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TaxBit Reviews & Product Details

Designed by CPAs and tax attorneys, TaxBit is the leading tax and accounting solution for the tokenized economy. TaxBit's platform serves the industry's top exchanges, institutional investors, governments, and individuals. TaxBit has raised over $230 million from the world's top investors in order to enable the widespread adoption of digital assets by automating the regulatory tax and accounting compliance hurdles at scale. TaxBit has HQs in Salt Lake City and Seattle.

Seller

TaxBit

Product Description

TaxBit’s cryptocurrency tax software was developed by industry leading blockchain CPA’s and cryptocurrency tax attorneys. TaxBit allows you to easily connect over one hundred cryptocurrency exchanges to your TaxBit account, run your transactions through the U.S. tax code, manage your portfolio with the most advanced crypto portfolio tracking analytics, produce a full audit trail showing exactly how gains/losses are calculated, claim the capital loss deduction, and produce your IRS 8949 cryptocurrency tax forms.

Overview by

Michelle O'Connor

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TaxBit Media

TaxBit Demo - Real-time tax functionality embedded in your platform

Your users will enjoy tax visibility in real time, that tracks their taxes as they take action, and they'll be empowered with our automated tax-loss harvesting, which triggers transactions that will save them money.

TaxBit Demo - Get more visibility into your holdings

No more spreadsheets. Select from dozens of pre-templated reports, or create your own, to capture your asset position roll-forwards; journal entries; impairment charges; revenue recognition; trade performances; and more. Reports are easily exported in CSV format.

TaxBit Demo - US GAAP- and IFRS- grade entries mapped to your chart of accounts

The TaxBit Corporate Accounting Suite automates the journal entries and records of each of your transactions and corresponding calculations. Seamlessly map your chart of accounts to pre-configured digital asset transaction types.

TaxBit Demo - Systematically track intangible impairment accounting by asset

Tracking the book value of each of your assets according to US GAAP intangible accounting requirements is complex. We track point-in-time asset values to automate your book value calculations and corresponding journal entries for each period.

TaxBit Demo - Real-time insights at your fingertips

We support US GAAP and IFRS accounting methods, as well as IRS tax methods and more. Your accounting and tax books can now be automated all within one platform.

TaxBit Demo - A single system to manage your data and processes

Control your teams' access to data with role-based permissions, gather W-9 information in a non-intrusive manner, prove out the accuracy of every tax calculation with transaction-level audit trails, ensure your users' TINs are accurate to avoid backup withholdings, enjoy support for both electron...

TaxBit Reviews (11)

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Harsh R.

Small-Business (50 or fewer emp.)

1/21/2024

"Helps To optimize Cryptocurrency Tax reports"

4.5/5

What do you like best about TaxBit?

It helps to optimize the tax liabilities with its intelligence strategies and insights. The automatic import of transactions helps to reduce the error in tax report calculation. It provides tools to optimize the tax reports' liabilities. Review collected by and hosted on G2.com.

What do you dislike about TaxBit?

the platform is a little difficult for those who are new to cryptocurrency tax calculation. Review collected by and hosted on G2.com.

Aiyu T.

Mid-Market (51-1000 emp.)

7/27/2023

"Empowering the tokenized economy with cutting edge tax and accounting solutions"

5/5

What do you like best about TaxBit?

It's trusted and used by top exchanges, institutional investors, government and

individual in the crypto currency space.

It's well equiped to handle the complexities of cryptocurrency tax reporting and compliance accurately Review collected by and hosted on G2.com.

What do you dislike about TaxBit?

It's the leading tax and accounting solution designed by CPAs and tax attorneys. Review collected by and hosted on G2.com.

Gufran A.

Application support Engineer.

Small-Business (50 or fewer emp.)

5/12/2023

Business partner of the seller or seller's competitor, not included in G2 scores.

"For best result to ensure to providing the product"

2.5/5

What do you like best about TaxBit?

I would to it's services very much due to other e-commerce product website services. It is realaible to ensure product costing services to makes clients happy and loyal for the service determination. Review collected by and hosted on G2.com.

What do you dislike about TaxBit?

Nothing to dislike in taxbit for me but it's product charges at high cost due to other e-commerce website products so that is the some unconsious issue is often to dislike of it. Review collected by and hosted on G2.com.

Divya J.

manager

Mid-Market (51-1000 emp.)

7/4/2023

"Taxbit for powerful tax calculation"

3.5/5

What do you like best about TaxBit?

Navigating through the software is a breeze, even for users who may not have a deep understanding of tax regulations Review collected by and hosted on G2.com.

What do you dislike about TaxBit?

pricing structure may be a consideration for some users. The software offers tiered pricing plans based on the complexity of the tax situation and the number of transactions. It is more suitable for users with a high volume of crypto transactions Review collected by and hosted on G2.com.

Gaurav B.

HPC Systems & Software Engineer

Small-Business (50 or fewer emp.)

2/16/2023

"Tax bit reveiw"

4.5/5

What do you like best about TaxBit?

Easyness of submitting tax form and my asset allocation and insights on my whole assets in one platforms.Also the feature of crypto asset management is also amazing. Review collected by and hosted on G2.com.

What do you dislike about TaxBit?

There is nothing I disliked much about tax bit but one improvement I can suggest is that along with asset management and easyment in submitting the tax if I could have option of assest buying too that will be helpful Review collected by and hosted on G2.com.

James B.

Technology Director

Small-Business (50 or fewer emp.)

6/13/2022

"Easy to use crypto tax platform"

4/5

What do you like best about TaxBit?

- Great functionality while remaining easy to use.

- Connects via API to major US exchanges.

- Support is very responsive and helpful.

- Now supports unlimited transactions for all plans. Review collected by and hosted on G2.com.

What do you dislike about TaxBit?

- Can be somewhat confusing if you use an alternative wallet that's not supported.

- Can have issues uploading large CSVs. However, as I mentioned their support team is very responsive.

- CSV uploads in general can be very quirky. Sometimes an upload appears to complete successfully, but only actually imports a portion of the transactions. Review collected by and hosted on G2.com.

What problems is TaxBit solving and how is that benefiting you?

If you trade cryptocurrency more regularly, especially if you use multiple exchanges and private wallets, you'll need some sort of tax software to accurately calculate your long- and short-term capital gains. TaxBit makes it relatively easy compared to other tools I've tried over the past couple years. Review collected by and hosted on G2.com.

Arun G.

Senior Team Lead

Enterprise (> 1000 emp.)

7/19/2022

"The Best Crypto Tax Software"

4.5/5

What do you like best about TaxBit?

The Best about this product is, It has the best responsive customer Support. It makes the crypto tax-filing process much easier. The best part is it gives an immutable audit trail. It also eases the issuance of 1099s for exchanges. Review collected by and hosted on G2.com.

What do you dislike about TaxBit?

The least helpful part of this is CSV file parsing that could improve (manual formatting only). It has Limited options for Auto Sync and reporting functionality. Apart from these, it's the best Tax filing Product. Review collected by and hosted on G2.com.

Thirumeni K.

Senior HR

Mid-Market (51-1000 emp.)

5/31/2022

"The Best Tax Optimizer and Manager"

4/5

What do you like best about TaxBit?

The Best part of this TaxBit is the API integration is easy with the native platform. It has instant automation. When compared with competitors it's the best in the industry. This is the most reliable and trusted application. Review collected by and hosted on G2.com.

What do you dislike about TaxBit?

There is nothing big to dislike about the product, The cost-wise of the product is high. There are few tax calculations that are not available so we need to do manual calculation for those taxes. Review collected by and hosted on G2.com.

Verified User in Automotive

Small-Business (50 or fewer emp.)

7/6/2022

"Ease of taxes tracking on crypto using taxbit"

4/5

What do you like best about TaxBit?

Strong customer service support. Available any time over live web chat or by email, TaxBit's service team is highly praised for responsiveness and helpfulness by me and my team at the organization Review collected by and hosted on G2.com.

What do you dislike about TaxBit?

The CSV file parsing could improve a lot, there is option for manual formatting only.

Limited options available for Auto-Syncing and reports generation for functionality. Review collected by and hosted on G2.com.

Recommendations to others considering TaxBit:

TaxBit offers versatile and highly-responsive customer support features — reps may be contacted via live chat or email for fast assistance, with some tickets escalated to CPAs and attorneys. Review collected by and hosted on G2.com.

What problems is TaxBit solving and how is that benefiting you?

TaxBit makes it easy to upload and view cryptocurrency data in real-time and enables seamless connection to over 100 cryptocurrency exchanges. My team in organization can visualize each crypto transaction at our fingertips. Review collected by and hosted on G2.com.