how/where do I post each member's monthly contribution? If I post it in accounting, it is a duplication from the auto sync transfer from the bank. I want to make sure each member gets a full and proper accounting. Thanks
As long as your investment club doesn't invest in another partnership (LP, PTP), it doesn't have to file a VA-502 return. See the instructions for the form, http://www.tax.virginia.gov/taxforms/Business/Corporation%20and%20Pass-through%20Entity%20Tax%20Forms/2011/502Instr.pdf . Ira Smilovitz In a message dated 2/1/2012 6:48:41 P.M. Eastern Standard Time, gjenner1@cox.net writes: Do you ...
2011 Tax Program Released! The 2011 bivio Federal 1065 Partnership tax program has been released and is now available for your treasurer to use by going to Accounting>Taxes Just a reminder that we recommend you wait to file your investment club taxes and distribute K-1's ...
My 1065 has a total $, and it is divided up to our members equally. But, when I add the K-1's up it is higher that the total on my 1065. I know why, but I'm curious if this should be addressed or leave as ...
You don't have to worry about rounding errors. Ira Smilovitz In a message dated 2/1/2012 1:33:01 P.M. Eastern Standard Time, wrobe73928@cox.net writes: My 1065 has a total $, and it is divided up to our members equally. But, when I add the K-1's up it ...
There is no easy way because commissions are part of your cost basis/sales proceeds and fees are expenses. You'll have to go through your transactions and identify the amount and add them yourself. Ira Smilovitz In a message dated 1/29/2012 11:25:35 P.M. Eastern Standard Time, ...
I hope by now that all of you are aware that there are new cost basis reporting rules. We did a presentation about it in November: Cost Basis Reporting Changes We've been interacting with various brokers for various reasons related to the changes. I have ...
Good morning everyone, I hope you don't mind, but I had to put Facebook IPO in the subject line for this post. It is and will be the in thing to do for a while if you're someone who writes content for the internet. If ...
On our home page, you'll see a list of the top 10 most commonly held stocks by bivio clubs. If you click on any of the Tickers, it opens a research page with useful links for you to use if you're following any of them. ...
TDAmeritrade requires the (TDA) account number on each check so that they know what account to deposit the funds into. The penny system doesn't address TDA's needs. David needs to check with TDA about whether they'll accept checks without a deposit slip. My club collects ...
Hi, I am setting up a new investment club in Feb. using TD Ameritrade as our broker. I plan on having my members submit their contributions directly to the TD account having them list our account number on their checks. I plan on having that ...
If I understand your situation correctly, you deposited $25 into your bank account (via an automated transfer) but never entered that deposit into your accounting software. This led to a $25 discrepancy between your checkbook/bank and your accounting records. If so, the easiest way to ...