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Procedure to "Opt Out"
There have been questions from clubs on how they will opt out if their clubs are eligible to do so. There will be a place on the form 1065 where you will indicate that you want to opt out. There will also be a new ...
7 messages
Revised partnership agreement
If we use the sample agreement, do we use the original date of partnership, or the date we start with the revision? Or effective as of revision date, revision 1 (if we haven't revised before). Thanks for your help Mary Fran Novak Frisky Business Investment ...
2 messages
Wording for partnership agreement
Does anyone have suggestions for the wording in the partnership we need to add for the new audit rules? Colleen goings treasure..Women of WAuneta investment club.
6 messages
Club Disbanding
Some questions: 1. How does a club notify the IRS of the date of disbanding? 2. Can you use IRS form 7004 to request a 6 month automatic extension for filing the clubs 1065 form? (our Treasurer is taking an extended vacation) 3. I think ...
6 messages
tax basis on partial withdrawal
Is there a tax consequence on a partial withdrawal if the withdrawal has not exceeded the cost basis
5 messages
Payable on Death
Can a partner make his interest in an investment club payable on death to an individual or trust? Has anyone done this? Thanks, Scott
5 messages
Partnership Representative--verbiage for bylaws change?
We are wondering if anyone has copies of verbiage they have used for defining the position of Partnership Representative in their bylaws. We would appreciate not having to reinvent the wheel if the wording already exists and could be shared with us. Thank you, Rita ...
19 messages
disbanding
Double check the disbanding rules with IRS. I thought there was a new rule about needing to file a return within so many days after disbanding. Sent from my HTC Reply message From: "John Rice via bivio.com" <user*24380400001@bivio.com> To: <club_cafe@bivio.com> Subject: [club_cafe] disbanding Date: Mon, ...
3 messages
disbanding
We are thinking of disbanding this year I am thinking of doing it in Nov or early Dec. Convert every thing to cash and distribute at end of year. Problem our membership in BIVIO is up in Nov. Is there a prorated membership to get ...
3 messages
Investment Clubs using www.folioinvesting.com as their online broker
Gentle-people: I have interacted with a small group of people (all of whom have used www.drivewealth.com as their broker), and I am exploring the possibility of us creating an investment club using www.folioinvesting.com as its broker. On their and my behalf, we would be very ...
8 messages
Email Housekeeping
Hi All, Do you or any members of your club have an old email address associated with your bivio account? Want to update it? Here's how: Updating Your Email Address Let your club members know too.A It's a cool activity you can do on a ...
1 message
Best Brokerage Company
Hello, My investment group is Affluent Alliance LLC. We were wondering which brokerage company has the best service. We recently signed up for Bivio and were trying to decide. Any help would be most appreciated! Thank you!
23 messages
Income Taxes for Indiana
One of the members of the Model Club of Northern Virginia moved to Indiana. She resigned from the club 1 A1/2 years ago. The club has recently obtained equipment to have members join the club meetings online and she would like to rejoin, but she ...
3 messages
Beneficiary forms
Wondering if you use beneficiary forms? If not how would you handle the situation. If you do, could you share. We have had our club 20plus years and have used a form but we need something more. Thanks Judy Chagnon
16 messages
Club portfolio date for paying withdrawing member?
Can anyone tell us at what date (e.g. month end following member's written request to withdraw?) a club should value its portfolio in order to pay out a withdrawing member? If there is more than one answer, what is the common/ best practice for clubs? ...
9 messages