Sent 01/25/2002
If you are a regular in the Club Cafe, you may have noticed that year 2001 IRS tax features were released last week! The tax features make it a breeze to print the required Form 1065, and the K-1 Schedules for each member, as well as any Supplementary Schedules needed.
If you are subscribed to any of the bivio services, your club already has access to tax features. Club Officers should visit the "Taxes" tab under Accounting. If you aren't subscribed yet, you may want to consider the tax season only subscription for $19. It gives you access to bivio during the tax season only. Let other clubs know about this offer - you'll receive 20 bivio Bucks for each referral!
Don't delay your club taxes, as club members will need a copy of their K-1 before they can submit their own individual returns. You should, however, wait to receive year-end statements (1099 forms) from your brokerage and bank, so that you can compare the reported amounts to bivio. The year-end forms are usually mailed before the end of January.
Year-end Reports.
Once you've received all account statements, including year-end statements (or 1099 forms), it is time to review your 2001 club books. You'll want to reconcile balances, and generally check your records against statements. The bivio reports make it easy.
Here is a short list of year-end bivio reports:
• Valuation Report
• Income Statement
• Capital Gains and Losses Report
• Member Contributions and Withdrawals Report
• Income and Expense History Report
• Transaction History Report
Free Discussion Clubs.
Mail and Files features are free! We realize that some clubs are just getting started, or use bivio for discussions, web pages, and file sharing only. We want to remind you that these features are free - discussion only clubs need not subscribe to use bivio.
Besides exchanging emails, you can upload any file to your club on bivio, and keep files organized in folders. Upload your club partnership agreement, club bylaws, articles on investing, stock analyses, and pictures of your club events.
By including Web pages in the Files area of your club, you can easily create your own Club Site on bivio. Web page files should end with ".html" (or ".htm"). The special file "index.html" is your club home page at http://www.bivio.com/your-club-id. You'll need to designate these specific files as being public if you want visitors to be able to access them; all other club information remains private.
