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Yeah, But How About Non-Refundable Fees
No sooner is the cyber space ink dry on my final, definitive treatise on fees than a reader chimes in, Yeah, but how about non-refundable fees. Our agreement calls for a $100 non-refundable fee to be paid by all members when they come into the ...
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Fees - Once More Into the Fray
Entering members' fees continues to create confusion for club treasurers. Although we have written other columns on this subject, I am going to try, once more, to shed some light on this difficult topic. We are talking, here, about fee assessments against members, which will ...
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Basic Accounting Concepts
Some users are having trouble figuring out how to enter certain transactions. Maybe I should dwell upon a few basic concepts in investment club accounting. When you go to Accounting in bivio, there are five different sections from which to choose - Accounts , Investments ...
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Your club account as an IRA????
Recently several people have asked about IRA's within an investment club. For example I would like to find out on how to set up IRA/Roth IRA account and offer this benefit of tax deferrel/avoidence to our club members. I understand each one of us can ...
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Beardstown Ladies
A reader recently wanted to know where to start in researching the Beardstown Ladies Any research of the Beardstown Ladies should start with their book The Beardstown Ladies' Common-Sense Investment Guide : How We Beat the Stock Market-And How You Can, Too You can get ...
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Monitoring Committee for Emergencies
A reader raised the question of whether or not a monitoring committee should be set up to react quickly to unfavorable news about one of the holdings of an investment club. This would only be for an emergency situation. We were thinking of a core ...
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Investment Club Liability
Margaret Eskew writes Given the litigious nature of our society, what vehicle can an investment club use to protect individual members from being sued for the debts of other members of the group? Is a limited partnership or an LLC the safer vehicle? No argument ...
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Compufest 2000 - Personal Reflections
I thought it might be interesting for readers of this column to get a look at Compufest 2000, which was just held in Albuquerque, through my eyes. Understand that this is strictly how the affair struck me. It is not intended to be an impartial ...
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Bank and broker issues for a new club
The following was sent to the Trez_Talk inbox. It brings up some valuable considerations for a new club. Guy Russell wrote, I thought we planned our group very well, but we seem to keep hitting alot of obstacles. Maybe these questions are some that others ...
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Accounting Software for Investment Clubs
From the Trez_Talk mailbag Our club is organizing and we have all the legal/tax stuff done. Accounting software is our next priority. Can you recommend software from a company other than NAIC which costs $ 211.00 for non Members ? Sure! You can do your ...
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Getting Started: Establishing a cash/checking account for an investment club
Debbie Brown wrote We are just getting started on setting up this club. I want to know how we set up our money accounts so we may begin the investment process. I haven't seen this section. As a beginner in this I need all the ...
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Petty Cash and Deductible Expenses
Deductible expenses with or without the use of petty cash continue to be a source of confusion for many investment clubs. Let's take the topic of petty cash first. As originally envisioned by the NAIC accounting manual, petty cash was not to be used for ...
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Fees and Administrative Expenses
Few accounting topics cause more confusion than the use of fees and administrative expenses. This is an attempt to clear up a few common misconceptions. When a member makes a contribution to the club, it can be classified as either a payment or a fee ...
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Fidelity Bond.......Should a club have one?
Brittany asked, I recently attended a club accounting class and the topic of bonding the club treasurer came up. What exactly does that mean? (and how do we do that?) Also I've heard reference to the NAIC offering bond insurance to clubs Would you recommend ...
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Who Should Pay the Tax on Members' Withdrawals
I had a question about member withdrawal. We have nine members leaving. I understand that when we sell our stocks to pay off the other members we will incur long term or short term capital gains taxes. These taxes will be split among all of ...
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