2010 Tax Program Released!
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2010 Tax Program Released! The 2010 bivio Federal tax program has been released! It is available
to any club with a current bivio subscription (including free trials).
You will be
able to access and use it by going to Accounting>Taxes. State taxes
for NY, NJ and PA are also available. We are still waiting for approval
of tax forms for CO and CA. Don't forget that it's best not to finalize and file your taxes until you have received 1099 forms from your broker and your bank (if you use one). The IRS has a computer that matches the information on the them to the information you report on your taxes. If it finds differences, it likes to automatically send you a "love note" and you'll have lots of "splainin" to do. Be aware that everything is moving slowly this year. Brokers have until February 17 to send out some of the forms you might need. In addition, we're also hearing of situations where brokers have advised clubs to wait until the end of February as they expect that the first forms they have sent out may be revised. This appears to be more related to investments in mutual funds and some ETF's than in stocks but you should probably check with your broker just to make sure. We'll be giving our annual tax webinar on Feb. 6, Feb. 13 and Feb. 16 Join us on any one of those dates and we'll show you the entire tax prep process . It's free and any member of your club is welcome to attend. You can register by going to www.bivio.com/club_cafe We're looking forward to another season of helping your club to comply with the tax laws. See you online! -- 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 I noticed a problem on the PA. state income tax return. Suggestion and/or tell me if I should make a correction on our tax forms. I ran our Fed. And Pa. state tax return tonight. In doing so, I looked back on NAIC’s forms I did last year. I noticed a problem with the state of Pa. form. Which is: on the RK-1 form, we have always had to show our fiscal year on this form, on your form and even in our question program called --- Partnership Tax Interview, you did not ask for our fiscal year. On Pa. form each year, they always have this block answered. Now on this form from you, it states this is not our fiscal year, so therefore your program shows a N – to mean this means our fiscal year is not 1-1-2010 to 12-31-2010 – to me maybe the state will expect another return in the near future. Have I made a mountain out of a molehill or not. I think I should write our fiscal year on each partners return and change the N to Y and show 12-31-2010.? One other suggestion, it would be nice if you included a sheet in both Fed. And Pa. of what you must send to each agencies. Lucky I have last year’s Pa. tax return because I see I must send the complete Federal forms to the Pa. tax department as well. What do you think about the fiscal year, can it be added into the questions on the Partnership Tax Interview program.? Art Smith From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Laurie Frederiksen The 2010 bivio Federal tax program has been released! It is available to any club with a current bivio subscription (including free trials). You will be able to access and use it by going to Accounting>Taxes. State taxes for NY, NJ and PA are also available. We are still waiting for approval of tax forms for CO and CA. bivio is preparing the PA return correctly. You should answer Y and provide a date only if your club uses a fiscal year that is different from the calendar year. See the instructions for Schedule R-K1, pages 2-3. http://www.revenue.state.pa.us/portal/server.pt/document/1036382/2010_pa-20s-pa-65rk1_inst_pdf
Ira Smilovitz Join me at InvestEd 2011 In a message dated 02/08/11 23:41:38 Eastern Standard Time, ajssja@embarqmail.com writes:
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