It's almost tax season again. Just about time to close out another year and move on to next year. But wait! Before you throw all those 1099's, bank & brokerage statements, and a copy of the club's tax return into a folder and forget about ...
A question about individual dues to NAIC has been raised. I have become the treasurer of a newly formed club and have a question about year-end distributions. At the first meeting in October, we all contributed $20 towards start-up fees (i.e. no valuation units distributed) ...
It's that time of year again, and here is a question that keeps cropping up. Since there is a limitation on deductibility of investment expenses, none of our partners will benefit by taking this deduction. Yet the tax basis of each partner's interest in the ...
A reader recently asked about screening stocks. My club has a portfolio of large cap stocks. We would like to add some small and mid cap stocks, but don't know how to find them. We've heard that marketguide.com can help, but I find their criteria ...
Some companies offering Dividend Reinvestment Plans (DRIP's) pay expenses such as commissions and fees on the behalf of plan participants. These commissions and fees, which are paid by the company, are considered by the IRS to be additional dividend income for your club in the ...
Direct from the Trez_Talk mailbox Three friends and I are going to start an investment club as of the new year(1/1/01). I am curios since I will be in charge of the club if we should actually start a club and file a tax return ...
Steve recently asked We dissolved our Club in July 2000. As treasurer, I would like to know if any special return needs to be filed or what tax agencies need to be notified to insure no further actions or liabilities can be brought against any ...
Aaron wrote My club has expenses for our post office box which are paid twice a year. We also have interest income from our money market account. It seems that our membership is being hit unfairly during these times when we look at the member ...
A reader asks about the necessity of filing a partnership income tax return. Names have been omitted to protect the innocent <g>. Is there any way that a club can get out of having to file those silly 1065 K1 forms? We got hit with ...
A reader asks Rip, you are always advocating never to use the petty cash account. As a matter of fact you wrote a column to that effect at Petty Cash and Deductible Expenses http://www.bivio.com/trez_talk/mail-msg?t=1840500003 Now, I am hearing rumblings that Petty Cash may be all ...
A bivio user recently asked As club treasurer, I proposed to move all our drips to our Buy and Hold Account. I met resistance from a few of our members who questioned the safety of Buy and Hold and our putting all our eggs in ...
Steve Denman reports that he has read my articles on spin-offs, and has entered the data on the Lucent/Avaya reorganization in both bivio and NCA. He reports a difference in the gain on the sale of fractional shares, and wants to know why. He says ...
This is part of a continuing series on entering Spin-Offs and Mergers in bivio and NCA. On October 25, 2000 Wells Fargo & Company [WFC] and First Security Corporation [FSCO] completed a merger where shareholders of FSCO received .355 shares of WFC for each share ...
This is part of a continuing series on entering Spin Offs and Mergers in bivio and NCA. Lucent [LU] spun off Avaya as of 10/1/2000. Lucent shareholders were to receive 1 share of Avaya for each 12 shares of Lucent owned. The tax basis for ...
I just got back from NAIC Chapter Fair in Denver. bivio had a booth there. In preparing for the event, I was forced to reassess bivio's progress in developing its club accounting program. So I hope you will excuse me if I digress for a ...