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Mariner Rolls Out G2 Tax Kit

Mariner Investment Group, a large investment manager based in Boston, recently implemented TaxGopher, a tax analysis engine from G2 Systems.

Steven Gargano, managing director at Mariner Investment Group, comments: "TaxGopher gives us more control of wash sale data and has improved the task of year-end tax analysis by automatically compiling relevant information and producing useful reports."

G2 Systems today announced an upgrade to TaxGopher. The new version adds functionality to analyze straddles and qualified dividends. G2 has also enhanced TaxGopher's handling of wash sale treatment and constructive sales, and extended the product's suite of reports.

TaxGopher is used to perform tax analysis on over 400 hedge funds, according to company claims. It addresses different taxable events such as wash sales, constructive sales, straddles and qualified dividends. TaxGopher's treatment of these taxable events eliminates the manual work historically associated with addressing the effects that a specific taxable event might have on another event. As a result, G2 claims that a hedge fund's tax reporting is 100% compliant with IRS regulations.

"Over the years, I noticed a distinctive void in the options available to help hedge funds generate accurate K1's," says George Michaels, CEO at G2 Systems. "By having accurate and tax-compliant data, we are filling this void and effectively anticipating the upcoming regulatory requirements that surround cost basis reporting. The G2 Team thoroughly understands the needs of the alternative investments space, enabling us to produce solutions that can be fully integrated, regardless of the fund accounting system an individual client may be running." Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio

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