p/beartax-cryptocurrency-tax-software
Bitcoin & Cryptocurrency Tax Software
Samarth Jajoo

BearTax — Calculate and file crypto taxes in simple and easy steps 💸

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BearTax is a trusted cryptocurrency tax software for individuals & CPAs, which provides seamless integration with various exchanges, intelligent matching of trades across exchanges, curated historical data for every coin, ability to review transactions while avoiding force sells/negative balances and provides you required tax documents.

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chris skillicorn
Could be a very useful resource given the lack of clarity in crypto regulations internationally - but how do you plan to support filing for different nations given the variety of different tax codes and laws? Also, considering the fact that daytraders would be most in need of this resource, and there's nothing between 999 and 100,000 transaction levels, maybe it would make sense to introduce a subscription option, a lower monthly fee that lets them keep an eye on their taxes as they develop, rather than doing it once yearly en masse and potentially being surprised by the figure.
Vamshi Vangapally
Thanks @chrisskillicorn, for now, we are giving a detailed CSV with taxable transactions, which users can upload into their local tax software or provide it to their CPA and file accordingly. Meanwhile, our BD team is working with CPAs and equivalent accounting professionals in various countries to understand their laws and enhance our platform to meet their needs. That's a great suggestion on making it easy for professional high volume traders to calculate month on month while keeping an eye on their tax obligation.
Angie
Love what you built here! What is your story behind BearTax?
Vamshi Vangapally
@angeliquesocial Our problem statement started with high volume trades, pricey tools and mismatch of withdrawals/deposits with those tools. Tried out several of them and few have refunded as their functionality was breaking. After trying everything out there on the market, we've decided to build our own solution around the end of January 2018 and built BearTax. "Make what people want" - Paul Graham, this is what we believed and worked for us. We've rolled it out to individuals with modest pricing starting $0.99 and live chat available for everyone without discrimination on pricing. Our major intention was to educate users on cryptocurrency taxes, usage of exchange integrations, making them feel safe while connecting APIs as it's only read access. Meanwhile, our business development team focused on building partnerships with CPAs to reach out to wider audience and building BearTax as a crypto tax suite. That's our story and we've had more than 300 happy customers on our platform and growing exponentially. We are a bootstrapped startup having revenues enough to cover operations this year. Thanks for asking and trying our platform :)
Angie
@vamshi4001 thanks for your reply. Good luck and congrats on your launch!
Dennis Mast

I'm a 1st year Crypto trader. Taxes were stressing me out. OMG no worries !

Pros:

So easy and painless! Great support. Walked me through it!

Cons:

Maybe add a performance tracker?

Vamshi Vangapally
@dennis_mast Sure Dennis, it's on our roadmap. We'll keep you posted when it's live.
Valerie DuVall
Great software with actual support!!! Made things super easy once we figured out a small glitch on my end.
Miyuru Fernando

Thanks for relieving the stress of crypto tax :)

Pros:

Super easy to use and supported all the exchanges I traded on.

Cons:

API integration for more exchanges.

Vamshi Vangapally
@miyurufernando Sure, we are working on integrating with more exchanges via API and also supporting margin trades. We'll keep you posted.
Siddharth Ramesh
Looks nice! What exchanges is it integrated with?
Vamshi Vangapally
Thanks @srameshrr BearTax is integrated with following exchanges: * Coinbase * Coinbase Pro * Gemini * Kraken * Bittrex * Poloniex * HitBTC * OKEx * Binance * KuCoin * Huobi * Coinspot * BTCMarkets * Independent Reserve * Coinjar * QuadrigaCX * Trade Satoshi * Cryptopia and more...
Colin Walsh

Direct sync for more exchanges / wallets would be helpful

Pros:

I purchased the $199 plan and it worked fine. Great product you've built

Cons:

No alternatives I've seen that are this easy for US tax prep

Vamshi Vangapally
@colin_walsh2 Thanks Colin! Glad we could help. Appreciate your feedback.
Bradley Carden

Glad I found this site to help process over a thousand transactions!

Pros:

API upload

Cons:

Chat isn't much help, and site seems slow but overall very useful

Vamshi Vangapally
@bradley_c Thanks Bradley for your feedback. We have bumped up our operations to provide 24x7 support. Hope to resolve your queries much faster the next tax year.
Jijo Sunny
Looks great! Congrats on the launch 🙌
Ben Ramirez

Very easy to use I love the product. Thanks for making it easy to be able to file my taxes

Pros:

API import

Cons:

Support more exchanges with API

Ed Burns
Saved me so much time by preparing my tax documents! Their customer support chat is also extremly helpful.
Kris Lawson
Awesome product! Would like to see some more API's added. Also the ability to review and edit transactions after fixing issues
James Regan
They do an incredible job of aggregating all of your trading data. I had over 7000 trades which they easily processed correctly. I will definitely use them again next year.
ERICA VOISIN

I needed something cheap to figure out cryptocurrency for taxes. This works good so far.

Pros:

Easy to Use

Cons:

None so far.

jagdeesh Karicherla
Would like to know Beartax vs others
Vamshi Vangapally
Thanks for asking @jagdeesh Short answer - it works without breaking :) Long answer: * An easy to use interface * 24/7 customer service * Free gain loss summary without a paywall * Handles huge volumes without breaking * Smart match of deposits/withdrawals across exchanges * Avoid force selling & consider only actual taxable events * No negative balances as we ask the user to review missing sources.
Valerie DuVall
@jagdeesh I will say support. The crypto space is full of companies that have 0 support - look at the exchanges that hold your money! They make millions yet no support. These guys are awesome!
Peter Halasz
Ok, that bear is too cute.
Ben Ramirez
I really like the import of API. Easy to use. Would not have been able to do it otherwise
Ganesh S
The product is very simple to use and very beneficial. Thanks
Kami Joy
More integrations coming soon!
connor paddon
Love it!