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Following factors played a major role in our partnership:
- The extensive knowledge of trader tax issues and rules by
edaytradertax.com specialists
- Edaytradertax.com service model and a desire to produce quality
information
- Our expertise in developing business rule based solutions
- Same point of view on the business model to ensure great value, quality
product, and low price for traders.
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| The alliance was created after an extensive evaluation of software available
on the market between 1998 and 1999 with following results: |
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- None of the software on the market was capable to provide correct results
for entire or even part of the tax code effecting active traders.
- There was no software which followed the tax rules to determine proper
trading profit / loss. There were only two software solutions on the market,
which could be use on daily/weekly basis to help traders keep track of their
trades (in log format) and provide general (not very accurate) profit/loss
estimation*
- There are dozens of wash sale scenarios (depending on individual’s
trading patterns), that can not be handled by software in about 80% of cases
and an intervention is required by an expert to properly complete schedule
D.
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Thus during 1999 and 2000 a first version of the ITTSS system was developed.
ITTSS, together with edaytradertax.com trader tax specialists, enables creation
of high quality and accurate results for traders and with accordance to the tax
rules.
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The objectives of the partnership are to provide traders with:
- Tax compliant documents
- Documents created for reasonable price by optimizing required human
intervention (create efficiency) in areas where software can not provide
answers
- Provide timely and superior service to traders
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