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IMS Tax Preparation Guide 27 everyone By Helen L. Call Copley News Service "You're just not going to make it in the '80s without your own little com­ puter." How many times have we heard that? Is it true? Yes and no, says Dennis Costarakis, a broker and certified financial planner who also evaluates investment soft­ ware for Creative Computing magazine. Costarakis has been involved with computers for about as long as they have been a big thing in the investment business. Is it necessary to have your own computer to keep up with the pro­ fessionals in the market? Costarakis's answer to investors: Be sure you have work for the computer to do that you can't get done easier somewhere else. And be certain you have the time and patience to learn what you'll need to know to run it. "Don't go reinventing the wheel," said Costarakis. "Brokers can provide lots of the service you are looking for. And you can get it free." Instead ol duplicating professional efforts, said Costarakis, "determine what information you need and see if it is available from a broker or a charting service." If there's still room for a computer in your plans, he said, start shopping by making a list of everything you can think of that a computer could do for you. Then break up the list into three categories: First, what you must have from the computer you get. Second, those things that would be desirable. Third, those features that would be nice. "If you are now doing things by hand, such as charting stock prices, following the Graham-Dodd method or technical analysis, make a not of what you are doing and get it down on the list," Costarakis said. "You want the computer eventually to save you time in doing these things and increase your accuracy. Initially, it's going to take more time because you have to learn how to operate the computer and how to use the soft­ ware." At this point, start reading the ads and compiling a list of software that seems to have the capabilities on your list. Send away for decriptive brochures, sample printouts and any other information the manufacturer can provide, perhaps even a copy of the table of content of the manual. Round up reviews of software packages. Microcomputer magazines review new programs. Costarakis said, "As good and helpful as software reviews are, there is no substitute for actually trying the software yourself. It is very important to try a program before buying it." He advises locating a store in your area that stocks the software programs you are considering. Go in at your leisure and ask to run and test the pro­ gram before you buy it. "Be sure the hardware configuration is the same as yours, "tie warned. Take along samples of the problems you will want to solve on the computer and try to determine whether the pro­ gram will do them or whether it will have to be modified to suit your situa­ tion You don't want to have to buy a se­ cond program to accomplish things not in the first one. If you want the computer to handle your tax program, bring in last year's computations and run them on the equipment to see if it is handling the numbers accurately. After the software is selected, look at the hardware that will handle these particular programs. When you are ready to buy, deal with the local store that has given you the most assistance, advises Costarakis. You can't get that from a mail-order store and sooner or later you'll need some kind of help from your local com­ puter source. At this point, the work is only beginn­ ing, he said. "People think when they get a computer that it is the answer to their problems. But initially it's just a lot of frustration. "It takes a lot of work at the beginn­ ing. But eventually, the computer saves iime and will let you do a lot more in the time you have available." Costarakis noted that home com­ puters have proved most valuable in portfolio management, technical analysis and option strategies. vnA is a Volunteer Income Tkx Assistance program. Its volunteers may be able to help you to CQmplete your tax return. Check with the IRS for details. \ P I H I l ( S F R V I C t M K S S A O K F R O M 1 U K I N T K R N A L R E V E N U E S E R V I l E IS YOUR BANK PAYING YOU THE HIGHEST RATE POSSIBLE ON YOUR SAVINGS? A NEW REGULATION EFFECTIVE JANUARY 1, 1985 ALLOWS YOUR BANK TO PAY MONEY MARKET RATES ON AS LITTLE AS $1,000. •Subject to limited withdrawal*. •Service charge if \ minimum is not maintained. •FDIC Insured * •Applies to personal Money Market Deposit Accounts. S-- UM Today For Dotalla ~ r 7 W W " l T B w a 7 " "•« , f i . i F i l R S & y . - i NATI0NAL1BANK OF MARENGO i lot N. 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