I suspect there is something else wrong here. If you're club has not made any investments yet, and has no income or expense, your unit value will not change. The number of units owned by each member will vary based on the dollar contribution each ...
Does anyone know how to reset the unit value of a club? We are just starting up and posting contributions (no investments as of yet) and payments among members have not been consistent and the unit values are all over the place. We would like ...
Recently, Nautica was acquired by VF Corpartion. Thus, the shares of stock my club owned were bought back. Now we are trying to update our accounts to reflect the buy back and the cash lieu amount, but I keep receiving errors. What should I do, ...
I would be very careful about doing this. Check your partnership agreement carefully. If your partnership agreement does not state that there is a specific contribution each month, then the members who are prepaying should get all of their units as of the date of ...
We have a couple of members who put in the full amount of their contributions for the upcoming year in a lump sum. What is the proper way to enter this transactions and how should i treat their payment entry each month? Thanks in advance.
Can you provide more information on the IRS request? If your member has a green card, s/he is a legal resident of the US and files an "ordinary" 1040 like any citizen. There is no "backup" withholding for partnership income. What I suspect may have ...
Two items - One - we have a green card member and I got a letter from the IRS that we had to do withholding. We have not had taxable income, but the letter said that didn't matter. What do we need to do? Two ...
Thanks again Al & Ira for the information. I'll like them know next month, maybe pizza will be served. B- Original Message Follows From: IraS1@aol.com Reply-To: "The Club Cafe" To: club_cafe@bivio.com Subject: Re: club_cafe: Ira or Rip--Please help! Date: Fri, 22 Aug 2003 16:06:25 EDT ...
Taxes are not $2, they are more likely to be $8 (25% bracket), but even so Allesandro's point is well taken. The impact on your members is negligible. My advice, however, would be to void the original check and reissue it to the church. Unless ...
It is only $30. Taxes are $2. Enter it as miscellaneous income and buy pizza for the next meeting and claim it as a learning expense. My 2 cents. Al Original Message From: Brian Lancaster [mailto:biglan@bivio.com] Sent: Friday, August 22, 2003 2:35 PM To: club_cafe@bivio.com ...
My club has an unusual situation. At the end of 2002 we made a donation to one of my club member's church. The donation was for $30 and in the form of a check. We also claimed this charitable deduction on our taxes. As of ...
In a message dated 08/21/03 12:43:46 AM Eastern Daylight Time, donald@bivio.com writes: We switched brokers and when one of our stocks was transferred we received cash for some fractional (0.25956)shares. How do you handle this transaction? Thanks Enter it as a sale of .25956 shares. ...
We switched brokers and when one of our stocks was transferred we received cash for some fractional (0.25956)shares. How do you handle this transaction? Thanks.
At one point when a member decided to pay their full dues for the year in one payment it also occurred to us that one member could attempt to "time" their contributions, buying shares at a lower value and end up with a greater share ...