It Starts with your Netbasis
What makes Netbasis such a powerful tool for investment and tax professionals is in its advanced technology. Netbasis is a one-of-a-kind investment wealth tax tool that reveals customized strategies and analysis for clients in seconds. Netbasis will start with smartly verifying the cost basis of the investment and then incorporate “what if” tax implications within the investment strategy.
Netbasis can provide Answers to Investment Tax Issues
Netbasis generates a complete detailed report that can be used as a blueprint for your client's tax strategy.
To learn more, schedule a demo today.
Netbasis Featured Tools
Tax Loss Harvesting
The Netbasis Tax-loss Harvesting feature will first verify the cost basis accuracy on any existing security position(s). Second, Netbasis will provide custom simulated sale scenarios to reach an efficient tax loss harvesting strategy.
Wash Sale Loss & Detection
The Netbasis wash sale loss deferral feature is a “must have” tool. Users can quickly identify any of the 30 most complicated wash sale tax scenario violations in seconds.
Crypto, Equities, PTPs
The crypto tool can upload multiple transactions via CSV file and process multiple tokens simultaneously. Netbasis currently covers over 500 cryptocurrencies and updates its database daily.
Tax Sale Planning
Netbasis provides a tax sale planning tool that allows users to predetermine the right sale methodology decision before the actual sale. A detailed report identifying the specific tax lots required to achieve the desirable tax strategy.
Netbasis provides a charitable tax optimization tool that allows users to maximize their planned giving strategy by creating smart “what if” contribution tax saving simulations.
Investment & Wealth Tax Management Tools
Netbasis is a first of its kind versatile platform that allows advisors to access several wealth tax analytical tools in the area of:
Retrieval and Verification
Planning and Analysis
Alternative Investments - Publicly Traded Partnerships (PTP’s)
Understanding how PTP investments are taxed is a critical part of accurate tax reporting. The most important aspect is the difference between a PTP investment vs. a common stock. As users may receive dividends in stocks, PTPs return cash to investors through partnership distributions. Partners in a PTP are taxed on their share of the partnership’s income and deductions, while stock investors are taxed on their share of dividends received.
Netbasis identifies a PTP investment through asset classification and provides a custom trade activity window that allows its users to add key income and deduction information identified on their Schedule K1 (Form 1065), Partner’s share of Income, Deductions, Credits, etc. Netbasis will calculate and track the tax basis, at risk basis and passive loss values, based on the income and deductions provided for PTP tax analysis and reporting.
How can this feature help me?
The PTP tool enables users to calculate the adjusted cost basis and other important tax reporting values (At Risk Basis, Passive Losses) based on Schedule K1 (Form 1065) income and deductions entered. Netbasis also provides a custom report with result information.
It all starts with your Netbasis!
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WHAT OUR CLIENTS ARE SAYING ABOUT US
"When I used Netbasis, I was just happy to know that I wasn’t going to have to try to figure out the cost basis on my AT&T shares, but I ended up finding out that I owned a lot more shares in different companies than I knew about!"
"Our firm has invested in a suite of applications offered by NetWorth which has allowed us to offer a higher level of investment services and increase our AUM."
"Even for someone in the investment business, corporate actions can be unbelievably difficult when trying to calculate your client’s cost basis. Having an automated system really saves a lot of time and frustration."
"I have quite a few clients whose investments go back quite a few years, either because they have invested for most of their adult life or they may have inherited investments. Netbasis allows me to quickly and easily handle complex investments within minutes. Before I started using this system, I was using spreadsheets and having nightmares!"