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Recap from OST LIVE with Zac McClure, Co-Founder at TokenTax — Crypto Tax Best Practices in 2019
It’s tax season in the U.S., and we’ve all been made well aware that cryptocurrencies are taxable. Exchanges such as Coinbase have released crypto tax reporting tools to help users file their gains and losses. Zac McClure, co-founder of TokenTax, joined us to provide a global perspective on crypto tax regulations as well as common practices for U.S. taxpayers. TokenTax files cryptocurrency capital gains and income taxes for clients and supports more than 30 cryptocurrency exchanges.
McClure graduated with a degree in international finance from the University of Southern California and received his MBA in finance & strategic management from rhe Wharton School He began his career in investment banking as an analyst at J.P. Morgan. He later worked as a mathematics teacher in New York, teaching financial literacy to inner-city high school students.
Before co-founding TokenTax, McClure worked in impact capital a at Bain & Company. He also worked in Africa and India doing corporate and legal structuring, helping nonprofits become self-sustaining social enterprises. After attending several cryptocurrency meetups in the New York City area, McClure met Alex Miles, whom was working on a platform to help people file their crypto taxes. It started as a platform for connecting to Coinbase. McClure joined Miles in co-founding TokenTax to add functionality and democratize access to knowledge that only private wealth managers or private accountants would be aware of, such as specific-shares accounting and tax-loss harvesting. In 2017, McClure and Miles co-founded TokenTax to provide cryptocurrency tax solutions for a much lower price.
The content in this blog post is not to be taken as financial advice.
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