I’m Zac McClure, co-founder of TokenTax. After a 2-year stint in Investment Banking, I joined Teach For America where I taught math infused with personal finance and entrepreneurship – two passions that make up the foundation of TokenTax. Previously, I also worked for social enterprises around the world, as well as Imprint Capital, Bain, and Elsevier. I earned an MBA from Wharton, and also got my BA in Accounting from USC.
We love helping people understand crypto taxation as it’s very confusing with a lot of conflicting information. For instance, many people do not know that you can use crypto losses to offset income taxes or how taxation works when you use a DeFi project like Uniswap. Our space won’t get favorable regulation if we don’t get the taxes right! We work hard to teach clients about advanced tax topics such as accounting methods and tax-loss harvesting.
TokenTax is a tax and accounting platform for crypto investors worldwide. Since launching in 2017, we have processed over $500 million in assets and over $3 million in crypto transactions. TokenTax allows users to analyze their crypto tax liability using multiple accounting methods, including LIFO, FIFO, average cost, and specific shares. Our patent pending minimization algorithm identifies the accounting method that will result in the lowest possible tax liability.
Feel free to ask any questions you may have about crypto taxes in 2019. I will start writing responses in about 1-2 hours. I’m here to serve as a resource for the community!