2012 Innovation Awards Nomination:
TaxGopher v4
www.TaxGopher.com
TaxGopher is a powerful tax analysis engine, provided by G2 FinTech, for cost basis adjustments that provides accurate information on taxable gains and losses for the alternative investment community. TaxGopher allows for the robust handling of substantially identical securities and runs accurate and comprehensive tax analysis processes that identify wash sales, constructive sales, straddles, section 988 income bifurcation and qualified dividends. The tax engine easily integrates with various accounting systems or data stores and eliminates additional costly, time-consuming and error-prone reconciliation steps. TaxGopher can process 10,000 transactions per second/per core and can easily scale with businesses because the engine was designed to acknowledge the fact that portfolios can be subdivided by security and/or client. The tax engine’s fast processing capabilities allow businesses to keep current with changing accounting processes on a one time basis, a!
t the end-of-the year or at monthly or daily frequencies. G2 FinTech’s software is deployed on-site to avoid jeopardizing the confidentiality of investor or client data.
Tax regulations are difficult to comply with if not approached properly because of the interdependencies in the regulations. TaxGopher ensures a firm’s K1 and 1099(b)s reflect accurate information when submitted to the IRS. TaxGopher successfully converts a firm’s investment books to their tax books, eliminating the threat of non-compliance with the IRS.
TaxGopher augments a firm’s existing portfolio management system and can integrate with any of them. The solution is currently driving wash sale reporting for more than 500 Hedge Funds and is available for hedge funds, fund administrators, private wealth managers, broker dealers, and mutual funds.
Contact: Jackie Maven
jackie.maven@aspectuspr.com
646-792-2109
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