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GainsKeeper in the News

Jennifer Marso
Director of Corporate Communications
Wolters Kluwer Financial Services
On Twitter: @JenniferMarso
Angela Peterson
Senior Public Relations Specialist
Wolters Kluwer Financial Services
On Twitter: @AngiePeterson
Christina Chiu
Public Relations Specialist
212-668-0888, ext. 172
On Twitter: @SogoTrade
SogoTrade Chooses GainsKeeper to Simplify Tax Reporting for Investors
Technology Alleviates Pain of Capital Gain Calculations and Schedule D Preparation Ahead of New Cost Basis Reporting Law

WALTHAM, Mass. – Mar. 02, 2010 – SogoTrade, a division of Genesis Securities LLC, will implement Wolters Kluwer Financial Services’ GainsKeeper tax-lot accounting technology to provide customers with robust tax reporting tools and comply with coming new rules required by the Internal Revenue Service (IRS).

GainsKeeper technology will help SogoTrade customers compute capital gains and losses and provide them with information to complete Schedule D (Form 1040). GainsKeeper will also track and compute cost basis adjustments for corporate actions and wash sales, which will help SogoTrade satisfy the requirements of cost basis reporting.

Part of the Emergency Economic Stabilization Act of 2008, the cost basis reporting law requires financial institutions to report adjusted cost basis information for covered securities to the IRS and their customers.

“Preparing for the cost basis reporting law is a big undertaking for the brokerage community,” said Chuck Ross, general manager for GainsKeeper. “But SogoTrade’s proactive measures will help them be ready for the law’s first effective date on January 1, 2011.”

“Active traders and long-term investors alike can face complicated tasks at tax time,” said Dave Whitmore, president of SogoTrade. “GainsKeeper complements our cutting-edge, low-cost trading technology with tools that will help our customers manage their portfolios and prepare their tax returns easily and accurately.”

About SogoTrade

SogoTrade ( is the online retail division of Genesis Securities LLC.. SogoTrade offers advanced online trading and research tools, fast trade executions and exceptional customer service. With $3 online stock and ETF trade commissions and $5 option trades plus 65¢ per contact, SogoTrade empowers investors to participate in financial markets at a low cost. Follow SogoTrade on Twitter: @SogoTrade.

SogoTrade is a division of Genesis Securities LLC. Securities products and services are offered by Genesis Securities LLC, member of FINRA, SIPC and ISE.

About Wolters Kluwer Financial Services

Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2009) €3.4 billion ($4.8 billion) and approximately 20,000 employees worldwide. Please visit our Web site for more information.