Ruth asks a very good question . This last year, we had five members withdraw at, or around,the same time. The actual "bookkeeping function" was, of course, simple. The payout sum had been calculated; the members notified. Then came the wait! We had all DRPs ...
Is Your Club Required to File a State Tax Return? We focus so much on the federal filing requirements for investment clubs (partnerships) it's easy to miss the fact that your club MAY be required to file a state partnership tax return. Not all states ...
A reader writes I imported our club's data after doing year end distributions in the NAIC club accounting and have printed the 1065 and K-1's. I noticed that on 4 members K-1 that the dividend , long term capital gain and misc inc/exp are different ...
A fellow bivio user recently asked Our club has two accounts: a bank account and a brokerage account. We also invest in DRIPs, directly with the companies. Should I create a third account to hold our DRIP transactions? Do I need to record each DRIP ...
This is part of a continuing series on entering Spin-Offs and Mergers in bivio and NCA. EMC Corporation [EMC] spun off McData Corporation [MCDT] as of February 7, 2001. EMC shareholders were to receive .0368069 shares of McData for each share of EMC owned. The ...
Jim Thomas has been holding my feet to the flames in connection with reporting requirements for a member who experiences a complete withdrawal from an investment club. I thought the exchange of emails might be of interest to others. Jim's comments are bolded and italicized. ...
I just checked the search feature on bivio. Have you ever done that? It's a very handy way to find everything written about a certain topic. I searched on the word, 'fee'. There were three pages of references, including a lot of help documents and ...
The is the second and last [well, we can all hope] article on the current status of fees and expenses for investment clubs. You can read the first in the series at Sorry, Gotta Talk About Fees Again http://www.bivio.com/trez_talk/mail-msg?t=10125700003 In this article, we are going ...
Back on February 20, 2001, I made this rash promise I promise that I will not write another column about fees for at least two days. <g> I'm a man of my word. It's been over two days. Today's discourse on fees was prompted by ...
There have been a few inquiries, of late, relating to making charitable contributions our of an investment club. Can an investment club make a charitable contribution? If so, how is this accomplished with existing investment club accounting software? The first part of the question is ...
Margaret wrote I see averaging done regularly when people report their capital gains and losses. What is your statement based on that only the actual is appropriate? My statement that "unlike investments in mutual funds, the average cost of shares of stock may not be ...
A question was raised in another forum about the recent spin-off of Flowers Foods from Flowers Industries. Flowers Foods was recently spun off from Flowers Industries and a subsequent merger of Flowers Industries with a subsidiary of Kellogg. Our investment club owned 35 shares of ...
I recently wrote an article on the tax ramifications of the spin-off of Flowers Foods. http://www.bivio.com/trez_talk/mail-msg?t=11685700003 The advice in that article has been publicly challenged by Adrienne Gormley of Easyware. It is unfortunate when advisors on these matters give conflicting tax advice. Therefore, I am ...
We recently received the following I have had several of the investors ask how they can determine the values within each stock if possible. The current value of each stock within your club portfolio is updated automatically each evening after the market close. To view ...
Caryn Axelrad asked recently Our partnership made a charitable contribution, which I believe can be passed through to the members. However, I don't see that as a choice under the Expenses. Caryn is correct. At this point, none of the accounting programs for investment clubs, ...