The tax process
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The tax process What is the process for the taxes and who gets what: here's what we're planning and did already: 1. We read Ira's Tax workshop. 2. We just generated and printed the bivio tax documents after taking the interview. 3. Tomorrow night we'll review what we printed, and get all our documents ready for the audit. 4. Then we have the audit committee review the deposits, holdings, beginning and ending balance, all transactions for the year 5. What do we bring to the March 11 meeting to hand out for each member? The K-1 for each member and the Member Tax Allocations Report? anything else? The D? The members do not have to file the K-1s; correct? It's for their information because WE (the treasurer and ass't treasurer) are filing it...? 7. Do we send all 43 pages that bivio generated (1065, D and K-1s) to Ohio as state returns from our club? 8. In my last question I asked how to fill out the MD tax form for each member, so I'll look for the report in that thread. 9. What else? Thanks, Etana |
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