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TaxBit description
TaxBit is a software platform designed to automate tax and accounting processes for companies working with digital assets like cryptocurrency. It helps businesses stay compliant with tax regulations by automatically tracking transactions, generating tax forms, and integrating with existing accounting systems. Trusted by large companies and government organizations, TaxBit focuses on providing accurate and secure handling of financial data while offering a user-friendly experience.
Who is TaxBit best for
TaxBit helps automate cryptocurrency tax compliance with features like automated tax form generation and transaction importing. Users praise its user-friendly interface and integrations. However, some users report API sync issues leading to inaccurate tax forms. Best for small and medium businesses working with digital assets.
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Best for small to medium-sized businesses.
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Ideal for businesses managing cryptocurrency and digital assets.
TaxBit features
Supported TaxBit generates Form 8949 for cryptocurrency transactions. |
Supported TaxBit automatically generates 1099-B and 8949 tax forms. |
Supported TaxBit automatically tracks the cost basis of crypto assets for tax calculations. |
Supported TaxBit offers comprehensive and immutable audit trails for all transactions, ensuring data accuracy and compliance. |
Supported TaxBit imports cryptocurrency transactions from over 500 exchanges and wallets. |
TaxBit reviews
We've summarised 40 TaxBit reviews (TaxBit TrustPilot reviews and TaxBit G2 reviews) and summarised the main points below.
- User-friendly interface simplifies complex tax calculations for cryptocurrency.
- Automated tax form generation, especially form 8949, streamlines tax filing process.
- Integrates with major cryptocurrency exchanges for automatic transaction import.
- Responsive and helpful customer support (some experiences noted).
- Provides valuable insights and asset allocation analysis.
- API synchronization issues lead to missing cost basis, buys/sells, and other inaccuracies, resulting in incorrect tax forms.
- Lack of adequate customer support; unhelpful chatbot and canned responses, no phone number.
- Inconsistent data extraction from exchanges; missing transactions and assets, incorrect holdings displayed.
- Pricing is high, especially for the level of service provided; premium subscription does not guarantee support or issue resolution.
- Changes in platform and reduced services over time; unsupported file formats and lack of previous features.
TaxBit pricing
The commentary is based on 9 reviews from TaxBit G2 reviews and TaxBit TrustPilot reviews.
TaxBit's pricing is a frequent concern. While some users found the cost high, especially given recent service issues, others considered it reasonable for the features offered. Several users mentioned paying for premium services but not receiving adequate support or expected functionality.
Users sentiment
TaxBit alternatives
CryptotaxcalculatorCalculates crypto taxes simply, accurately, across all wallets & exchanges.Read more
TurboTax Self EmployedFile self-employment taxes easily, maximize deductions, and get expert help.Read more
TaxBit FAQ
TaxBit is a cryptocurrency tax software platform automating tax compliance for businesses. It tracks transactions, generates tax forms (like 8949), and integrates with accounting systems. TaxBit helps companies accurately manage digital asset taxes while offering a user-friendly experience.
What is TaxBit and what does TaxBit do?
TaxBit is a cryptocurrency tax software platform automating tax compliance for businesses. It tracks transactions, generates tax forms (like 8949), and integrates with accounting systems. TaxBit helps companies accurately manage digital asset taxes while offering a user-friendly experience.
TaxBit integrates with over 500 exchanges and wallets, enabling automatic transaction importing. It also connects with existing accounting systems to streamline tax form generation and reporting. This simplifies the tax compliance process.
How does TaxBit integrate with other tools?
TaxBit integrates with over 500 exchanges and wallets, enabling automatic transaction importing. It also connects with existing accounting systems to streamline tax form generation and reporting. This simplifies the tax compliance process.
Top TaxBit competitors include Cryptoworth, Avalara, Sovos, SoftLedger, Cryptio, and Vertex. These alternatives offer similar features for tax compliance and accounting, particularly for businesses working with cryptocurrency and digital assets.
What the main competitors of TaxBit?
Top TaxBit competitors include Cryptoworth, Avalara, Sovos, SoftLedger, Cryptio, and Vertex. These alternatives offer similar features for tax compliance and accounting, particularly for businesses working with cryptocurrency and digital assets.
TaxBit is a legitimate platform trusted by large companies and government organizations for cryptocurrency tax compliance. However, some users report API synchronization issues leading to inaccurate tax forms and express frustration with customer support. Consider these factors when evaluating if TaxBit is safe and suitable for your needs.
Is TaxBit legit?
TaxBit is a legitimate platform trusted by large companies and government organizations for cryptocurrency tax compliance. However, some users report API synchronization issues leading to inaccurate tax forms and express frustration with customer support. Consider these factors when evaluating if TaxBit is safe and suitable for your needs.
I couldn't find pricing details for TaxBit. For the most current pricing information, it's best to visit their website directly. This will help you decide if TaxBit is worth the cost.
How much does TaxBit cost?
I couldn't find pricing details for TaxBit. For the most current pricing information, it's best to visit their website directly. This will help you decide if TaxBit is worth the cost.
TaxBit's customer service receives mixed reviews. Some users praise the responsive and helpful support, while others report unhelpful chatbot responses, difficulty reaching live support, and unresolved issues. Several negative reviews mention canned responses and a lack of follow-up.
Is TaxBit customer service good?
TaxBit's customer service receives mixed reviews. Some users praise the responsive and helpful support, while others report unhelpful chatbot responses, difficulty reaching live support, and unresolved issues. Several negative reviews mention canned responses and a lack of follow-up.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.
An AI tool that observes your work, finds inefficiencies, and suggests smarter ways to do things. Maybe you can use your tools better, automate tasks, or switch software.