CPA Practice Advisor - 18

FEATURE
Continued from Page 9
This awesome new feature eliminates the need for
passing spreadsheets back and forth and the issues related
to this process. Clients can select an actual account from
the list rather than just provide a general response. This
reduces the needs for repetitive requests, makes it easier
for the clients to respond, reduces duplicate data entry and
saves the accounting staff time. Result is better workflow
and more timely response from clients, allowing accountants
to provide accurate and timely financial reports to clients.

CoinTracker - by CoinTracker
www.cointracker.io/cpa

CoinTracker is an easy-to-use web application that allows
tax practitioners to reconcile cryptocurrency gains and
losses. It automatically syncs transactions from over 3,000
cryptocurrencies, and over 300 wallets & exchanges into one
unified dashboard. The outputs help accountants generate
all the necessary tax forms (IRS Forms 8949, Schedule D,
Schedule 1, FinCEN 114).
CoinTracker is solving a major compliance problem in the
cryptocurrency industry. Cryptocurrency exchanges do not
issue 1099s listing proceeds, cost basis, and gains/losses.
Therefore, it is tax practitioners' responsibility to accurately
calculate gains and losses by following complex transaction
reports. This is virtually impossible to do manually because
you have to account for proper valuation, transfers, tax lot ID
methods (FIFO, LIFO & spec ID), cost basis, etc. CoinTracker
fully automates this reconciliation and issues an accurate
gain and loss report for tax practitioners.
To date, CoinTracker has served over 100,000 users,
tracked over $20 billion of cryptocurrency transactions and
helped users calculate over $600 million of capital losses.
Hundreds of CPAs in the US, UK, Canada, and Australia
use CoinTracker to serve their cryptocurrency clients. By
using CoinTracker, these CPAs have cut down more than
80% of their time in manually reconciling cryptocurrency
transactions in spreadsheets. Further, increased accuracy
has resulted in fewer tax notices and overall higher client
satisfaction.
CoinTracker is the only cryptocurrency tax software that
has partnered with Coinbase, and is integrated with TurboTax
and TaxAct. The company is backed by Y Combinator, Alexis
Ohanian (co-founder of Reddit), and Serena Williams.

Empire AUTOMATED TAX SCHEDULING
- by WSG Systems Corp.
https://go.empiresuite.com/

Because the projects are of short duration, the work steps
are serially dependent, and the work load and priorities are
constantly changing, tax compliance scheduling is difficult
at best, and far more challenging than scheduling Audit or
Consulting work. What if:
* You could plan your next busy season ahead of time?
* There was a better way of assigning tax returns to your
staff than 'out of the pool'?

AUGUST 2020 ■

* You could adjust your calendars in real time to determine
how many hours your staff needs to work to ensure as
many returns as possible are completed without requiring
extensions?
* Schedules could be adjusted on the fly as returns are
completed and new returns are added?
With AI-based Empire AUTOMATED TAX SCHEDULING
and our 'What If?' capabilities, you can do all of these things
and more. How is that possible? Empire AUTOMATED TAX
SCHEDULING evaluates. . .
* Staff skills
* Experience with a client
* Staff Cost
* Staff Availability
* Calendars
* Statutory and Planned Due dates
* Return Priorities
... and creates the optimal schedule for your managers and staff, balancing resources, return types and work
load, and saves your firm time and money. Comprehensive
reporting lets you see the status of any return at any time,
and helps you identify the bottlenecks while there's time
to make adjustments. Seamless integration with Microsoft
Office ensures Outlook calendars are populated with current
and upcoming assignments. This means happier clients.

EY Global Tax Platform - by EY
www.ey.com/en_us/tax/global-tax-platform

The EY Global Tax Platform (GTP) is a cloud-enabled
Copernican shift that leverages the power of big data,
advanced analytics and cutting-edge technology to support
the evolving needs of tax professionals worldwide.
Organizations benefit from access to real-time data
to mitigate risks, control costs and drive value from their
tax function. GTP, powered by Microsoft Azure, is the only
platform offering clients a comprehensive global view
of their worldwide tax profile while utilizing best-in-class
technology to gather, store and analyze data in a safe,
secure environment.
GTP fuses Microsoft's technology acumen with EY's
tax expertise to create efficiencies previously unrealized.
Through EY's vast client network, GTP has made it simple
to connect and assess data globally. GTP integrates data
from clients' existing IT systems; provides built-in data
transformation and validation; performs tax calculations
and analysis; and applies machine learning and artificial
intelligence to improve and adapt to clients' unique needs
and challenges. By using GTP automation and customizable
dashboards, EY clients can open new windows into their
global operations and tax savings opportunities, never
before seen.
GTP is the result of EY's commitment to offering
clients a global platform that consolidates key data across
international operations to provide a comprehensive view of
organizational tax exposure. It equips clients' tax functions
with the ability to evolve and scale as their needs change
while eliminating inefficiencies and harnessing world-class

www.CPAPracticeAdvisor.com

technology. GTP continues to illuminate a path through the
complexities of tax landscapes worldwide.

Rootworks Performance Platform - by
Rootworks
https://rootworks.com/

Rootworks Performance Platform represents the only frontoffice solution designed to help accounting professionals
execute on their business model. Structured data gathering
informs firm leaders on client technologies and the right
products to sell-while also offering the deeper insight and
intelligence required to transform from a reactive to proactive
advisory model. The platform also seamlessly integrates with
Rootworks advanced website CMS, supporting firms at all
levels of front-office operations.
Core modules within Rootworks Performance Platform
include:
*C
lientView-Our powerful client intelligence module
enables firms to efficiently and effectively organize and
analyze client data. Using intuitive filters, firms can easily
slice and dice data to identify opportunities and serve
clients proactively with the right technologies and products
at the right time.
*C
ontent-Offers premium, education-based content
including eBooks, client magazines and short-form business
articles. Content is dynamically pushed to a firm's website
and is ready-made for posting to social channels, helping
drive traffic to a firm's site and capture leads.
* Website-Offers firms a professional, advanced website
that serves as a place to conduct business with clients;
capture prospect opportunities (which automatically flow
into ClientView); and display dynamic, timely and relevant
content.
* Connect: Our online community forum allows members
to connect with more than 700 firms to exchange ideas
and seasoned insights. Connect represents a powerful,
established forum of people helping people. Rootworks
Performance Platform is the only front-office solution of
its kind-designed for accounting firms by accounting
professionals. Firms can now execute on all key front-office
activities within a single integrated and highly intuitive
platform.
The awards are voted on by a panel of thought leaders
and consultants to the accounting profession.

https://www.rootworks.com/ http://www.cointracker.io/cpa http://www.ey.com/en_us/tax/global-tax-platform https://go.empiresuite.com/ http://www.CPAPracticeAdvisor.com

CPA Practice Advisor

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