Wealth Management Technology for Tax Compliance

Unsustainable wealth management K-1 volume, complexity, & manual data processing?

AI automation from K1x streamlines the entire workflow of the K-1 tax problem – from extraction to assessing tax impact to integrating with tax preparation and accounting systems for analysis and reporting. ​

K1x software helps you to collaborate more with your clients on their complete return-on-investment post-tax and expenses.​

Data on-demand
Data connectivity to other systems & processes
Ownership of work
Deep portfolios & asset class reporting and analysis
After-tax ROI analysis

Modern, cloud-based, AI tax technology for wealth management advisors facing higher alternative investment volumes


Wealth Management Advisors provide an invaluable service – creating plans to secure their clients’ financial future. 

These plans includes a clear view of the tax impact on investments. But in the area of alternative investments, this might be easier said-than-done. K-1 volume, complexity, & manual data processing not only muddies the waters relative to assessing tax impact, it causes your clients to incur significant costs to decipher the K-1 data and report this impact on their tax returns.

K1x is wealth management tax compliance software for alternative investments


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Wealth Managers Love K1x Tax Technology

“We needed something more robust. Now we have drag and drop and integration with important third-party software.”


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  • Inefficient, manual 990 process
  • Hired extra staff just to handle the work
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  • Adopted C-TRAC
  • Leaned on K1x Client Success team for support
  • Integrated with existing tax software stack
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  • Cut costs by insourcing
  • More time spent doing data analysis instead of data entry
  • Data changes immediately visible in PDFs
  • E-filing easily


Determine Your ROI

Reconciling every investment to the K-1s was a real administrative challenge for us. K1x was a huge help pulling in information because it took data entry off us. We love its ability to move data out of the wrong box into the right box–this eliminates the hassles with reclassification and eliminated data entry work.


It was huge for us to be able to use the select all and export all investments feature. This produces a large grid that has each level of input for each K-1. We can easily discover now whether the preparers picked up that information correctly. Did the intern remember to pick up a transfer to another fund in the tax basis calc? Maybe not, but K1 Analyzer definitely did.


Even just sorting each K1 from largest to smallest on TI in K1A (K-1 Analyzer) with one click and being able to add review steps as necessary to get a second set of eyes on material K1s on the fly was a big win for us.


Some tax software providers don’t allow more than one preparer in a return at a time. With high net-worth clients for example, this leads to returns being inaccessible while one preparer locks the return up for long periods of time just to work on the multitude of K1s those clients tend to have. With K1A (K-1 Analyzer), we can do an extremely detailed job on the K1s on K1x’s platform while the rest of the return process continues within the tax return software.


There is an astonishing amount of information you can get from the software without even realizing it. Everyone from the IRS to the software providers to the preparers had problems with the K-3 last year. We didn’t mean to use K1A (K-1 Analyzer)for it, but after tax season we wanted a really detailed view of our income breakout by K-1 and income category and it turned out K1A had brought most of that data in without us even knowing with a separate section for K-3 pivots.


K1A (K-1 Analyzer) scans the whitepaper and breaks out line items that end up summing into one number on the tax return, gives you a reclass column so you can maintain a record of how it was originally reported to you, and then lets you run reports on all that info. That combination of features has given us tremendous flexibility in our workflows, including tracking QSBS benefits and making sure that info makes it into our tax basis calcs and is reported correctly across all jurisdictions, and 988 tracking for our reportable transactions process.


Tax software providers know that inflexible and hard to get to data can cripple a tax firm that prepares complex tax returns. Why PDFs are still universally used for communicating standardized datasets beats me. I hope one day I’ll be dragging and dropping a completely different file type like an XML into K1A (K-1 Analyzer). Until then, tax software providers have three major offerings as part of their return preparation suite. One package to read in source docs, another to prepare and file the return, and then at an exorbitant charge for a fast-growing sector – another package to analyze your own data you just entered into the return. Having K1A to knock two of those out at the same time is great, and a much preferrable option since the analytic packages from the tax software providers are only going to let you run reports on data that’s already significantly watered down to only what’s necessary to file a return while K1A tracks an absurdly larger number of data points.


As tax preparers, our involvement with the returns don’t stop once we file the return. We have to be prepared for audits and answer a variety of questions that aren’t immediately apparent from just the sums that show up on all our returns that didn’t require a statement. For example, just the other day we were asked for a reconciliation for backup withholding from a state jurisdiction. It took just seconds to run the report in K1A (K-1 Analyzer) and display that data rather than spend hours combing through the K1s or K1 input in the software where a separate workpaper or tax return detail export wasn’t available. Being able to really understand your tax data and pivot on whatever kind of information you need rather than just inputting it, makes it possible to quickly find the answers when questions like the above come up.


With the flurry of new tax laws coming out in recent years, I’ve seen tax software providers struggle just as much as preparers to get the new rules right in their platform. I make sure to read every set of release notes throughout tax season for our software and sometimes see them fixing items that have been calculating wrong for years. 461(l)* has special rules for capital gain net income attributable to a trade or business, and to date I don’t see that treatment on that unique type of income being applied correctly in our software and requires manual overrides. The detailed reporting and exports we can get from K1A make calculating this easy, even when we don’t find out the software is doing something incorrectly halfway through a return.