RATE Group | Thomson Reuters Partners With Verady On Tool To Tackle Crypto Taxes
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Thomson Reuters Partners With Verady On Tool To Tackle Crypto Taxes

23 Dec Thomson Reuters Partners With Verady On Tool To Tackle Crypto Taxes

Posted at 20:40h in Cryptocurrency News by

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Thomson Reuters, the multinational media conglomerate, announced on Dec. 19 a partnership with Verady, a firm that specializes in the accounting and reporting of cryptocurrencies and blockchain assets. The two companies will collaborate on bringing a new cryptocurrency tax tool to market.

Thomson Reuters GoSystem Tax RS product will soon include a “Virtual Currency Organizer” for individuals reporting cryptocurrency transactions on tax form 1040. According to Thomson Reuters, the tax tool will serve as a single point of data entry and review for virtual currency transactions including exchanges, forks, purchases and payment for services rendered.

This will provide accounting professionals with the correct data necessary when helping clients reconcile cryptocurrency transactions. Moreover, users of Varady’s Ledgible blockchain accounting platform will be able to create reports that are ready for Thomson Reuters’ GoSystem Tax and Ultra Tax products.

Kell Canty, CEO of Verady,…

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