The biggest mistake regarding record-keeping is not writing things down or not remembering where you wrote it down.
More Quotes from David Mellem:
The biggest problem is people don't keep good records. If people kept better records, they'd save money.David Mellem
Lower taxes are great, but if its going to cost you money, it's not worth it. If a stock hits your sell range after 3 months, do you really want to risk 9 more months of fluctuation to get a lower tax rate
David Mellem
They've been promised the lollipop but now they'll just get the stick. This year, that'll be an issue. The number of AMT payers is going to grow very rapidly.
David Mellem
You're going to need all that information to determine cost to calculate your gain or loss at a later date.
David Mellem
Once you've done the sale, the only way to fix that is with a time machine. But you can take steps to minimize the (tax) impact.
David Mellem
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