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  Home > Press Room > Press Releases > G2 FinTech and Advent Software Forge CBR Phase-3 Ready Solution

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G2 FinTech and Advent Software Forge
CBR Phase-3 Ready Solution

Tax software company adds TaxGopher functionality to help Advent Geneva users comply with Phase 3 CBR and publishes white paper on the topic.

New York, September 8, 2014 — G2 FinTech, provider of tax analysis and compliance software for the investment management community, today announced that TaxGopher® now supports Phase 3 Cost Basis Reporting (CBR) for Advent Software’s Geneva® clients. TaxGopher levers the fixed income engine within Geneva, Advent’s world class portfolio management system, to drive tax analysis computations and reporting for Phase 3 covered securities – fixed income and derivatives. Geneva and TaxGopher, proven solutions for the complex tax accounting associated with derivatives and other alternative instruments, deliver a powerful CBR solution that is designed to scale. A large number of Prime Brokers are already benefitting from this combined solution and using it to address CBR, Phases 1 and 2.

George Michaels, CEO and Founder of G2 FinTech, commented, “G2 has always been in the forefront of addressing the complicated accounting issues our clients face related to fixed income and derivatives. TaxGopher, our best-of-breed software for tax analysis of securities transactions, combined with Advent Geneva’s rich pre-tax handling of fixed income and derivatives, enable the G2-Advent alliance to provide a strong Phase 3 solution for Geneva clients.”

As an Advent Alliance Partner, G2 is a Sponsor and Exhibitor at AdventConnect 2014, Advent Software’s annual U.S. client conference and will be located at Booth #25.

Additionally, G2 FinTech has published the white paper, “Cost Basis Reporting, Phase 3: The Basics,” which outlines how to comply with Phase 3 requirements when generating 1099-B statements that include securities futures contracts, different options and covered debt. The paper also reviews amortization rules, which are an integral part of calculating cost basis for debt instruments and can make compliance with Phase 3 highly challenging for brokers.

To access other white papers on best practices for Internal Revenue Compliance (IRC) and for more information on related topics, please visit G2 FinTech’s Tax Analysis of Securities Transactions Resource page.

G2 FinTech (www.g2ft.com) specializes in tax analysis and compliance software for the U.S. and international investment management community. TaxGopher®, G2’s flagship product, is a sophisticated tax analysis engine for cost basis adjustments. TaxGopher enables firms to meet their compliance requirements by providing accurate information on taxable gains and losses. For a full cost basis reporting solution, G2 offers TaxGopher+, which adds a tax lot retirement engine to TaxGopher. G2’s international compliance offerings include software modules for German Tax and UCITS Directives. Our software products help Clients solve business problems that have been traditionally addressed with in-house code or expensive third-party services. We have helped leading Hedge Funds, Brokerage Firms, Fund Administrators, and Accounting & Audit firms with our solutions. The company also maintains a Resources page that provides tax practitioners and compliance officers with practical information and guidelines on how to accurately perform tax analyses on securities transactions. Visit Tax Analysis for Securities Transactions Resource Page to learn more. G2 also hosts a Taxable Events Webinar Series.

Media Contacts:
Brendan Beaver/Steph Johnson
Aspectus PR
+1 646 202 9845 / +1 646 202 9842