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Strategies & Market Trends : A.I.M Users Group Bulletin Board
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To: ubrx who wrote (12963)9/28/2000 12:59:52 PM
From: LemonHead  Read Replies (1) of 18928
 
Hi James,

P.S. Do you recommend a software program designed to make an AIMer's tax form easier to file?

I started the year with Quicken 2000. It took me about two months to get it down pat. Now I enter my trade tickets at the end of the month when I receive my statements to assure that everything balances. I average over 20 trades a month in four accounts and it takes me about an hour to enter the data in Quicken.

I especially like the Capital Gains Report and The Tax Summary Report which I print out once a month. As Bernie & Tom have stated about minimums, those two reports shocked me when I first viewed them. I woke up to the fact that some of my AIM trades were generating more for Uncle Sam than me. Now my AIM trades are more profitable because I'm forced to review the facts every thirty days.

The other thing I found was that some of what I reported in the past wasn't 100% correct due to a lack of understanding on my part and my accountant. Now I know when I hand him the report that everything is exact.

Personnally, I wouldn't AIM without using one of the popular finance management products. Like Tom, I used a spread sheet prior, and Tom needs to make the move because it is so much simpler this way. It would take quite a bit of initial work on his part because he has had most of his holdings for so long.

FWIW
Keith
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