Don't forget! Next weekend is Audit Party weekend. It's a great time to schedule your investment club's Audit. If you don't know how to do one, we're offering a webinar on Saturday, January 24 at 1PM ET that will show you how: Sign Up Now Here are 5 great reasons to make sure you do an audit: 1. The Bermuda Vacation Factor
It rarely happens but it's always good to know your club isn't funding your treasurer's beach vacations unless you're going out of your way to show them how much you appreciate them.
2. The Garbage In - Garbage Out Factor
Without correct records, your club won't be producing correct tax forms. Just because there are a lot of numbers in bivio and it's easy to generate filled in tax forms doesn't mean they are right.
3. The Self Interest Factor
You have an investment in your club. Don't you want to make sure your account is being tracked correctly?
4. The Demystification Factor
If all the members of your investment club have some understanding of how your clubs records are kept, you won't complicate your treasurers job by asking them to handle things that will make your club record keeping difficult or even impossible.
Member who participate in audits are often heard to exclaim that they have found the process very interesting.
5. The Ostrich Factor
Everyone in your investment club is responsible for correct taxes being filed. Assuming that what you don't know can't hurt you and placing all the burden on your club treasurer is not a way to avoid this.
Hope to see you online next Saturday!
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