- Binance announced the launch of Binance Tax, a crypto tax calculating tool.
- The tool helps estimate the user’s crypto tax liabilities at zero cost.
- The crypto calculator is user-friendly and gives accurate data.
The world’s leading blockchain ecosystem Binance officially announced the launch of Binance Tax, a crypto tax calculator that helps estimate and comprehend the user’s crypto tax liabilities “at no cost”.
Notably, on February 6, Binance posted the updates of the new tool on its official page that focuses on simplifying the “confusing, cumbersome, and time-consuming processes” involved in tax filing and calculation.
Interestingly, the platform details the difficulty of the computation of tax, commenting:
Scouring a spreadsheet and computing all your transactions, gains, and losses throughout the past year can be, well, taxing. For day traders, who normally deal with thousands of transactions yearly, this means putting in extended hours and stress to ensure the accuracy of their filings come tax reporting time.
As per the blog, the Binance Tax helps calculate the crypto tax liabilities of up to 100,000 Binance transactions. It is…
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