Here's Something Scary
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Here's Something Scary Starting this year, a new tax program is being phased in which requires your broker to report your capital gains to the IRS. What does that mean for your investment club? It means there is an additional reason the information on your club tax return will need to be correct. The IRS will now have something to check it against. In our experience, brokers have not done a very good job of calculating this information correctly in the past. Fortunately for your club, part of the service we provide is to help you make sure it's tracked correctly in your bivio records. You may find you'll need to work with your broker to make sure their records are accurate. For example, you'll want to make sure you know how they're doing their calculations. Brokers are now offering different options for calculating capital gains. The IRS specifies default options but we've already found one broker that is incorrectly offering another one as a default. Cost basis tracking and the new capital gains reporting rules will be the topic of this months Club Meeting Meeting Presentation on Thursday, November 3 at 8:30PM ET. We'll be discussing what that means, what you need to be aware of and how it might affect your investment club. Register now at www.bivio.com/club_cafe Nothing to be scared about. All you need to do is make sure you're informed! -- Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio I am not available to listen in on 11/3. Will this discussion be available on the Bivio website later on? From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Laurie Frederiksen Starting this year, a new tax program is being phased in which requires your broker to report your capital gains to the IRS. On Mon, Oct 31, 2011 at 12:05 PM, Marlene Fondrick <marlene@fondrick.net> wrote: --
Yes. We will post the presentation on the Club Meeting Meeting page, www.bivio.com/clubmm We will also try and make and post a recording of the session. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Wonderful!! Thank you. Once again, Bivio comes through. From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Laurie Frederiksen On Mon, Oct 31, 2011 at 12:05 PM, Marlene Fondrick <marlene@fondrick.net> wrote: I am not available to listen in on 11/3. Will this discussion be available on the Bivio website later on?
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