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Online Clubs resources
For those of you in online clubs, what equipment criteria do you use? My club requires multiple sites and wants to share SSGs and other files. Virginia Cooper, California
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allowing Family trusts to be partners
Our club is considering allowing Family Trusts to become partners. The limitation to trusts that the partner is the sole grantor and trustee eliminates most of our members. What if we allow any revocable living trust, and add to the removal of a partner paragraph ...
3 messages
Trusts
A Grantor trust is different from a revocable trust and has a different set of rules. Don't confuse the two. Linda W. Sent via the Samsung GALAXY S(R)4, an AT&T 4G LTE smartphone Original message From: ira smilovitz <ira.smilovitz@gmail.com> Date:12/11/2015 1:42 PM (GMT-05:00) To: club_cafe@bivio.com ...
2 messages
Trusts
A revocable trust for a single person usually has no FID so it uses the Social Security # and does not need a 1041. All income reports on the 1040 individual return. Linda W. Pointe players Sent via the Samsung GALAXY S(R)4, an AT&T 4G ...
1 message
Trusts - Allowed or ...
Revising our bylaws. The ongoing dialog about trusts concerns me with complexity of issues. I would prefer to recommend that the bylaws forbid partners from titling in individual trusts. 1) is there recommended language for such a provision? 2) I prefer to keep the treasurer's ...
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Filing 2015 Tax Forms for New Club
We have just started a small family club with few members. We have $5.35 in dividends and interest. No realized gains or losses at this point. Am I still required to file with the IRS and issue K-1s?
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Cost Basis Reporting Terminology - Part 3
Finally one last term you'll see on your 1099-B: Covered Securities These are your tax lots that the new cost basis reporting rules apply to. Brokers are only required to report cost basis information to the IRS on covered securities. When you sell lots purchased ...
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Cost Basis Reporting Terminology - Part 2
Here are some more terms you will want to familiarize yourself with to better understand the forms you'll be handling when you prepare your investment club taxes: Tax Lot If you have purchased a stock at several different times, including purchases you make each time ...
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Screening for New Investment Ideas
Looking for new stock ideas for your investment club?A Our friends at Stock Rover have put together an article for you describing ways you can use company fundamental data on their site to screen for GARP stocks. 3 Ways to Screen For A Garp Stock ...
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Cost Basis Reporting Terminology - Part 1
As we continue our discussion of cost basis reporting, it is important to understand some of the terms you will encounter.A Here are some of them: 1099-B Form A form you receive from your broker at tax time each year that reports capital gains information ...
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Todays Rant about MLP's
Good morning, We try and try to get the word out to your investment clubs to stay away from investing in partnerships like MLP's.A Unfortunately,A clubs still find out the hard way that they are going to have to hire an accountant to help with ...
6 messages
Cost Basis Reporting History and Overview
When you sell stocks, you have capital gains and losses to report on your investment club taxes. The amount of the gain or loss is the difference between your adjusted cost basis and the net proceeds from your sale. Capital Gain/Loss = Net Sale Proceeds ...
1 message
CPST capstone turbine
Hello, I noticed that Capstone recently had a reverse split of 20 to 1. We had multiples of 20 now we have only a handful of stocks. Is there any hope for this kind of split showing a profit? And we were assessed a "reorganization ...
3 messages
Cost Basis Reporting - What You Need To Know
As investment club treasurers, one of the most important things you need to have an understanding of is cost basis reporting requirements. Over the next few weeks, we're going to post a series of informational articles here that will help you become more informed about ...
1 message
50 Unfortunate Truths
Number 1 on Morgan Housel's Unfortunate Truths list.A I think about this a lot: "1. Saying "I'll be greedy when others are fearful" is much easier than actually doing it." There are lots of good things on this list to remind yourself of on a ...
3 messages