This SaaS product, Tax Wizard, automates the calculation and reporting of capital gains and taxes for various platforms like Revolut, Degiro, eToro, XTB, T212, IBKR, Lightyear, and Coinbase. It imports data from brokers to ease the tax reporting process, supports international tax documents, provides error-free calculations, and generates detailed reports.
Features
Automated Tax Reports
Automatically imports data from brokers and calculates capital gains, dividends, and taxes for supported platforms including stocks, ETFs, and cryptocurrencies.
Platform Support
Tax-Wizard supports platforms like Revolut, Etoro, XTB, Trade Republic, Interactive Brokers, and more, streamlining the tax reporting process for users of multiple brokers.
Cost Basis Calculation
Simplifies and calculates the cost basis for securities, helping users understand their tax liabilities and generate reports for tax authorities.
Automated Capital Gains Reports
Automatically calculates and generates capital gains reports for various platforms such as Revolut, Degiro, eToro, and more. This saves time and helps users adhere to tax requirements.
Excel Integration
Enables users to export tax reports to Excel, ensuring easy management and editing of financial data.
Platform Support
Supports multiple trading platforms including Revolut, Degiro, eToro, XTB, Interactive Brokers, Trade Republic, and more. This feature allows seamless tax report generation across these platforms.
Dividend and Income Tax Support
Handles dividend and income tax calculations, helping users generate comprehensive tax reports that cover all aspects of their trading.
Forex, Futures, and Options Support
Provides specific support for reporting on Forex, Futures, and Options, ensuring comprehensive tax documentation for these assets.
Support for all brokers and currencies
Provides comprehensive support for multiple brokers and a wide range of currencies, ensuring users can manage their investments across different platforms.
Automatic calculation of capital gains
Automatically calculates capital gains, helping users to determine their tax liabilities efficiently and accurately.
Report with Acquisitions, Realizations, Dividends, and Interest
Generates detailed reports covering acquisitions, realizations, dividends, and interest, making it easier for users to comply with tax reporting requirements.
Open positions report and statistics
Creates reports and statistics for open positions, helping users to track their investment status and make informed decisions.
Transaction and dividends statistics
Provides in-depth statistics on transactions and dividends, enabling users to monitor their investment income and performance.
Export Open Positions to Yahoo Finance
Allows users to export information about their open positions to Yahoo Finance, facilitating better portfolio tracking and analysis.
Simulated IRS Declaration
Data from Anexo J is temporarily transferred to equivalent annexes (Anexo G and Anexo E), allowing you to simulate the IRS declaration efficiently. This feature facilitates the tax estimate process for payments or refunds.
Final IRS Declaration
After simulation, you can generate a final IRS declaration with the adjusted foreign income directly from the Tax-Wizard dashboard, maintaining data consistency and compliance with the Tax Authority's standards.
Support for Brokers and Currencies
The service supports multiple brokers and currencies, ensuring flexibility in handling various trading and investment cases.
Automatic Calculation of Capital Gains
Automatically calculates capital gains, making it easier to manage complex financial transactions without manual intervention.
Export to Yahoo Finance
Allows you to export open positions to Yahoo Finance for additional record-keeping and analysis.
Tax Residency and TIN Reporting
Revolut collects tax residency and Tax Identification Number (TIN) details to comply with international standards like FATCA and CRS. This helps identify tax-responsible countries for account holders.
Account Holder Information Collection
Revolut reports full name, address, date of birth, TIN, and tax residency for compliance with tax authorities.
Financial Account Information Reporting
Revolut reports financial details such as account number, account value, interest and dividend income, asset sales proceeds, and other income information.
Crypto Asset Reporting compliance with CRS
CRS regulations now include provisions for reporting crypto-asset transactions, ensuring tax authorities receive necessary information for compliance. This includes user tax residency and transaction details.
Support for all brokers and currencies
This feature ensures compatibility and seamless integration with a wide range of trading platforms and currency options, providing users with comprehensive trading insights.
Automatic calculation of capital gains
Automatically calculates your capital gains using daily exchange rates, reducing the need for manual calculations and simplifying tax reporting.
Reports with Acquisitions, Realizations, Dividends, and Interest
Generates detailed reports including transactions related to acquisitions, realizations, dividends, and interest to help users easily understand and manage their financial activities.
Open positions report and statistics
Provides a summary and statistical analysis of your open trading positions, helping in assessing ongoing market exposure and performance.
Transaction and dividends statistics
Offers in-depth statistics on transactions and dividends, delivering clear insights into investment activities and income derived from dividends.
Export Open Positions to Yahoo Finance
Allows users to export data regarding open trading positions directly into Yahoo Finance, facilitating greater flexibility in financial tracking and management.
Revolut Integration
Helps users easily extract tax-related information from their Revolut account, including account statements, investment statements, and crypto statements.