Tax form question
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Tax form question I have been following this discussion as well. I am also a long time club treasurer . I think it's important for members to see their social security numbers on their k1, especially new members. So they can confirm that the correct information was given to the IRS. It seems like there's a lot of room for error in handwriting the Social Security numbers, especially since members aren't able to confirm them. I think the trade-off in security is not worth the increased room for errors. Tom Wagoner Sent from my T-Mobile 4G LTE Device -------- Original message -------- From: "Mike Jones via bivio.com" <user*21595500001@bivio.com> Date: 02/23/2016 12:08 (GMT-06:00) To: club_cafe@bivio.com Subject: Re: [club_cafe] Tax form question I have been following this discussion and must address the paranoia. If you are leaving off partners' social security numbers for fear that 'someone' might access them, then perhaps you need to blur identities further by using aliases on Bivio as well and then handwriting real names and numbers on the forms before filing them with the IRS. OR You can treat your financial records as accurate representations of your club's/partnership's actions and trust that Bivio will control access to them. I have worked in data processing for 40 years and choose to trust Bivio. Nefarious creeps buy social security numbers in bulk and digging out a few hundred by finding a way to hack Bivio is not really cost effective for them. Mike Jones Wall$treet Wannabees Bloomington, MN From: A Hinds via bivio.com <user*28730700001@bivio.com> To: "club_cafe@bivio.com" <club_cafe@bivio.com> Sent: Monday, February 22, 2016 5:07 PM Subject: Re: [club_cafe] Tax form question I'm our club's longtime treasurer. I do not and have never stored anybody's SS# in bivio or anywhere else online. Maybe I'm paranoid, but I figure if the SS#'s aren't there, it's harder (maybe almost impossible) for thieves to steal them. If you have a good PDF program that will redact (or erase) the SS#s (and you're not paranoid like me!), follow Ira's suggestions. Otherwise, here's what I do... When we're ready to prepare the club's federal and state tax returns, since I don't store SS#'s online, I manually enter the members' SS#'s, run the bivio program, and print the returns I'm going to submit. I then manually delete all the members' SS# from bivio. After that, I save an electronic copy of the federal return (which now has no SS#'s). From this "clean" file, I extract the individual K-1's and email them to the club partners. I admit that this is more work than just storing the SS#'s online--you have to be especially careful to enter the SS#'s correctly--and I'm probably giving you far more information than you care to have. From: "Gee, Norman" <Norman.Gee@LC.CA.GOV> To: "club_cafe@bivio.com" <club_cafe@bivio.com> Sent: Monday, February 22, 2016 1:01 PM Subject: [club_cafe] Tax form question Is it possible to generate a set of forms without the SSN that I can email to the individual members and later generate the same set to mail to the IRS and CA FTB?
Plus, I do not mail K1s to my partners. They all have access to them on Bivio and can either save them on their home computers or print them out should they need a hard copy. That also saves postage and there is no chance that someone will intercept them in the mail. Mike Jones Wall$treet Wannabees Bloomington, MN From: thomas.wagoner <thomas.wagoner@gmail.com> To: "club_cafe@bivio.com" <club_cafe@bivio.com> Sent: Tuesday, February 23, 2016 2:43 PM Subject: Re: [club_cafe] Tax form question I have been following this discussion as well. I am also a long time club treasurer . I think it's important for members to see their social security numbers on their k1, especially new members. So they can confirm that the correct information was given to the IRS. It seems like there's a lot of room for error in handwriting the Social Security numbers, especially since members aren't able to confirm them. I think the trade-off in security is not worth the increased room for errors. Tom Wagoner Sent from my T-Mobile 4G LTE Device -------- Original message -------- From: "Mike Jones via bivio.com" <user*21595500001@bivio.com> Date: 02/23/2016 12:08 (GMT-06:00) To: club_cafe@bivio.com Subject: Re: [club_cafe] Tax form question I have been following this discussion and must address the paranoia. If you are leaving off partners' social security numbers for fear that 'someone' might access them, then perhaps you need to blur identities further by using aliases on Bivio as well and then handwriting real names and numbers on the forms before filing them with the IRS. OR You can treat your financial records as accurate representations of your club's/partnership's actions and trust that Bivio will control access to them. I have worked in data processing for 40 years and choose to trust Bivio. Nefarious creeps buy social security numbers in bulk and digging out a few hundred by finding a way to hack Bivio is not really cost effective for them. Mike Jones Wall$treet Wannabees Bloomington, MN From: A Hinds via bivio.com <user*28730700001@bivio.com> To: "club_cafe@bivio.com" <club_cafe@bivio.com> Sent: Monday, February 22, 2016 5:07 PM Subject: Re: [club_cafe] Tax form question I'm our club's longtime treasurer. I do not and have never stored anybody's SS# in bivio or anywhere else online. Maybe I'm paranoid, but I figure if the SS#'s aren't there, it's harder (maybe almost impossible) for thieves to steal them. If you have a good PDF program that will redact (or erase) the SS#s (and you're not paranoid like me!), follow Ira's suggestions. Otherwise, here's what I do... When we're ready to prepare the club's federal and state tax returns, since I don't store SS#'s online, I manually enter the members' SS#'s, run the bivio program, and print the returns I'm going to submit. I then manually delete all the members' SS# from bivio. After that, I save an electronic copy of the federal return (which now has no SS#'s). From this "clean" file, I extract the individual K-1's and email them to the club partners. I admit that this is more work than just storing the SS#'s online--you have to be especially careful to enter the SS#'s correctly--and I'm probably giving you far more information than you care to have. From: "Gee, Norman" <Norman.Gee@LC.CA.GOV> To: "club_cafe@bivio.com" <club_cafe@bivio.com> Sent: Monday, February 22, 2016 1:01 PM Subject: [club_cafe] Tax form question Is it possible to generate a set of forms without the SSN that I can email to the individual members and later generate the same set to mail to the IRS and CA FTB?
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