Hedger vs Taxomat

How we compared

In April 2026 we set up fresh accounts in both tools and uploaded the same broker exports to both — IBKR, Degiro, Fio, Trading 212. We applied identical settings on both sides: FIFO, cross-broker pairing, unified yearly FX rate, and the option-premium-into-stock-cost transfer turned off. Then we walked row by row through every single trade, every option contract and every dividend — thousands of transactions in total. For the totals, we primarily compared 2024 and 2023.

What we found — comparison results

On our data data, Hedger and Taxomat agree to the koruna in the totals. We did find a few minor differences, but they are things that don't change the final tax liability, specifically:

• Stocks (§10 D) — match
• Options (§10 F) — same tax base, but a small difference in income and expenses: Taxomat treats premium income from sold puts as net of fees, while Hedger takes the full premium and counts fees separately as expenses. The amounts are typically cents, but for someone with thousands of trades they can add up. We think Hedger's way models reality closer. The final tax base is identical either way.
• Dividends (§8) — match, once you include bond coupons (Hedger tracks them separately, Taxomat folds them into §8)
• Dividend withholding tax — match
• Cash interest — small difference of ~5 CZK; Hedger also tracks IBKR Stock Yield Enhancement Program interest from share lending, which Taxomat does not import
• Margin / leverage interest — match
• Standalone fees (exchange access, ADR pass-through, market data) — Hedger surfaces these as an opt-in §10 D deduction per § 10(4) (off by default to match Taxomat). Taxomat's report doesn't show this category.

The last difference is in corporate-action coverage. In our test Taxomat skipped IBKR option grants (shares received as a registration bonus) and a spinoff (WBD). In our specific data these had no effect on the resulting tax. According to their blog these should be supported, so this could also be something on our side — either we used the free version, or we missed something (the row-by-row comparison was mostly done by Claude).

One thing to note: by default Taxomat applies cross-broker pairing (so for example a sale on IBKR can be paired against a purchase on Degiro), while Hedger by default pairs only within a single broker. This is a deliberate decision on our side — cross-broker pairing requires keeping a long-term record of every pairing so that subsequent years' tax filings remain correct and you don't accidentally underpay tax by reusing the same pairing. For the same reason Hedger doesn't allow methods other than FIFO — we could add them if there were strong demand, but it leads to app-lock-in, where doing your tax filing in later years without this app becomes hard. So for now we go with FIFO only, and per-broker by default.

How the two tools differ in design

Taxomat is built around the yearly tax filing. They have a tax-advisor partnership, broader broker coverage, multiple pairing modes, and an end-of-year sale simulator for planning. Their portfolio tracker is built on a solid foundation and has decent accuracy, but for now it's more of a side feature — functionally it's not as broad and the UI is fairly basic.

Hedger is primarily a portfolio tracker for daily use, with the tax module as one of its features. The tax outputs match Taxomat on our data, but its main job is to be a tool for everyday portfolio tracking. To that end it provides the following functionality:

• Dashboard — cash, positions, unrealized P&L (gain / loss), portfolio value chart
• Portfolio changes — daily / weekly / monthly / yearly attribution of returns (Price changes / FX rates / Dividend and interest income / Fees / Taxes), per position or per broker
• Audit trail — every number can be drilled down to the specific CSV row from the broker
• Position / instrument detail — instrument page with chart, trading history, P&L, FIFO lots, dividend history, news and earnings dates
• Portfolio distribution — breakdown by sector, country, currency, asset class and broker, with drill-down
• Performance and risk — TWR, XIRR, Sharpe ratio, max drawdown, beta vs the chosen benchmark
• Dividend analysis — monthly and yearly flows, top payers, 12-month forecast, withholding tax per country and tax treaty
• Watchlist — track stocks you don't own yet; price alerts, earnings, news
• RSU and ESPP tax calculator — to help with taxes on employee stock awards
• Weekly summary — Monday recap of what happened with the portfolio over the past week, in-app and by email
• Market intelligence — earnings calendar, macro events, news filtered to your positions

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