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February 1, 2008 -

In This Issue:

Final Forms Available for State Tax Printers

ICLUBcentral has released the FINAL forms for the 2007 State Club Tax Printer software for both Club Accounting 3.1 and myICLUB for the following states: Arizona (AZ), California (CA), Colorado (CO), Iowa (IA), Maryland (MD), Massachusetts (MA), Minnesota (MN), Missouri (MO), and Wisconsin (WI). These are the official FINAL forms approved by the individual state tax agencies, and can be used to prepare and submit your club's state tax returns.

FINAL forms for the Federal Tax Printer software were approved by the IRS and released by ICLUB on January 23. FINAL forms for Georgia (GA), New Jersey (NJ), New York (NY), and Pennsylvania (PA) are still in development, and will be released as soon as possible. Until then, the software for these states will continue to only include unofficial DRAFT forms.

Club Accounting 3.1 Tax Printers can be purchased as either an online download or as a pressed CD -- now shipping. Tax Printers for myICLUB will be accessible under the Taxes tab on your website following purchase.

Purchase or Download

Learn how to purchase your Tax Printers at a heavily discounted price -- Special Pricing Extended!

Accessing the Final Forms

Club Accounting 3: After purchasing and installing the 2007 Tax Printer software, open Club Accounting 3 and click on the Taxes tab at the top of the window. Make sure you are connected to the Internet, and select "2007 State Tax Printers" from the drop-down menu. The Auto-Updater feature will then download the FINAL forms and you can prepare your club's taxes. All software updates are automatic for users. After purchasing and installing the 2007 Tax Printer software, make sure you are connected to the Internet and click on the Taxes tab at the top of the window. Select "2007 State Tax Printers," and the software will automatically access the FINAL forms, allowing you to begin to prepare your club's taxes.

Stay tuned to future issues of the ICLUBinsider and the homepage for updates on FINAL form availability.

For Tax Printer questions or concerns, contact the ICLUB Support Team.

Join the Club!
by Amy Rauch Neilson

Amy Rauch Neilson is a free-lance writer and editor who has specialized in writing about the stock market and investing basics for beginners for nearly two decades. An avid investor and former member of the Kix Investment Club, Amy lives in Belleville, Michigan with her husband and two-year-old son. Her "Join the Club!" column will be featured regularly in the ICLUBinsider.

Beyond the Crayola Challenge

In my last column, I encouraged your club to take on what I called the Crayola Challenge. Yes, I not only offered up the challenge, but I also actually assigned homework! Each club member was to identify three companies as possible long-term investment candidates for the club's portfolio. And there was a twist: though you were free to choose from any of the thousands of publicly-traded companies, the company's business -- product, service, or both -- had to be something you could illustrate for your partners in crayon.

Yes, that's right. I said crayon. This was not just a crazy idea that I dreamed up, but rather, this advice came straight from the mouth of investment guru Peter Lynch, whose mutual fund management results proved time and again that this maverick approach, well, it works.

So, how'd you do? If your club members took the challenge (and the homework assignment) to heart, you likely spent a good deal of time at your last meeting engaged in what felt like several rounds of the game Pictionary. It was probably a lot of fun and, for those of you who aren't so artistically-inclined, even a bit daunting. That said, what I'm really interested in is the answer to this question: Did the end justify the means?

If the experiment was a success, your club generated a list of potential stocks to study. Some of the ideas likely overlapped. Some of the ideas may have been off-the-wall. Still others may now seem so obvious that you don't know why you hadn't thought of them in the first place.

Back to the Drawing Board

So, where does your club go from here? If you haven't done so already, I'm going to recommend that you quite literally go back to the drawing board. At your next club meeting, list the names of the companies that the club generated on a dry-erase board or easel. If a recommendation for a company was made by more than one club member, be sure to indicate that -- perhaps by adding checkmarks after the company's name. Those companies may merit extra consideration.


February 1, 2008

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