Major Interactive Brokers Group, Inc. (Nasdaq: IBKR) introduced improvements to the professional tax planning tool with the launch of the tax plan, available through portfolio.
Its new capabilities complete the existing tax and tax match features, giving investors greater control over the tax impact of their investment activity.
With tax planning, users create personal tax profiles from inflows, such as income from other sources, reductions, deductions and tax rates. The tax developer uses the tax profile as well as activities from interactive brokers to help assess tax accounts and help with tax planning throughout the year. The tax developer is available through the portfolio, the integrated and free portfolio management solution of the mediators. The portfolio integrates accounts to all financial institutions, monitors the performance and activity of the account and provides a wide set of tools for analyzing a whole portfolio and planning for the future.
In addition to the tax designer, Portfolioanalyst also includes distribution objectives to monitor portfolio distribution, retirement programmer to build a personalized retirement plan and the budget tool for creating monthly and annual budgets. With the portfolio, investors can easily develop an integrated investment and financial management plan.
“Our mission is to equip customers with tools that make investment performance management, including tax results, more effectively, while maintaining low cost and worldwide access to the market that defines interactive brokers,” said Milan Galik, CEO of Interacters. “The new tax designer gives investors a higher degree of supervision on the tax impact of their transactions.”
In addition to the tax designer, interactive brokers continue to offer a series of tax optimization tools, including tools that help customers find losses in all portfolios and match closing transactions with specific batches after or pre-trade. These features help to harvest tax losses, helping investors manage capital profits and losses.