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Brokerage Requirements
I'm in the process of helping a new investment club get started. We've started to investigate brokerage account requirements (TDA and Scottrade, so far) and some of the answers I'm getting from brokers are not what I anticipated. In particular I have the following questions ...
10 messages
Electronic Transfers Versus Electronic Bill Pay
There is consistently confusion between these two things. All of the brokerages I've dealt with in clubs allow you to use Electronic Bill pay from from a members bank account to send a check to your club brokerage account. To set this up, ask your ...
1 message
LKQ
There is no right answer. People in the club have different tax situations and different needs. If the club has realized losses or wants to get rid of a losing stock I would go with selling the earliest shares so the gain offsets the loss. ...
3 messages
LKQ
Hi, My club purchased 100 shares of LKQ back in Nov 2008 at $9.42. In addition we purchased 50 shares in 2009 and again in 2011. The stock has done very well and split in Aug of 2008 giving us 400 shares. We want to ...
3 messages
Stop Loss Orders
Just wanted to know does your club use Stop Loss Orders. If so what percentage from current price do you have it set
8 messages
Non Monthly Treasurer Tasks Presentation and Recording
Hi Judy, Yes.A You can find a copy of the presentation and a recording posted here: Non Monthly Treasurer Tasks On Mon, Jun 2, 2014 at 1:10 PM, Judy Tallman wrote: Laurie, Is the Sunday session posted where I can print am copy of the ...
1 message
Is there a special tax form when disbanding a club?
We're disbanding after 17 years. No sympathies needed, we're all good with it. Your excellent advice says "The ability to prepare partial year returns is made available sometime in May" but I don't see any special procedure to follow. Do I just use the regular ...
2 messages
Is there a special tax form when disbanding a club?
If you filed a general partnership some counties require that you file a termination paper which usually is associated with a fee. I think you also have to file a 1065K and check the box final or terminal. You can and should complete the K-1's. ...
1 message
signing brokerage application form
When investment club opens brokerage account as general partnership, some brokerages asks to sign brokerage application and agreement by ALL members. That's ok at beginning. But if a new member joins later on, they ask again to sign form by all member including new one. ...
2 messages
units and contribution
In unit based system at beginning person A contribute $200 to get 10 units. After six months of growth in stocks value of those unit become $250 or $25 per unit. Now person A want to add $500 more as capital contribution. Should he get ...
3 messages
Unfair taxation of mutual fund investor (and IC)?
Read about unfair taxation in mutual funds. This can very well happen to Investment club also when some member withdraw money. Club as collective efforts is very similar to MF. http://online.wsj.com/news/articles/SB10001424052702303393804579311062915642246 http://www.marketwatch.com/story/tax-law-is-unfair-to-mutual-fund-investors-2010-03-28
3 messages
Is a Withdrawal an Investment Club Expense?
Don't forget,A you have an opportunity this Sunday evening to participate in a live webinar discussing the answer to this and other mysteries your investment club treasurer only needs to address every now and then. Since you don't have to handle them regularly, it is ...
1 message
An Interesting Way to Think About How Your Investment Club is Doing
If the swings in stock prices scare your investment club, maybe it's time to think about how you're doing in a little different way.A This perspective from Morgan Housel is interesting to think about: The Only Daily Market Update Worth Paying Attention To Laurie Frederiksen ...
1 message
Bankruptcy
Sometimes you'll own stock in a company which files for bankruptcy.A A recent example is Patriot Coal.A It's original ticker was PCX.A Some of you may have received shares when it was spun off from Peabody Energy (BTU) in 2007. In 2012, Patriot Coal filed ...
3 messages
Private Investment Club?
Please correct me. I assume by default Investment Club is a public company if it is seeking a membership. or is it a "private investment company" as per SEC definition? Is it possible to register my XYZ investment club as XYZ Private Investment Company? I ...
2 messages