Here is another example of insider trading involving friends, relatives, and family members (see Rhino Trading Ruled Illegal - Regulatory Issues - CFO.com). It costs Mark Michel, a registered representative of Wachovia Securities, '$277,881 in illegally received profits' and 'prejudgment interest of $68,307.'
Timing is very important for trading stocks. Yet, you need document your research to show that any tip you overheard has no substantial bearing on your trading strategies. In most cases, some other channels may already discussed similar matters, which is true for Mark Michel who read 'a magazine article about it just four months earlier.'
The same is true for tax audit. You can get through audit fairly easily if you could show documentation for deductions you take with a reasonable basis.
Technorati Tags: risk, investment, insider trading, information, minimize risk, tax deduction
Timing is very important for trading stocks. Yet, you need document your research to show that any tip you overheard has no substantial bearing on your trading strategies. In most cases, some other channels may already discussed similar matters, which is true for Mark Michel who read 'a magazine article about it just four months earlier.'
The same is true for tax audit. You can get through audit fairly easily if you could show documentation for deductions you take with a reasonable basis.
Technorati Tags: risk, investment, insider trading, information, minimize risk, tax deduction
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