.
Additionally, it is one of the few platforms that is SOC 1 & 2 Type 2 audited, meaning it is one of the safest tools out there. The company just closed a $20 million Series A funding round in June 2022 to expand its tax and accounting platform with a focus on cryptocurrencies.
The company will use the fundraising round to strengthen its position as the bridge between conventional finance and cryptocurrencies, and to provide cryptocurrency investors and traders with a clearer picture of tax reporting and portfolio management.
“Ledgible offers live support for every client, from the smallest investor to the largest institution. Aggregating, normalizing and injecting crypto data into your workflows doesn’t have to be difficult – Ledgible has you covered.”
Trevor English, Vice President, Ledgible
What does Ledgible offer its users?
Ledgible Crypto Tax offers a range of reports for both individual investors, tax advisors and companies dealing with customers. Users can also use it for simple records to keep track of their crypto holdings throughout the year. These are Ledgible’s three main products.
- Ledgible crypto tax for individuals
It is a tax product aimed at individual taxpayers. This offer is available to anyone who needs to file taxes on their cryptocurrency holdings. Sophisticated manual input, file import, and API options allow users to add their data sources, making it more powerful than many of Ledgible’s competitors.
Ledgible also offers an up-to-date annual plan and a crypto portfolio dashboard. It allows annual crypto activity to be monitored and tracked by analyzing asset holdings and disposals. Even better, crypto tracking with Ledgible is 100% free. You only pay for the tax reports during tax season.
It allows users to add crypto transactions from any wallet or exchange. Additionally, you can add your natively supported wallets and exchanges via the API integrations. This enables automatic transaction synchronization.
- Ledgible Crypto Tax Pro
This product is intended for use by tax professionals, accountants and law firms. The platform allows tax professionals to quickly collect client information, generate reports and manage tax returns in one simple tool.
It effectively offers tax professionals and accounting firms the ability to have direct access to all readable crypto tax reports used by their clients, a certain functionality that no other crypto tax product offers. This process aims to make the crypto tax filing process as easy as possible for CPAs, accountants, and tax professionals.
- Ledgible Crypto Accounting
Ledgible Accounting simplifies cryptocurrency bookkeeping and corporate governance. It offers a variety of reports for every situation, from asset balances to profit or loss reports. These reports include capital gains and losses, transaction downloads, OFX reports, exchange orders, and wallet balances.
It also has integrations with all tax and accounting software (Quickbooks, Xero, TurboTax, UltraTax, CCH Axcess, etc.)
Ledgible Accounting is also used by some of the nation’s largest institutions and fintech providers such as FIS, Thomson Reuters and major US banks.
Ledgible products have variable prices. All three services have different prices based on user needs.
Users can use this product for free all year round. Users get free access to all features of the product. You are only charged if you need to view or download your reports. Crypto tax starts at $49 for tax annual reports and up to 200 transactions.
The price depends on the number of transactions. Users can access 200-1000 transactions for an additional fee of $50 and an additional fee of $100 for each set of 2500 transactions over 1000.
Businesses can try this service for free for 30 days. After the trial period, if the companies are satisfied and want to move on, the Ledgible team works to create a customized plan to meet the needs of the users.
Crypto tax professional
This crypto tax platform for professionals offers tax professionals both paid and free plans. It allows accountants and businesses to offer their crypto consulting and tax planning services on top of the standard crypto tax filing. To get started, tax professionals only need to fill out this form.
“Ledgible’s crypto tax and accounting platform offers best-in-class crypto reporting – which is why it’s trusted by some of the world’s largest institutions. The best part? Whether you are an individual investor, a tax professional or a leading institution, we have a solution for you.”
Holly Swirtz, Vice President of TAP Sales
Analyzing and evaluating each transaction for tax reporting is a nuisance if you are a crypto trader, tax professional, institution or investor and do not have the support of platforms like Ledgible. Ledgible’s easy-to-use platform helps tax professionals, taxpayers, and corporations collect, normalize, and understand crypto data for tax reporting.
Ledgible also works with leading financial players including FIS, US Bank, FISERV, Thomson Reuters and Silvergate. Ledgible should be your first choice if you’re looking for a platform that can track your transactions, generate reports, and protect your data.
Numerous exchanges, blockchains, wallets and accounting systems are supported by Ledgible. The whole list is here.
You can get transparent reporting of the gains and/or losses you experienced during the tax year by using Ledgible Crypto Tax.
Along with CCH Axcess and all other key professional tax tools, Ledgible Crypto Tax Pro offers native connections to Thomson Reuters UltraTax, GoSystem and other tax software providers.
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