In 2005, the Internal Revenue Service (IRS) attributed the tax gap for 2001 to taxpayers misreporting $11 billion worth of capital gains or losses. The Government Accountability Office (GAO) was asked to analyze the misreporting and the actions the IRS takes and to suggest ways to improve taxpayer compliance. The GAO ultimately recommended that brokers be required to report cost basis information to the IRS.
There have been many interesting experiments in the options brokerage space. Firms have offered unique tools, platforms and even products in an attempt to lure new customers. But none of these experiments were as novel, or generated as many questions from our readers, as the flat rate commission offered by OptionsHouse...
In this episode, Mark is joined by Mike Tosaw, Financial Advisor, Know Your Options Inc. Mark and Mike explore several different ways to implement options into equity portfolios. They also discuss the common mistakes made by retail option investors and the rise of arrogant condor traders.
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