Koinly vs Taxfyle
Side-by-side comparison — pricing, features, ratings, use cases. Find which Tax Software fits you best.
🔍 Independently researched ·
📊 Data-driven
59/100
Free tier
Crypto traders and investors in supported countries who need reliable, automated capital gains and income tax reports an
★ Best
💰 Pricing
🆓 Free tier available
Free plan includes up to 10,000 transactions with unlimited tax reports, but only for hobby users with limited support.
Starting at 2 277 Kč (tiered_fee)
Fee notes:
- Paid plans are annual only, but charged in a single payment for the year.
- Discounted packages available for professional use (e.g., accountants).
- Additional fee for multi-user or CPA-specific features.
- Some countries have tax-specific add-ons (e.g., UK property income) at extra cost.
⚠ Watch for:
- No hidden fees, but pricing is per tax year, not subscription monthly; you must pay full annual fee even if you sign up midway.
- If you exceed transaction limits, you must upgrade to a higher tier or pay for additional transaction packs (cost varies).
- International payment fees may apply depending on your bank or card.
🔧 Features
✓ Crypto Focus✓ 400 Exchanges✓ 20 Countries✓ Capital Gains✓ Tax Reports✓ Free Tier
📋 Assessment
💪 Strengths
- Auto-import from 400+ exchanges and wallets: Koinly's ability to automatically pull transaction data from a vast array of sources is its standout feature. This includes major exchanges like Coinbase, Binance, and Kraken, as well as hardware wallets like Ledger and software wallets like MetaMask. For users with a long trading history across multiple platforms, this saves dozens of hours of manual CSV export and formatting, making the initial setup significantly faster and less error-prone.
- Country-specific tax reports: Koinly generates tax reports tailored to the tax authorities of over 20 countries, including the US (IRS Form 8949/Schedule D), UK (SA108), Germany, and Australia (ATO). This is a major advantage for international users who need accurate, locally compliant reports. The software automatically applies correct cost basis methods (FIFO, LIFO, etc.) based on the country's regulations, reducing the risk of underreporting or penalties.
- Accurate handling of complex transaction types: Koinly correctly categorizes and calculates tax for various crypto events beyond simple trades, such as airdrops, hard forks, staking rewards, and mining income. This is crucial in a landscape where such activities are common and often overlooked by manual calculation. The platform also handles loans and margin trading, classifying them appropriately as income or capital gains, which is a nuanced area many competitors oversimplify.
- Tax-loss harvesting support: Koinly includes a tax-loss harvesting feature that identifies losing trades to offset capital gains, potentially reducing your tax liability. This is a valuable planning tool that sets it apart from some basic calculators, allowing users to minimize taxes legally. It also provides a clear overview of unrealized and realized gains, making it easier to strategize during the year.
- Free plan for tracking: While the free plan doesn't allow you to download tax reports, it does let you sync your transactions and view your portfolio's estimated gains and losses. This is useful for getting a high-level view of your tax situation without paying, and it can help you decide if the platform is right for you before committing to a paid plan.
⚠ Watch out for
- Cost escalates with transaction count: Koinly's pricing is based on the number of transactions, with the paid plans starting at $49/year for up to 1,000 transactions. For active traders with thousands of trades, the cost can quickly rise to $99/year (up to 10,000 transactions) or $199/year (up to 25,000 transactions). High-volume traders may find this pricing model expensive compared to some competitors that offer flat-rate subscriptions, though the automation often justifies the cost in saved time.
- Free plan lacks downloadable reports: The free plan only provides a summary of your portfolio performance; you cannot download the actual tax report forms needed for filing. This means you must upgrade to a paid plan to get your tax documents, which can be a disappointment for users who just want to estimate their taxes or have a small number of transactions.
- Manual adjustments for complex DeFi: While Koinly supports many DeFi protocols, some complex smart contract interactions—such as yield farming, liquidity provision, or multi-step swaps—may not be automatically recognized and could lead to incorrect calculations. Users may need to manually edit or categorize these transactions, which requires a learning curve and can be time-consuming. In some edge cases, the auto-import might even classify a transaction incorrectly, leading to a need for careful review.
- Limited customer support on lower tiers: Koinly's customer support is primarily via email and live chat, but live chat is only available on higher-tier plans. Free users and those on the Hobby plan may have to wait longer for email responses, and some users report slow resolution times for complex queries. The knowledge base is extensive, but if you're stuck, the premium support might feel like an additional cost to consider.
🎯 Best for
Crypto traders and investors in supported countries who need reliable, automated capital gains and income tax reports and want to import data from many exchanges without manual entry.
🚫 Who should skip
Users who only trade on centralized exchanges with simple buy/sell activity and want a completely free tax report, or those needing tax-loss harvesting optimization and investment advice.
📚 Learning curve
Minimal — import data, review flagged transactions, and generate reports; the interface is straightforward, though understanding tax rules and fixing every invalid transaction may take time.
🧑⚖️ Verdict
Koinly is a robust, user-friendly crypto tax calculator that excels at automation and international tax compliance. It's ideal for traders with multiple exchanges who want to save time and are willing to pay for ready-to-file reports. However, if you're a high-volume DeFi user or on a tight budget,
52/100
Free tier
Individuals and small business owners who want a licensed human tax professional to handle the paperwork but still want
💰 Pricing
🆓 Free tier available
Basic DIY filing for simple returns; no professional support
Starting at 897 Kč (hybrid)
Fee notes:
- Per-filing cost: $39 for simple federal and state returns (Basic DIY)
- Professional plan: $119/month billed annually; includes tax prep and filing
- Business plan: $99/month for bookkeeping and tax prep; additional fees for corporate tax filings
- Payroll services: additional $50/month (if required)
- VAT (sales tax) filing: additional $25 per filing
⚠ Watch for:
- Complexity fee: $99 additional if your return is more complex than basic
- State filing fee: $35 per state (in addition to base price)
- Bookkeeping add-on: $50/month extra if not included in plan
- Late filing penalties: up to $250 if deadlines missed
🔧 Features
✓ Tax Pro Network✓ Mobile App✓ Tax Prep✓ Bookkeeping✓ Advisory✓ Consumer Business✓ Free Tier
📋 Assessment
💪 Strengths
- Access to licensed CPAs and tax professionals: Instead of relying on algorithms, you get a real expert who can handle nuanced tax situations. This is crucial for people with investments, side hustles, or rental properties, where a chatbot might miss deductions. The pros are vetted and licensed, giving you peace of mind.
- Mobile app convenience: The app is the backbone of the service, allowing you to upload documents securely, chat with your pro, and track e-file status all from your phone. This is huge for busy professionals who are always on the go. You can snap photos of your W-2s and send them instantly, avoiding the hassle of scanning or faxing.
- Wide range of services: Taxfyle covers individual tax prep, business taxes, bookkeeping, and advisory. This means you can start with tax prep and expand to year-round bookkeeping without switching platforms. For small business owners, this is a one-stop-shop that can save time and reduce complexity.
- Secure chat and document handling: The app's secure chat feature allows you to ask questions and get answers without scheduling a call. All documents are stored and transferred securely, which is critical for sensitive financial data. This feature also creates a written record of your communication, which can be useful for reference.
- Transparent e-file status tracking: You can see exactly where your return is in the process, from preparation to submission to acceptance. This reduces anxiety and keeps you informed, something that traditional tax software often lacks.
⚠ Watch out for
- Pricing transparency: The final cost is not clear upfront. You give your information, and then you get a quote based on complexity and the pro matched. This can lead to sticker shock, especially if you expected a fixed price. For example, someone might see the $39 starting price and assume that's what they'll pay, but a complex return could cost $200 or more.
- Inconsistent experience: Because you're matched with professionals from a network, the quality and communication style can vary. One pro might be extremely detailed and responsive, while another might be more terse or have a different approach. This inconsistency can be frustrating if you value a certain working style.
- Not ideal for simple returns: For straightforward tax filing (e.g., single W-2 employee with standard deduction), using Taxfyle is overkill. DIY software can do the job in minutes for free, and Taxfyle's costs and wait times are unnecessary. Users with simple returns should stick with cheaper alternatives.
- Potential for delays: Because you're working with a human, there's a risk of delays if the pro is busy or takes time to respond. The platform sets deadlines, but you might experience bottlenecks during peak tax season. If you're on a tight deadline, this can be stressful.
- No upfront list of pros: You don't get to choose your tax pro from a list. The platform matches you, which might not align with your specific expertise requirements (e.g., someone well-versed in crypto). While you can request a change, the initial match is blind.
🎯 Best for
Individuals and small business owners who want a licensed human tax professional to handle the paperwork but still want a modern, app-based experience.
🚫 Who should skip
People with very simple tax situations who want a free DIY software, and anyone who prefers an in-person relationship with an accountant rather than a virtual matched pro.
📚 Learning curve
Minimal — you upload documents, answer a few questions, and message your pro, but you still need to gather complete financial records.
🧑⚖️ Verdict
Taxfyle is a strong choice for individuals with complex tax situations or small business owners seeking year-round professional support via a mobile app. It's not for those with simple returns who can file for free. If you value human expertise and mobile convenience, Taxfyle delivers, but be prepar
📊 Use Case Suitability
Higher score = better fit. Scores from editorial review.
Use CaseKoinlyTaxfyle
US Tax Filing (IRS)95—
Koinly supports US tax laws, generates IRS-compatible reports, and integrates wi
UK Tax Reporting (HMRC)92—
Koinly provides HMRC-compatible capital gains and income tax reports, including
High-Volume Exchange Auto-Import90—
With 400+ exchange integrations and API auto-import, Koinly reduces manual data
DeFi and Staking Income Reporting88—
Koinly handles staking rewards, airdrops, and DeFi income as taxable events, mak
Non-Resident Crypto Tax Reporting85—
Koinly supports tax laws for over 20 countries, making it useful for expats or f
Individual Tax Filing—90
Taxfyle's core service connects you with a licensed pro to prepare and file pers
Small Business Tax Preparation—85
It covers business entities, self-employed income, and Schedule C filings, givin
Year-Round Bookkeeping—75
Taxfyle offers bookkeeping services, but it's more of a marketplace than a dedic
🧭 Which One Should You Pick?
Choose Koinly if...
- You are: Crypto traders and investors in supported countries who need reliable, automated capital gains and income tax reports an
- 👍 Auto-imports transactions from 400+ exchanges and wallets, saving hours of manual CSV work.
- 👍 Supports tax reporting for 20+ countries with country-specific forms and calculations.
- 👍 Accurately handles capital gains, income tax, and various transaction types including forks, airdrop
- 💰 From $99/mo
- ⚠ Trade-off: The free plan does not include downloadable tax reports, so you must pay to actu
Choose Taxfyle if...
- You are: Individuals and small business owners who want a licensed human tax professional to handle the paperwork but still want
- 👍 Access to a network of licensed CPAs and tax pros instead of praying a chatbot gets your deduction r
- 👍 The app makes document upload, secure chat, and e-file status tracking convenient from your phone.
- 👍 Covers a wide range of services: individual tax prep, business taxes, bookkeeping, and advisory.
- 💰 From $39/mo
- ⚠ Trade-off: Pricing is not fully transparent upfront; final cost depends on complexity and t
❓ Frequently Asked Questions
How much does Koinly cost?
Koinly offers a free plan with limited features and paid plans starting around $49 for tax reports, with pricing depending on the number of transactions and plan tier. The exact price varies by country and transaction volume, so you'll need to check the website for current quotes.
What are the limitations of Koinly's free plan?
The free plan lets you track transactions and see preliminary totals but does not include exportable tax reports. You need a paid plan to access full capital gains and income tax reports.
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