Same as for individuals. You get to determine how much capital gain to report for a specific transaction. However, there are rules that need to be followed. You must notify your broker IN ADVANCE which shares you are selling and you must get confirmation from ...
In a message dated 1/18/2007 10:43:36 A.M. Eastern Standard Time, williamsbj@bivio.com writes: I'm in the process of evaluating bivio and myiclub for our clubs online accounting. One neat feature that I like on myiclub that I can't seem to find on bivio is a detail ...
In a message dated 3/25/2007 4:01:13 P.M. Eastern Daylight Time, cpapke@mindspring.com writes: We have a member withdrawing next month. Three questions: 1. I understand that we can transfer stock with the signature of one club member, does that member need to have a medallion signature ...
Hello, We had couple of members leave the partnership and received cash distribution. The distribution received by each member was greater than the initial investment they made, which means that it was a capital gain. Where should the member report this gain (short-term since partners ...
Hi my general partnership has invested in shares of SGU, SGU itself is a partnership and we got the K-1. How do I use the SGU's K-1? Should I enter the details of SGU's K-1 in 1065? How will the club member's K-1 be affected? ...
In a message dated 3/28/2007 1:08:53 P.M. Eastern Daylight Time, vish_ram@bivio.com writes: my general partnership has invested in shares of SGU, SGU itself is a partnership and we got the K-1. How do I use the SGU's K-1? Should I enter the details of SGU's ...
Just getting the hang of being treasurer. Let's say we institute a penalty fee for a late payment. John Doe is late with a payment and we charge him $20. He writes a check and it is recorded as a fee into the Brokerage account ...
In starting our club, we need to decide about setting valuation dates. Floating valuation dates are easier with AccountSync, but there are two problems I see - one minor, the other major. Minor - deposits made at different times in the same month may buy ...
Is there a way to generate a transaction ledger in chronological order for a specified period of time, other than a year, that is not broken down by cash account, investments, members, etc.? I like to pint of copy of each month's ledger and staple ...
In a message dated 4/1/2007 3:32:24 P.M. Eastern Daylight Time, itssuerb@bivio.com writes: What is the best way to buy out the shares of a withdrawing member. We would rather do this than sell any of our stock. Any advice would be great! You don't "buy ...
What is the best way to buy out the shares of a withdrawing member. We would rather do this than sell any of our stock. Any advice would be great! Thanks
When are foreign taxes paid on dividends? Each quarter we receive qualified dividends from CNI (Canada) and TEVA (Israel). Sometimes the foreign tax is included in the dividend statement and sometimes it's not! Shouldn't each quarterly dividend from a foreign security include a tax? Or, ...
Does account sync take care of splits? NKE split yesterday but it is not reflected in our account. How long does this take if account sync does it for us? My main concern is that we would have a bum evaluation if we used todays ...
Does the bivio accounting tax program handle a club's investment in a partnership such as Buckeye Partners LP (BPL)? Is the club's broker responsible in reporting to the club the correct taxes due when the club submits to them a copy of the K-1 received ...