Quicklinks

NEWS & EVENTS

• Press Releases
  • Press Archives
• Press Coverage
  • Press Coverage Archives
• Events
• Webcasts
• Newsletter
• Blog

Press Release

Just2Trade Offers Scivantage Maxit - Tax Management and Cost Basis Reporting Package - At No Cost To Clients

Apr 1, 2008

April 01, 2008 -- Washington, DC -- Just2Trade - a leading discount online trading site offering unlimited $2.50 trades - today announced that it will offer Scivantage MaxitTM, the premiere automated cost basis and portfolio reporting solution, to clients at no cost.

"The addition of Maxit was a result of consumer demand and a proactive measure in response to pending congressional basis reporting legislation," said Just2Trade Founder and CEO Fuad Ahmed. "After significant research, we chose Maxit because it offers clients unrivaled accuracy and sophistication when managing tax consequences and improving investment tax decisions."

If enacted, the congressional basis reporting legislation would require financial institutions to provide cost basis reporting for stock and other investment instruments. The legislation was introduced by a bipartisan group in the House of Representatives and was included in President Bush's budget for 2008 and 2009.

"We are pleased that Just2Trade has chosen Scivantage Maxit," said Cameron Routh, Scivantage Senior Vice President, Strategic Products. "Through tax-smart investing, Just2Trade clients will now be able to hold onto more of their investment returns and gain a tremendous edge each tax season."

Maxit provides a full range of tools to track capital gains, generate Schedule D reports for tax filing and improve after-tax performance. Investors can also reduce the burden of Schedule D reporting during tax time and simplify the overall investment tax decision process year-round. The system supports all Just2Trade product offerings, including stocks, options, ETFs and mutual funds.

Maxit Advantage to Clients:

• Tracks cost basis for all investment transactions, including adjustments to cost for corporate actions (splits, mergers, spin-offs, etc.) and wash sales
• Sets default standing orders for matching sells to tax lots such as Minimize Tax, First In-First Out, Last In-First Out
• Calculates unrealized and realized gains and losses
• Automatically generates tax reports, such as the Schedule D