The Recap Tax Report disclaimer:
"You should seek the advice of an accountant or tax professional before submitting a tax return using this information."
We often get asked if the disclaimer means the tax report isn't correct or can't be trusted. The Recap tax calculator is extremely accurate, it is used and recommended by tax professionals.
We have selected the best pricing providers to ensure we have reliable pricing valuations, (we actually use two, so there is always a backup in the case that one does not recognise an asset).
We go to great lengths to deliver high accuracy, using more decimal places for prices to make sure low price/high circulation assets are more accurately valued.
So why do we feel the need for a disclaimer?
We cannot provide advice
Primarily we need a disclaimer because we're not accountants and can't provide 'advice' so we can't tell you what to report.
Your report is as good as your data
The reports you export from Recap are only as good as the data that's been added. It's the user's responsibility to ensure that the data is accurate, which might require accountant support.