He Raised $100 Million for Bitcoin and Crypto Taxes | Pomp Podcast #582
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This is an episode of The Pomp Podcast with host Anthony “Pomp” Pompliano and guest, Austin Woodward. He is the co-founder and CEO of Taxbit, the leading cryptocurrency tax software that recently raised $100 million from Tiger Global and Paradigm.
In this conversation, we discuss Taxbit’s product suite, tax loss harvesting, IRS, El Salvador’s bitcoin adoption, tax strategies of the rich, and cryptocurrency accounting software.
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Pomp writes a daily letter to over 140,000 investors about business, technology, and finance. He breaks down complex topics into easy to understand language while sharing opinions on various aspects of each industry. You can subscribe at /
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00:00 – Intro
00:11 – Raising $100M
00:31 – Retail users
02:05 – Doing business with the IRS
02:47 – Expanding beyond tax accounting
04:20 – Growth of Taxbit
05:24 – Tax implications of El Salvador’s bill
07:45 – Tax loss harvesting
13:16 – Democratizing tax accounting
14:07 – Crypto tax strategies
15:16 – Crypto robo-advisor
15:54 – Setting up in Salt Lake City and Seattle
18:22 – Miami and the Bitcoin Conference
19:19 – Hybrid remote work model
21:10 – What’s coming up for crypto and taxes
24:06 – Everyone needs tax accounting software
26:41 – Will people have one account or multiple?
28:14 – Challenges of building this business
34:18 – US tax laws vs other countries’ tax laws
37:37 – Pitch for retail users
38:54 – Pitch for enterprises
39:53 – Who are the investors?