Some people struggle with taxes at the best of times, and the rules around crypto have thrown a spanner in the works. Something like crypto tax accounting is just one of those things that makes a hard subject even more complicated, made worse by the fact that 61% of current crypto users are unaware of the new rules for reporting crypto gains brought in by the IRS.
Given that active crypto traders manage 2.5 wallets on average, you need services you can trust. However, there are some to choose from, and it can be a little overwhelming. What are the best platforms for managing wallets and ensuring you are compliant with taxes? From international reporting to mobile investing, here are some of the most popular platforms.
Crypto Tax Made Easy – best for personalized support
When you need complex crypto tax accounting simplified, Crypto Tax Made Easy stands out as one of the most accessible services around. As a specialist tool for investors, DeFi users, and NFT traders, it focuses on a more guided and human-focused experience than some others.
Standout features
- Personalized crypto tax features with help available for complex systems and stages.
- Support for handling more than one wallet with easy integration into exchanges.
- Easy to understand gain and loss calculations, reporting features, and tools.
Official website: https://cryptotaxmadeeasy.com/
Koinly – best for international crypto tax reporting
Used by customers in over 100 countries, Koinly is one of the most popular crypto tax platforms. It is widely regarded for its easy-to-use features, such as importing transaction data from multiple exchanges, wallets, and blockchains for a complete overview of international reporting.
Standout features
- A high level of support for over 800 exchanges and wallets all over the world.
- International tax reporting features with support for tax rules in over 100 countries.
- Automated classification for popular extra transactions such as DeFi and NFTs.
Official website: https://koinly.io/
CoinTracker – best for portfolio tracking and integration
Sometimes you need a single place for managing complex reporting. With CoinTracker, you can manage your crypto portfolio and tax obligations seamlessly from one platform. As such, the service easily integrates with major exchanges and automatically syncs balances in real time.
Standout features
- Excellent real-time portfolio tracking that syncs multiple balances and transactions.
- A clean and straightforward interface that belies the complexity of the software.
- Seamless and easy integration with other crypto and tax reporting tools.
Official website: https://www.cointracker.io/
TokenTax – best for high net worth investors
For all the beginner-friendly services around, there are also some platforms with advanced features for investors with more experience. TokeTax is one of the most popular with high net worth investors who manage complex crypto portfolios with more blockchain activity than most.
Standout features
- Full-service CPA and tax filing support provided by professional-level teams.
- Advanced features such as DeFi and derivatives, margins, and tax tracking.
- Professional support for filing taxes and assistance with compliance audits.
Official website: https://tokentax.co/
CoinLedger – best for beginner-friendly tax filing
There are tons of crypto tax accounting platforms that, while feature-rich, aren’t the best for beginners. Using a service like CoinLedger that is easy to understand will help you stay on top of your finances, especially when it comes to the complex world of crypto tax accounting.
Standout features
- Designed around newcomers to crypto with a user-friendly UI and experience.
- Can integrate with some of the most popular tax platforms and apps, such as TurboTax.
- Support for multiple complex systems beyond crypto, including DeFi, NFT, and staking.
Official website: https://coinledger.io/
CoinTracking – best for advanced analytics and reports
As one of the oldest crypto accounting services, CoinTracking is among the most widely respected. As such, it is among the favorites of crypto traders who need a few more features than most, including detailed and accessible data analytics and easily understandable reports.
Standout features
- Industry-leading portfolio analytics tools for gleaning the most accurate information.
- Highly detailed tax and trading report generation services for a clear breakdown.
- Professional-level support for historical data, such as high-volume transactions.
Official website: https://cointracking.info/
ZenLedger – best for industry professionals
ZenLedger is pretty much a dual-style service offering support for both retail investors and accounting professionals alike. Because of this, the services include specialist tools for accountants, tax professionals, and financial advisors who manage multiple portfolios.
Standout features
- Top-level client-facing features for improved management by accountants.
- Industry-standard enterprise compliance reporting features for meeting regulations.
- Built-in capabilities for dealing with tax losses, such as harvesting features.
Official website: https://zenledger.io/
Accointing – best for mobile crypto investors
On-the-go banking and investing are more popular than ever, and platforms like Accounting are leading the industry into a new future of mobile crypto. With a mobile-friendly interface and intuitive dashboard, the service helps you manage portfolios and tax reports from anywhere.
Standout features
- Portfolio and tax management features with a UX and UI designed around mobile.
- Automatic transaction syncing for easy real-time access to the data you need most.
- Built-in and easily understandable portfolio data analytics tools and features.
Official website: https://www.blockpit.io/lps/accointing
TaxBit – best for enterprise regulatory compliance
A major player in crypto tax reporting, TaxBit is one of the most trusted by investors, businesses, and governments. With a focus on enterprise compliance, TaxBit helps you meet changing regulations while managing a portfolio of crypto assets across multiple jurisdictions.
Standout features
- Enterprise-level compliance infrastructure built directly into the system.
- Easily accessible real-time transaction accounting for the most recent data.
- Institutional and government reporting solutions are baked into the platform.
Official website: https://www.taxbit.com/
Summary
You can try platforms such as Crypto Tax Made Easy for user-friendly crypto tax accounting with most of the features you need. However, services and platforms like CoinLedger offer simplified and beginner-friendly dashboards and features. Of course, you may need something more robust for ensuring compliance across enterprises. In this case, it would be best to check out the professional-grade features offered by government-trusted platforms such as TaxBit.