Taxsation Brochure

1. CORPORATE PRO®
INCOME TAX COMPLIANCE & PROVISIONS SOFTWARE ONLINE
E-Filing Ready
e file
www.taxsation.com
SationInc. 888-TAX-1120 | 300 North Coit Rd., Suite 650. Richardson, TX 75080
IRS
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2. WHO IS TAXSATION?
mode of advertising has always been the referral of
For over a decade, TaxSation has proudly marketed
our clients. We take care of them and they take care
its Corporate Pro line of income tax software to
of us. Their input becomes the enhancements to our
hundreds of insurance companies, c-corporations and
software and they get the satisfaction of receiving
CPA firms of all sizes and types. What sets TaxSation
customized software without paying a customization
apart from the rest is quite simple – our focus from
fee.
the beginning has always been to produce the highest
quality, most accurate and yet ultimately flexible
If you are looking for a powerful, logical and affordable
income tax software solutions for the specific needs
solution to address your corporate and insurance
of corporations at very affordable prices.
income tax compliance that is approved for E-Filing
with the IRS and can handle all types of complex
At TaxSation, income tax software is not a side job – It
consolidations in a single file, we strongly urge you to
is our only job and we truly understand it. TaxSation’s
visit our website at www.TaxSation.com, where you
philosophy since inception has always been to employ
will find a comprehensive demo of each application
a highly specialized team of income tax experts,
along with other useful information.
researchers, programmers, developers, testers and
support personnel in order to guaranty the highest
We guaranty the time that you invest to familiarize
quality of the software produced.
yourself with Corporate Pro will save you valuable
time and resources for this coming tax season and
Our support personnel consist of the same expert
beyond.
team that help develop the application, understand
your issues and can solve your problems on the spot.
For a complimentary evaluation copy of Corporate Pro
There is no red-tape when it comes to offering you
or to arrange for a free customized live demo, please
immediate solutions. We understand and respect
call us at 888-TAX-1120.
the value of your time and are here to help you with
all aspects of your income tax filing needs. Our best
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3. TaxSation Inc. | www.taxsation.com | 888-TAX-1120 | 300 North Coit Rd., Suite 650. Richardson, TX 75080
SUMMARY of CORPORATE Pro Line
1120, 1120-L, 1120-PC, Failed-816 & HMO
1120-F & 1120-RIC
990, 990-PF & 990-T
5471, 5472, 1118, Schedule N
Other Foreign Forms & Schedules
FAS-109 & SSAP-10
Company Experience & Treasury Factors
All C-Corporations & Insurance-specific States
Plus Puerto Rico
Selected Cities Such as
Cincinnati, Cleveland, Columbus, Louisville,
New York, St. Louis, Kansas City & Philadelphia
Simple & Mixed
C-Corp, P&C, Non-life, Life & Life-non-life
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4. ACCESS METHODS, TRAINING & SUPPORT
Can be Installed on Internet Updates from TaxSation’s Website
• Network • Users are notified upon availability of the updates
• Stand-alone • Specially assigned user ID & password are used for
• Workstation each update
• Company-owned Citrix server
• No need for software installations or updates • Assigned & managed specific user access rights
• Access offered through a series of secure & • Secure user login with specific user ID & password
powerful Citrix Servers
• Data encryption
• 24/7 monitoring & backup
• Meets the most rigid security requirements
• Servers located at various sites
• Minimal or no IT involvement
• Secure instant access to Corporate Pro & user data
• One-time easy setup
files from anywhere in the world
• Access all the time
• Complimentary, unlimited & unconditional • Extended support hours during tax season
support of all offered programs & E-filing including weekends
• Provided by the same expert team of income tax • Local, regional & onsite customized training
veterans & specialists who develop Corporate offered in both presentation & lab formats
Pro
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5. TaxSation Inc. | www.taxsation.com | 888-TAX-1120 | 300 North Coit Rd., Suite 650. Richardson, TX 75080
GENERAL FEATURES
APPROVED E-FILING FOR FEDERAL & STATES
• Automatic creation of XML file plus an XML viewer report making
• Recognized by the IRS as an approved software vendor for E-
it readable by the users
filing federal
• Easy switching from other income tax programs previously E-
• E-filing capability for the required states from inside Corporate
filed by performing a reverse XML import
Pro
• IRS business rules check plus an additional layer of checking to
• Automatic generation of E-file diagnostics & E-file history
ensure success with E-filing the first time
DATA TRANSFER
• Special Import for Offshore, Captive Or Reinsurance Companies
• Rollover of prior year data for a single or as many files as needed
with no annual statement file
at once
• Variety of batch processing functions to control calculations,
• Flexible & user-friendly import of general ledger that can be
customization & print features including Multi-file Rollover, Multi-
used for both provision periods & filing return
file Import, Multi-file Backup , etc.
• Reusable import templates that can be used from year to year
• Centralized spreadsheet data entry throughout the software
with little or no modification
enabling ease of copy/paste into or from Corporate Pro
• NAIC annual statement import from any annual statement
• Minimized entry locations simplifying the flow of data to the
package for Blue, Green, Yellow and Orange-Books
returns & sub-schedules
FLEXIBILITY, CUSTOMIZATION & EASE OF USE
• Override capability on every line along with separate schedules
• Availability of variety of federal & state options allowing the user
for Override Summary & Calc History
to control the user interface, calculations & print
• Capability to add user’s own supporting schedules or notes in
• Inclusion of extensive list of controllable yet preprogrammed
any format such as DOC, XLS, PDF, etc.
automatic adjustments for M1 & M3
• Extensive Online Help System, as well as, inclusion of all return
• Automatic mapping of M1 & M3 with full control over moving
instructions
Items up, down, left or right within M3
• Inclusion of several management summary reports such as
• Drilldown feature allowing viewing & verifying the source of data
Reclass Summary, Check Requests, Summary of Taxes, etc.
along with helpful tooltips
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6. FEDERAL INCOME TAX & INTERNATIONAL
• Easy Failed-816 conversion to P&C & back to Life
FEDERAL INCOME TAX
returns while maintaining records for both
Annual, Estimates, Extension & Amended
• Automatic flow to 1120-PC, Schedule F
• C-Corporation, Life, P&C, Failed-816, HMO, 1120-RIC
& 1120-F, 990, 990-PF & 990-T Extensive List of Pre-Defined Options
Centralized Spreadsheet-Designed Carryover • Allowing customization of the software without any
Schedules for Calculation of need for overrides
• NOL with AMT limitations, Charitable Contributions, Capability of Adding User-defined
Capital Losses, 1231 Recapture & Credits Adjustments
• Foreign Tax Credit worksheet for automatic • Including Pooling Adjustments for one or several
generation of 1118 companies
Insurance-Specific Features Such as Variety of Audit Trail Tools & Reports
• NAIC import of both general & separate accounts • Such as Tax Balance Sheet & Tax Income
for Life Insurance companies Statement
• Calculation of Section 848 Deferred Acquisition Diagnostics Tools
Cost (DAC) for Life companies • To warn out of balance & other important situations
related to M1, M2, and M3
► 60 & 120-Month Amortization
Tracks changes
► Automatic flow to 1120-L, Schedule G
• To the returns on a by-user basis from one
• Required Reserve Interest
calculation to the next
INTERNATIONAL
• Availability of key international forms such as 5471, • Capability of creating multiple 5471 & 5472 returns
5472, 1118, Schedule N, etc. quickly & easily
• Separate import of 5471 data along with currency
conversion
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7. TaxSation Inc. | www.taxsation.com | 888-TAX-1120 | 300 North Coit Rd., Suite 650. Richardson, TX 75080
PROVISION - FAS 109 & SSAP-10
• Consolidated FAS-109 • Calculation of current & deferred income taxes
• Flow from GAAP-to-Tax for C-Corporations & GAAP- • Preparation of provision on spreadsheet basis
to-Stat-to-Tax or Stat-to-GAAP-to-Tax for insurance allowing for ease of entering Adjustments &
companies Reclasses
• Customization of the number of periods to allow for • True-up calculations
monthly, quarterly, yearly computations or as often
• Calculation of provision automatically creates the
as needed
filing return with little or no effort on the user’s
• The use of same General Ledger Import Template part
for both annual return and/or provision periods
• Multi-file import for all companies each period for
• What-If analysis, case studies & forecasting batch processing the provision
capabilities
• Tracking cumulative, temporary & permanent
differences
Access the Corporate Effective Productivity Comprehensive Free live product
Pro software from Tools such as, full Management Level support, and extended
anywhere integration between Tools such as, supports hours during
Federal and other diagnostic report, audit tax season
OR sub modules, batch trails, reclass summary,
processing, automatic summary of taxes,
Install the software on adjustments (M1 & M3), effective tax rates,
your internal network E-Filing what-if analysis, etc
server or stand-alone
machine.
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8. LOSS RESERVE DISCOUNTING (LRD)
“Turn Your Section 846 Calculations Into
MINUTES Instead of DAYS, WEEKS or MONTHS.”
• Designed based on the requirements of Section • Variety of user-defined discounting options such
846 as gross-up salvage & discount negative unpaid
losses
• IRS (Treasury) factors since 1987, as well as,
company experience factors • Choice of three methods for application of
composite factor per notice 88-100
• Inclusion of all RevProcs
• Automatic flow of calculated data to Schedule F of
• Direct Import of Schedule P data from any annual
1120-PC return
statement package for current & prior years
• Five additional future years discounting
• Spreadsheet design allowing copy/paste data in
computations providing forecasting capability
case of unavailability of prior year data
• Allows you to enter an interest rate and simulated
• Import of five extra years of prior year Schedule P
Schedule P data for forecasting purposes
data
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9. TaxSation Inc. | www.taxsation.com | 888-TAX-1120 | 300 North Coit Rd., Suite 650. Richardson, TX 75080
STATE INCOME/FRANCHISE/EXCISE TAX - CIITY TAX
• All C-Corporations & insurance-specific states
including Puerto Rico
• Annual, estimates, extensions & amended returns
for each state
• Federal-to-state schedule allows transferring/
entering key federal data to be used by all states
• Centralized, spreadsheet-designed input
schedules for entering
► Allocation & apportionment
► Prepayments
► Bonus depreciation
► State adjustments
• Extensive state options allowing to customize
each state as needed
• Schedule T automatically created from NAIC
import
• Can be copied/pasted If no NAIC data available
• State NOL carryover schedules along with the
relevant rule for each state
• All state returns instructions
• Availability of key cities such as
Cincinnati, Cleveland, Columbus, Louisville
Kentucky, New York City, St. Louis, Kansas City
& Philadelphia
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10. FEDERAL & STATE CONSOLIDATIONS
FEDERAL & STATE CONSOLIDATIONS
• Automatic creation of subgroup eliminations &
• Uniquely designed one-step consolidation module
consolidated M3s
allowing for simple & mixed consolidations including
C-Corp, P&C, Life, Non-life & Life-non-life
• Full control to the user for inclusion and/or
exclusion of any company in both federal & state
• Flexibility for creation & sub-consolidation of data
consolidations
files for each business unit, division and/or line of
business
• Allows the user to select the parent for each
subgroup, the whole group & even for each state
• Utilization of a SINGLE DATA FILE to perform both
federal & state consolidations at the same time or
• Override capability at any level including
separately
consolidations with override tracking tools
• No need for creation of various useless subgroup
• Audit trails for viewing & analyzing source of data at
data files for entering eliminations & adjustments
each level of consolidation
• Eliminations & adjustments reside in the same
• Unitary & combined state consolidations for the
consolidated data file as two separate columns of
required states
the spreadsheet
• Ultimate flexibility to the users for arrangement
• User’s choice on performing sub-consolidations in
of returns & schedules in single & consolidated
separate files if needed, although not necessary
companies
• Automatic adjustments to back-out the combined &
• The single consolidated file, to be E-filed with the
record the consolidated figures & enter the results
IRS, automatically includes all needed information
in elimination & adjustment columns
including subgroup returns & schedules
• Computation of limitations between companies &
subgroups all the way to the top parent company
• Automatic creation of subgroup & parent carryover
schedules & returns
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11. TaxSation Inc. | www.taxsation.com | 888-TAX-1120 | 300 North Coit Rd., Suite 650. Richardson, TX 75080
SYSTEM REQUIREMENTS
• Requires about 500 MB of disk space for Corporate
• Microsoft Windows NT, Windows 2000, Windows
Pro installed with all optional modules
2003, Windows XP with the latest service packs
• Hewlett Packard laser printer with at least 1MB of
• Compatible with Microsoft Windows Vista with
memory recommended
special setup
• High-speed internet access needed for Corporate
• Corporate Pro is network compatible with Novell,
Pro internet updates
Microsoft Windows & Citrix
• High-speed internet access is a must • Multiple daily backup of all data
• No tangible requirements on client’s resources, • Client choice for additional backup in their own
such as processor speed, RAM or disk space environment
• Access to the most updated version of Corporate • Built-in traffic controller to monitor & adjust the
Pro & client data files from anywhere & anytime number of users on each server for optimum
speed
• No need for Corporate Pro installations or updates
• Can easily upload and/or download necessary
• Web access provided through a series of extremely
client data from or to TaxSation’s Citrix servers
powerful & secure Citrix servers
• Minimum of two years of program & client data
• Servers hosted in multiple locations
kept on servers
• Requires a one-time installation of Citrix client on
• Programs and client data can be archived to DVD
each machine needing access
upon request.
• 24/7 monitoring to ensure around-the-clock
access
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12. ©2008 TaxSation Inc.
All rights reserved. CORPORATE Pro® is a registered trademark.
All names and trademarks mentioned are the property of their respective owners.