club_cafe: how does the club accounting package help user fill out IRS fr...
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club_cafe: how does the club accounting package help user fill out IRS fr... My answers would differ slightly from Rip's, but I understand his
perspective in answering.
[Rip]: bivio prepares a complete federal partnership tax return for each
club.
[me]: Agreed. >><1> Does the Club Accounting package automatically fill out the necessary boxes in the IRS tax forms? [Rip]: Yes [me]: Agreed. >><2> Or, does the package guide the user through a questionnair form to help fill out the IRS tax forms? [Rip]: No, not necessary. [me]: The package does take you through a questionnaire to collect non-accounting information which isn't already contained in the database such as answers to Schedule B questions, and certain partner information for Schedule K-1. >><3> Which part of Tax paper works require personal touch? [Rip]: None/ [me]: After you complete the questions, the return generated by the
software is ready for signature and filing. The only thing you need to do is
make/print the appropriate copies for the IRS, club records, club members, and
state (if required). Note: as of tax year 2004, bivio did not prepare any state
tax returns. I don't believe they have announced their plans for tax year
2005 yet.
>><4> If it does neither, how does the Club Accounting package assist the user to fill out the IRS tax forms? [Rip]: Not applicable [me]: Agreed. Ira Smilovitz Your information has been very helpful. Thank you guys again! IraS1@aol.com wrote: > My answers would differ slightly from Rip's, but I understand his > perspective in answering. > > [Rip]: bivio prepares a complete federal partnership tax return for each > club. > [me]: Agreed. > > >><1> Does the Club Accounting package automatically fill > out the > necessary boxes in the IRS tax forms? > > [Rip]: Yes > [me]: > Agreed. > > >><2> Or, does the package guide the user through a > questionnair form to > help fill out the IRS tax forms? > > [Rip]: No, not > necessary. > [me]: The package does take you through a questionnaire to collect > non-accounting information which isn't already contained in the database such as > answers to Schedule B questions, and certain partner information for Schedule > K-1. > > >><3> Which part of Tax paper works require personal > touch? > > [Rip]: None/ > [me]: After you complete the questions, the return generated by the > software is ready for signature and filing. The only thing you need to do is > make/print the appropriate copies for the IRS, club records, club members, and > state (if required). Note: as of tax year 2004, bivio did not prepare any state > tax returns. I don't believe they have announced their plans for tax year > 2005 yet. > > >><4> If it does neither, how does the Club > Accounting package assist the > user to fill out the IRS tax > forms? > > [Rip]: Not applicable > [me]: Agreed. > > Ira Smilovitz |
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