10XTS has entered into a formal advisory role with Washington D.C.-based TaxToken.io. We will be providing the TaxToken team with strategic guidance on the launch of their token sale and product through our xtsConnect services.
TaxToken is the first company to leverage blockchain technology with artificial intelligence to modernize personal accounting. The TaxToken team noticed serious problems with tax filing methods. The current way of doing taxes is time consuming, costly, and outdated. As a result, taxpayers often default to the standard deduction, which means they may not be taking full advantage of the tax code to maximize their refund.
TaxToken believes taxpayers have the right to pay only their legal due of taxes. Taxpayers shouldn’t have to keep a meticulous record of receipts or hire expensive accountants to pay only their fair share of taxes, nor should they be left with overestimating their tax burden through the simple, standard deduction. TaxToken offers taxpayers an automated, intuitive solution to pay just the amount of taxes they owe and maximize the earnings they deserve.
The TaxToken suite, using a patent-pending processes, will provide users with the essential tools they need to save both time and money. Through integration with smart cards, mobile phones, wallets, and exchanges, TaxToken will autofill users’ tax forms.
For many people taxes can be frustrating and complicated. Advances in blockchain technology eliminate these frustrations. The emergence of triple entry bookkeeping and the decentralized, distributed ledgers intrinsic to the blockchain will re-define personal accounting and tax filing methods.
TaxToken’s vision is a secure, precise, and automated tax preparation process. From daily transactions–like capital gains/losses and itemizing deductions–to more unique financial events–like selling your house or paying for college–TaxToken can help.
To learn more about TaxToken and download the whitepaper, visit their site.