club_cafe: Member Buy out
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club_cafe: Member Buy out Yes, it poses problems if you do not make payment before 12/31. In a nutshell, the IRS does not consider the member to be withdrawn until the money is paid. See the following for more information: http://www.bivio.com/trez_talk/mail-msg?t=11277600003 http://www.bivio.com/trez_talk/mail-msg?t=11213900003&s=1 Ira Smilovitz In a message dated 12/01/02 2:41:18 PM Eastern Standard Time, taniabut@bivio.com writes: The buy out date of a member is 10/21/02. We have six months to sent her check. I have already entered the buy out. Does this pose any problems for the end of the year taxes for her or the club if we send the check in April. |
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