CCH Logo
Contact Us | CCH Online Store | Site Map    

  
navigation tabnavigation tab Home 
navigation tabnavigation tab About Us 
navigation tabnavigation tab Order Products 
navigation tabnavigation tab Press Center 
navigation tabnavigation tab Customer Service 
navigation tabnavigation tab Career Opportunities 
navigation tab
   HomePress CenterPress Releases
 
Press Releases
List By Date
Banking/Finance Institutions
Business Law
Corporate
Health Care and Entitlements
Human Resources
Securities
Tax
News Archives
 

Contact Information

Leslie Bonacum
847-267-7153
mediahelp@cch.com
Neil Allen
847-267-2179
neil.allen@wolterskluwer.com

OptionsXpress Adds CCH Gainskeeper Tax Tools to Its Online Services

(RIVERWOODS, ILL., November 19, 2003) – OptionsXpress, the online options and stock brokerage, has made it easier for its customers to choose tax-efficient trading strategies and significantly reduce the time it takes to complete their Schedule Ds by using GainsKeeper, an automated service from CCH INCORPORATED (CCH), a leading provider of securities information and software.

Customers of optionsXpress will have access to GainsKeeper, a provider of tax lot accounting tools. OptionsXpress has also obtained a promotional discount from GainsKeeper for its customers.

"OptionsXpress is committed to offering our customers solutions to challenges of cost and complexity. These obstacles are particularly relevant to tax lot accounting," said David Kalt, president of optionsXpress. "In keeping with our mission to provide the most efficient execution of online options trading, we are pleased to offer our customers GainsKeeper’s tax lot accounting solution along with advisory tools that help optimize after-tax returns."

By using GainsKeeper, customers can calculate tax liabilities resulting from trading activities in their brokerage accounts. GainsKeeper also automatically alerts them to the impact of wash sales and other events that can affect taxes.

Customers of optionsXpress can utilize this tax lot accounting service by downloading historical transactions into GainsKeeper. GainsKeeper’s system then automatically updates the cost basis of positions to reflect wash sales and corporate actions, such as mergers and splits, leading to accurate capital gains calculations throughout the year.

"We worked closely with optionsXpress to provide its users with state-of-the-art tax lot accounting tools," said Peggy Hayner, product manager for CCH’s Business and Finance Group. "We’re pleased to offer optionsXpress’ customers an innovative service delivered through powerful but easy to use technology."

About optionsXpress

OptionsXpress (www.optionsxpress.com) is the online options and stock brokerage for self-directed investors who want to use options to help protect portfolios, increase investment income and maximize returns on stock movements. With its suite of proprietary, innovative tools and features, optionsXpress reduces the mystery and complexity of options and assists users in identifying, evaluating and then executing suitable options investment opportunities. OptionsXpress was named both the top online broker in the 2003 Barron’s online broker survey, with an unprecedented four-and-a-half star rating (out of five), and the favorite options site by Forbes Best of the Web.

About CCH INCORPORATED

CCH INCORPORATED, a Wolters Kluwer company, was founded in 1913, and has served four generations of business professionals and their clients.

CCH GainsKeeper (gainskeeper.com), based in Quincy, Mass., is the leading provider of automated tax-based financial tools and services for the investment community and is a division of CCH.

GainsKeeper Institutional Services (GKIS) provides solutions for financial institutions, enabling its partners to offer sophisticated tax lot accounting to their customers without incurring the high cost of building, maintaining, and housing the systems and operations necessary to provide institutional-quality service. GKIS serves the advisor, brokerage, mutual fund, and fund administration industries, providing solutions ranging from back-office outsourcing to fully integrated Internet-based tools and services. Additional information is available at www.GKIS.net, via e-mail to bizdev@gainskeeper.com, or by calling 617-472-3314.

-- ### --

nb-03-95

       


   © 2024, CCH INCORPORATED. All rights reserved.   

  Back to Top | Print this Page   
spacer