How to Tackle 7 Common Cost Basis and Tax Headaches at Once

Laura Cox
Nov 27, 2023 - Last Updated: Dec 1, 2023

The whole idea of automated cost basis and tax processing is to make life easier for tax operators. But that isn’t the reality at many firms. Instead, many talented, highly trained, and licensed professionals spend hours combing through the mistakes and breaks caused by the very systems that are supposed to be helping them.

So here’s the problem with a broken system: it takes so much daily time and attention to fix the errors that the workarounds eventually feel like they are the standard operating procedures, and not just the exceptions. It feels a lot like your operators are working for the system, instead of the system working for them. It’s frustrating and inefficient and it certainly won’t scale as your firm grows.

That’s why Apex Silver is here with automation that can actually improve work and work-life balance. Apex Silver can automate it all by collecting, normalizing, reconciling, and reporting in real time. Not only can this SaaS solution free up staff hours to focus on more productive activities, it can reduce the total cost of ownership of your tech stack. 

What Can Apex Silver Cost Basis and Tax Automation Do?

Glad you asked, because we’ve put together an ebook on this very topic. In 7 Data Client Flaws You Can Now Live Without, we cover the biggest challenges that advisors deal with during cost basis and tax reporting. Here’s an excerpt:

Flaw 2

Daily Breaks that Divert Operator Attention

Lighten the load for cost basis operators. Minimize hours of tedious investigations and manual workarounds. The solution is cleaner data, which means fewer breaks, fewer hands fixing data, and fewer interruptions. Run even the biggest reports without fear.

Instead of repairing hours of errors:

  • Deftly handle corporate actions, fixed income, and wash sales
  • Optimize operational efficiency with intelligent automation

Flaw 4

Making “Bulk” Edits One at a Time

Why can’t systems let you just apply a fix to all similar breaks? Well, they can now. Instead of painstaking investigations into each break, you can get natural language explanations of what happened. Then you can apply your fix across thousands of identical issues. Bulk editing makes so much sense, it’s soon going to be hard to remember life without it.

Instead of making the same edits over and over:

  • Make one edit and immediately apply it at scale
  • Automate corporate action updates
  • Spend more time on higher-value work

If you can live without these two flaws in your work life, go ahead and download the ebook to see all seven — we don’t require any personal info to get access.

Get 7 Flaws Ebook 


Trust Apex Silver to Do So Much Heavy Lifting

Apex Silver, a division of Apex Fintech Solutions, combines world-class technology with decades of real-world experience. Our services include:

  • Tax Reporting that is accurate, automated, and includes a wide range of covered forms
  • Cost Basis Reporting that’s flexible, efficient, scalable, and compliant
  • Fee Billing that can provide clarity, transparent calculations, and eliminate intra-period fee leakage
  • Unified Data that normalizes and centralizes for consistent, and reliable outputs

How Quickly Can Apex Silver Get Up and Running?

On your timeline, thanks to robust Restful JSON API and plug-and-play web widgets installed via code snippets. And we know you want to get integrated before the next tax season starts, so we’ll do most of the heavy lifting to minimize tying up your IT team. 

Talk About the Possibilities

Stop wasting your valuable time doing manual tasks, and start looking forward to more productive days at work. Start a conversation with an Apex Silver automation expert.

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Laura Cox - Writer for Apex