Blockchain firm Lukka joins RSM accounting to offer crypto tax solutions

As blockchain firm Lukka joins RSM accounting, crypto fans can certainly look forward to next-gen tax solutions. Tax in the times of COVID-19 can get really tough. The world’s leading financial institutions are struggling to resolve monetary blues, and auditing firms are going to have tough next few months.

In a sign of relief, blockchain-based tax solutions firms, Lukka has partnered with well-known U.S. based accounting brand RSM to offer tax solutions geared towards the crypto community. The partnership will result in RSM gaining access to Lukka’s crypto tax software. RSM enterprise and individual clients can use both the ‘Lukka Crypto Office’ and ‘LukkaTax for Professionals.’

Crypto tax season will be tougher in 2020

Jamison Sites of RSM says that the auditing firm was on the lookout for crypto tax firms to strike a deal that can help its clients resolve their crypto tax concerns. The latest agreement will reportedly help serve the tax preparation needs of RSM clients.

The auditing firm discussed the issue with Internal Revenue Service as well. After meetings with the IRS officials, it became clear that RSM clients would need additional help to prepare their tax applications, especially with regards to the upcoming crypto laws. As Lukka joins RSM, the complicated crypto tax calculations will certainly become easy for RSM clients.

RSM undertook an extensive study to evaluate various crypto tax software. Lukka’s software met the team’s objectives. The suite provides specialized crypto tax capabilities besides scalable infrastructure.

Lukka joins RSM after detailed discussions

It was in 2018 when RSM first engaged Lukka. An RSM client’s $20 million worth of crypto trades were to be analyzed for tax filing. The project was urgent, and the Lukka team proved worthy. Since then, the two brands have deepened their ties. After two years, Lukka joins RSM officially to work on meaningful crypto tax projects.

Besides tax software, Lukka recently launched an academic repository that focuses on crypto tax concerns. Lukka Library‘ contains vital academic information about crypto taxation matters curated by legal experts and crypto academicians.

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Gurpreet Thind

Written by Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.