 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
 |
| Consumer Frequently Asked Questions | |
| Q. Is it possible for non-professionals to use the Professional Tools? | |
| Yes, anyone can utilize our unique, proprietary calculators and have access to the extensive suite of Forms & Checklists, Ask the Expert, and the many other useful tools. Simply click on Register and proceed through the registration process. | |
| Q. I am not a "professional" but still want to use the Professional Tools. Do I have to have my name included in your Find a Tax Professional directory? | |
| No, if you want to have access to all the Professional Tools but do not want your name displayed in the Find a Tax Professional directory, simply check the box on the registration page "Annual Registration Only". | |
| Q. I have some ideas that I think would be useful enhancements to 1040tools. How do I let you know? | |
| If you feel that there are additional issues, forms/checklists or calculators that you think 1040tools should address, please contact us. If we use your idea, we will provide the registrant with free lifetime registration! | |
| Q. I understand that there is a nominal annual fee for accessing the site and having my name included in your referral directory if I so choose. How much is the fee and how is it paid? | |
| In order to keep our site current with respect to the extensive database and programming requirements, we charge registered users $19.95 per year access fee ($39.95 if you or your office is in our directory listing). We have provided for online purchase via credit card but will of course, accept payment by check if you prefer. If you wish to pay by check, simply contact us and we will fax you the order form. | |
| Q. 1040tools has "Fee Based Calculators". What are these and how do I access them? | |
|
Any registered user can access the Mutual Fund Basis Calculator and the Historic High-Low-Mean Value Calculator - both of which are unique, proprietary programs that we developed in-house. These calculators are not available anywhere else! Try a sample calculation. The Mutual Fund Basis Calculator utilizes an extensive database to compute the cost basis of over 7,500 mutual funds that have had dividends reinvested each year. All the user needs to do is input their purchases and sales (by date) and 1040tools calculates the average cost basis as of a specified date - taking into consideration all dividend reimbursements. What used to take hours of research time now takes only seconds! The Historic High-Low-Mean Value Calculator computes the fair market value of over 15,000 securities in accordance with IRS Reg. 20.2031-2. This calculator is a must for preparing the IRS Form 706 - it even provides the alternate valuation date calculations as well! No more having to rely on others for their interpretation of the correct way to perform these complex calculations. |
|
| Q. I am trying to use one of your "Fee-Based Calculators" but cannot obtain the information for a security using the ticker symbol. What should I do? | |
|
While our database is extensive - providing for mutual fund basis calculations for over 7,500 funds and fair market value calculations for approximately 15,000 securities - there could be instances where your particular selection is not currently available. This could be due to the fact that a) we are not currently satisfied with the underlying data for the ticker symbol, b) the ticker symbol may have changed since our last update for the security or c) the data for the security is not included in our database. In any event, you should contact us so that we may address your needs. It may be possible for us to put your security or mutual fund at the "top of our research list". We are, of course, continuously updating and testing our database but would be happy to address your immediate needs. |
|
| Q. How reliable is the 1040tools database? | |
| The 1040tools database has been developed from a wide range of resources. From reference publications, brokerage houses and major professional data providers we have assembled, tested (and re-tested) our database against the data and statistics (i.e. yields) produced by world-renowned mutual fund tracking and evaluating companies. To further test our database, we performed manual calculations (based on actual client data) to compute the basis for a substantial number of the mutual funds. We are continuously testing the existing database - especially when we update it. We will not make the data available for any security or mutual fund until we are satisfied with its integrity and accuracy. | |
| Q. How often is the 1040tools database updated? | |
|
We are continuously updating and testing our database. No security or mutual fund data will be included in our calculation population until we are satisfied with its accuracy. If you have to have a calculation performed on a security or mutual fund not currently available in our calculation population, please contact us and we will make every effort to research it for you. In any event, we are currently trying to update our database monthly. This is, of course, not always possible since we rely on a number of outside data providers for our data. |