Contributor: Past Author - Richard Hulit

Beginning Jan. 1, 2011, cost basis reporting will be mandatory for all brokers executing transactions that involve publicly traded securities. This may prove to be easier said than done. You must address technology and data issues now if you are to ensure future compliance with the regulations. But cost basis is not just about tax systems or even compliance. If it is approached the right way, this challenge may actually help increase efficiency, strengthen customer service and foster transparency. ... read more