Products March 10, 2009

Options Web Site Updates Tax Content

The myStockOptions.com Web site has updated its content about the effects of recent federal tax law changes on stock compensation programs.
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A news release from the Web site said the revised articles are in the site’s Tax Center and deal with the filing and reporting of tax returns that involve stock options, restricted stock, restricted stock units, stock appreciation rights, and employee stock purchase plans.

Core articles and FAQs spell out the most common mistakes people make with stock grants on their tax returns, the release said.

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According to the release, the updated content deals with:

  • stock compensation issues that draw IRS scrutiny
  • key changes in the income exemption amounts for calculating the alternative minimum tax (AMT)
  • revised rules for using old AMT credits to help taxpayers stuck with ISO stock whose value has dropped
  • the effect of stock compensation on any remaining eligibility to receive the 2008 tax rebate for individuals
  • the complexity of estimated taxes
  • netting capital gains and losses with company stock
  • the impact of the deferred compensation provisions in IRC Section 409A
  • the effect of stock compensation on eligibility to receive the Making Work Pay Credit under the 2009 stimulus law.

     

Products March 10, 2009

Sungard Rolls out ASP Charlotte Version

SunGard now provides application service provider (ASP) delivery of its Charlotte trust accounting system for portfolio management, securities processing, performance reporting, and regulatory compliance, the company said.
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A real-time trust accounting and investment management solution, the system helps trust and wealth management organizations attract, service, and grow client relationships, according to a SunGard news release.

The new offering helps eliminate the need for customers to purchase, maintain and upgrade server hardware and database software, as well as reduce the IT resources required for customers to manage the trust accounting system, SunGard said.

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Customers get automatic upgrades of the system, database, and other related system software, as well as data and system backup and recovery. The system can also complement customers’ network needs for staff to access it remotely, from their homes or customers’ locations.

“The cost of installing and maintaining trust accounting systems in-house can be out of reach for financial institutions that need to be able to reduce costs in today’s challenging economic environment,” said Kevin Rafferty, president of SunGard’s wealth management business, in the news release.

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