So if we disband in October our return is due January 15? Or could we then just wait for the 1099 and file at the regular time March 15?

On July 10, 2017 at 4:13 PM Laurie Frederiksen <laurie@bivio.biz> wrote:

Actually that has changed.  It is due on the 15th day of the 3rd month following your month of termination. That could now easily be less than 90 days. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend!  www.facebook.com/bivio Follow us on twitter!  www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list.  Click here to  Unsubscribe

On Mon, Jul 10, 2017 at 4:01 PM, Joy Russell via bivio.com<user*34951400001@bivio.com> wrote:

Your tax is due 90 days after the date the club was disbanded. Our club disbanded early last year 2016 and we waited to file the regular time. Couple months later we got a bill from the lRS for over $8,000. They charged an amount for each member.  However we called them and because this was our first late filing they forgave the world amount. 

On Jul 7, 2017 7:32 PM, "Susan J Mueller via bivio.com" <user*15197400001@bivio.com> wrote:

Our club is discussing disbanding this year. Is there a

cutoff month that we'd have to file the partial year return?

If we disband in October or November can we wait to file at

the normal time? Thanks for your help...

 

Our club is also disbanding.  If we disband in 2017 and need to file a 2017 return before it's available in Bivio, how would we do that? 

----- Original Message -----
From: Laurie Frederiksen <laurie@bivio.biz>
To: The Club Cafe <club_cafe@bivio.com>
Sent: Mon, 10 Jul 2017 17:02:34 -0400 (EDT)
Subject: Re: [club_cafe] Disbanding

To the best of my knowledge:

For a part year return for 2017 you would use the 2016 tax program to file during 2017 with the end date showing the partial year. Even though the 2016 tax program is used for the partnership, individuals would put the tax information on their 2017 tax year returns when they file them next year.

How you would do this using Bivio's program I do not know. My advice would be to disband a club in the end of December to make life easier. You can distribute most of the money or assets prior to that, but keep a little cash to settle expenses and officially end in December.

Linda

From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Claudia Wood via bivio.com
Sent: Monday, July 10, 2017 5:08 PM
To: club cafe
Subject: Re: [club_cafe] Disbanding

Our club is also disbanding. If we disband in 2017 and need to file a 2017 return before it's available in Bivio, how would we do that?

----- Original Message -----
From: Laurie Frederiksen <laurie@bivio.biz>
To: The Club Cafe <club_cafe@bivio.com>
Sent: Mon, 10 Jul 2017 17:02:34 -0400 (EDT)
Subject: Re: [club_cafe] Disbanding

If you wanted to file later than the return was due in January, you'd need to file for an extension to avoid any problems. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/ Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe

On Mon, Jul 10, 2017 at 4:52 PM, SUE J MUELLER via bivio.com<user*15197400001@> wrote:

So if we disband in October our return is due January 15? Or could we then just wait for the 1099 and file at the regular time March 15?

On July 10, 2017 at 4:13 PM Laurie Frederiksen <laurie@bivio.biz> wrote:

Actually that has changed. It is due on the 15th day of the 3rd month following your month of termination. That could now easily be less than 90 days. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/ Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe

On Mon, Jul 10, 2017 at 4:01 PM, Joy Russell via bivio.com<user*34951400001@> wrote:

Your tax is due 90 days after the date the club was disbanded. Our club disbanded early last year 2016 and we waited to file the regular time. Couple months later we got a bill from the lRS for over $8,000. They charged an amount for each member. However we called them and because this was our first late filing they forgave the world amount.

On Jul 7, 2017 7:32 PM, "Susan J Mueller via bivio.com" <user*15197400001@bivio.com> wrote:

Our club is discussing disbanding this year. Is there a

cutoff month that we'd have to file the partial year return?

If we disband in October or November can we wait to file at

the normal time? Thanks for your help...

Virus-free. www.avast.com

I would actually disband in Dec but would sell any sticks that would be paying a dividend in January before the ex dividend date in 2017. Otherwise the club will have income after disbanding and 2018 income.

Cindy Gerke

Cole's River Investment Group

1997.

On Jul 10, 2017 7:47 PM, "Linda Wiltse via bivio.com" <user*31518000001@bivio.com> wrote:

To the best of my knowledge:

For a part year return for 2017 you would use the 2016 tax program to file during 2017 with the end date showing the partial year. Even though the 2016 tax program is used for the partnership, individuals would put the tax information on their 2017 tax year returns when they file them next year.

How you would do this using Bivio's program I do not know. My advice would be to disband a club in the end of December to make life easier. You can distribute most of the money or assets prior to that, but keep a little cash to settle expenses and officially end in December.

Linda

From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Claudia Wood via bivio.com
Sent: Monday, July 10, 2017 5:08 PM
To: club cafe
Subject: Re: [club_cafe] Disbanding

Our club is also disbanding. If we disband in 2017 and need to file a 2017 return before it's available in Bivio, how would we do that?

----- Original Message -----
From: Laurie Frederiksen <laurie@bivio.biz>
To: The Club Cafe <club_cafe@bivio.com>
Sent: Mon, 10 Jul 2017 17:02:34 -0400 (EDT)
Subject: Re: [club_cafe] Disbanding

If you wanted to file later than the return was due in January, you'd need to file for an extension to avoid any problems. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe

On Mon, Jul 10, 2017 at 4:52 PM, SUE J MUELLER via bivio.com<user*15197400001@bivio.com> wrote:

So if we disband in October our return is due January 15? Or could we then just wait for the 1099 and file at the regular time March 15?

On July 10, 2017 at 4:13 PM Laurie Frederiksen <laurie@bivio.biz> wrote:

Actually that has changed. It is due on the 15th day of the 3rd month following your month of termination. That could now easily be less than 90 days. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe

On Mon, Jul 10, 2017 at 4:01 PM, Joy Russell via bivio.com<user*34951400001@bivio.com> wrote:

Your tax is due 90 days after the date the club was disbanded. Our club disbanded early last year 2016 and we waited to file the regular time. Couple months later we got a bill from the lRS for over $8,000. They charged an amount for each member. However we called them and because this was our first late filing they forgave the world amount.

On Jul 7, 2017 7:32 PM, "Susan J Mueller via bivio.com" <user*15197400001@bivio.com> wrote:

Our club is discussing disbanding this year. Is there a

cutoff month that we'd have to file the partial year return?

If we disband in October or November can we wait to file at

the normal time? Thanks for your help...

Virus-free. www.avast.com