auditing your returns

Discussion in 'Professional Trading' started by praetorian2, Jun 29, 2002.

  1. JayS


    Which one did you purchase?

    How to Start Your Own Private Investment Partnership by Fiszel and Peteros


    Understanding Partnership Accounting: A Guide to Investment Partnership Accounting by Advent Software

    Trying to decide if I want to spend $300+ for the 1st. Tried inter-library loan, haven't heard back yet.
    #41     Jul 9, 2002
  2. Also, for you equities traders who run hedge funds/partnerships. Are you market to market for taxes, or just normal accounting. What is the advantage of mtm. I plan to be about 40% long term (at least 1 year holding period) and 60% very fast term scalping (50-200% turnover monthly). What is best for me to use for tax reasons.
    #42     Jul 9, 2002
  3. Js, I bought the second one. I'm wondering if I should ask about their software? Aaron, do you use anything other than quicken. It seems absolutely impossible to do the taxes and allocate the longer term gains to the partners if I have changes in capital %.
    #43     Jul 9, 2002
  4. Anyone here know the answers to these questions?
    #44     Jul 10, 2002
  5. Aaron, what company do you use for your web hosting. I also noticed that you don't have a link for your fund anymore. Is there any reason that you removed it?
    #45     Jul 20, 2002
  6. Aaron


    I use -- just $5 per month as I recall. They are free if you don't mind a banner ad at the top of your pages.

    Baron told me to leave the link to out of my signature. You only get to put a link in your signature if you are a paying advertiser on EliteTrader.
    #46     Jul 20, 2002
  7. Have you been generally content with netfirms? It's much cheaper than verisign. How hard was it to learn to program. If i'm poor at computer stuff, do you think it would be better to just use the verisign thing which looks more user friendly? Once again, thanx for all your help.
    #47     Jul 20, 2002
  8. Aaron


    I don't know what Verisign thing you are talking about that is user friendly, but Netfirms is just for web hosting. If you use Netfirms you'll have to do your own web design with something like Frontpage or Dreamweaver offline. Then you just publish your web to Netfirms.

    I've been very happy with Netfirms and has never been down, at least as far as I know.
    #48     Jul 20, 2002
  9. Aaron- Where did you get the templates that you used for your regulatory filings? (Limited partnership agreement, Disclosure Document, Exemption Statement, Confidential Offering Questionaire). I would like to use a version of them that is appropriate for equities and then make the appropriate changes for my fund's specifications.

    - Also, I asked my accountant about a website similar to yours. He said that it was in a gray area and that it may not be legal. I'm going to inquire more about it though.

    -Thanx in advance again.
    #49     Jul 24, 2002
  10. Aaron


    The Schindler Fund disclosure document template is the NFA publication "Disclosure Documents: A Guide for CPOs and CTAs". This publication won't be very useful for you if you are only trading equities.

    The partnership agreement and questionnaire don't have specific template sources. The exemption statement is specified word for word by the NFA.

    I recommend you talk to a securities lawyer for help forming your hedge fund.
    #50     Jul 26, 2002