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What is Taxoshi?

If you've participated in any transactions involving digital currencies, such as buying, selling, or earning them during a specific tax year, it's very probable that you'll need to disclose any resulting gains or losses on your tax return. Should you have any doubts about what is required of you, seeking guidance from the Inland Revenue or your tax professional is recommended. In New Zealand, digital currencies are regarded by the Inland Revenue as a type of property. Their cryptocurrency taxation guidelines dictate that you must evaluate profits or losses based on the First in First Out method, with values converted to New Zealand Dollars at the time of each transaction, even when dealing with various cryptocurrencies. This evaluation can be intricate and may take several days to navigate, particularly if you have multiple trades. In the event that you have suffered a loss, you may be able to offset that against your income tax, which can offer some financial relief. To ease this burden, our sophisticated algorithms can automate the necessary currency conversions and accurately calculate your trading and mining gains and losses in accordance with the guidelines set by the Inland Revenue. By simply supplying your exchange records and mining addresses, we take care of the entire process, ensuring that you remain compliant and precise in your reporting. Ultimately, this allows you to concentrate on growing your investments without worrying about tax-related complications. Additionally, our service provides peace of mind by ensuring that all calculations are done accurately and efficiently, leaving you free to enjoy your ventures in the digital currency space.

What is Koinly?

Simplify your tax reporting process with Koinly, a tool designed to ensure accuracy and reliability; just link your exchange accounts or public addresses, and Koinly will handle the calculations of your capital gains, ultimately producing a tax report ready for the next filing season. The final report provided is approved by tax agencies, making it straightforward to print and submit. Koinly offers a comprehensive accounting and tax reporting solution tailored for cryptocurrency enthusiasts, investors, and accountants alike. With an impressive range of over 700 integrations, Koinly is compatible with upwards of 400 exchanges, 100 wallets, and more than 170 blockchains, enabling users to maximize their cryptocurrency capital gains effectively. You can consolidate all your transactions in one convenient location, eliminating the hassle of switching between various wallets and accounts. By easily syncing your data with Koinly, you gain a clear overview of your entire trading history. Tracking your cryptocurrency assets and associated tax obligations is effortless, as you can monitor your total holdings and portfolio growth over time across all your wallets and exchanges, alongside your tax responsibilities. Additionally, Koinly equips you with tools to identify and resolve any discrepancies in your transactions, helping to eliminate the headache of unexpected gains and erroneous tax reports. With Koinly, you can confidently preview your capital gains and tax obligations for free before generating the necessary tax documentation.

Media

Media

Integrations Supported

Bitstamp
Binance
Easy Crypto
Exodus
Independent Reserve
Kraken
Poloniex
Argent
BTCC
Bitkub
CEX.IO
Fantom
Hotbit
Shapeshifter
TaxAct
Vauld
bitcoin.de

Integrations Supported

Bitstamp
Binance
Easy Crypto
Exodus
Independent Reserve
Kraken
Poloniex
Argent
BTCC
Bitkub
CEX.IO
Fantom
Hotbit
Shapeshifter
TaxAct
Vauld
bitcoin.de

API Availability

Has API

API Availability

Has API

Pricing Information

$99 per tax year
Free Trial Offered?
Free Version

Pricing Information

Free
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Taxoshi

Date Founded

2014

Company Location

New Zealand

Company Website

taxoshi.com

Company Facts

Organization Name

Koinly

Date Founded

2018

Company Location

United Kingdom

Company Website

koinly.io

Categories and Features

Crypto Tax

Automated Data Import
Exchange Integration
Export Transactions
Historical Prices
Income Overview
Margin & Futures Support
Profit & Loss / Cap Gains
Staking / Lending / DeFi Support
Tax Form Generation
Tax Loss Harvesting
Wallet Integration

Categories and Features

Corporate Tax

Compliance Management
Data Import / Export
Data Verification
Electronic Filing
Exception Notification
For Nonprofits
For Partnerships
K-1 Reporting
Payroll & Employer Forms
Status Tracking
Tax Planning

Crypto Tax

Automated Data Import
Exchange Integration
Export Transactions
Historical Prices
Income Overview
Margin & Futures Support
Profit & Loss / Cap Gains
Staking / Lending / DeFi Support
Tax Form Generation
Tax Loss Harvesting
Wallet Integration

Tax Practice Management

Approval Process Control
Billing & Invoicing
Client Management
Client Portal
Document Management
Due Date Tracking
Scenario Planning
Tax Filing
Tax Forms
Workflow Management

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