club_cafe: taxes in california

ckwils on

I agree with Ellen's distributions, but the Treasurer should provide the K-1's to the members as per instructions in order to meet the IRS requirement as well as protect himself.
Colin Wilson, Treasurer, Doc Stock Invest. Club
----- Original Message -----
From: "John Rice" <rice.j1969@att.net>
To: "The Club Cafe" <club_cafe@bivio.com>
Sent: Sunday, February 20, 2011 7:15:36 PM GMT -08:00 US/Canada Pacific
Subject: Re: club_cafe: taxes in california

You need to send the whole 1065 (which includes the K-1s) to the Department of
the Treasury in Ogden, Utah and then send the whole 565 ( includes the
K-1(565))to the Franchise Tax Board in Sacramento. I would have all of your
partners print up their own K-1s from Bivio.

John

________________________________
From: Ellen Shershow <thatgirl@ellenswebsite.com>
To: The Club Cafe <club_cafe@bivio.com>
Sent: Sun, February 20, 2011 6:50:59 PM
Subject: club_cafe: taxes in california

Hello,

I just completed the tax interview on Bivio. I ended up with a 1065 and K-1's
for federal taxes, and something called a 565 plus additional K-1's for
California state taxes.

Does this mean that I, as the club treasurer, send the 1065 and the 565 to the
IRS, and distribute 2 K-1 per member to everyone in my club?

Thanks!

Ellen

Ellen Shershow Peña Photography
www.ellenswebsite.com
www.ellenswebsite.com/category/blog/
415.690.0278

Ellen Shershow on

Actually, I probably will regardless since I can't get any of my members to log on to bivio. It makes no sense since we are all very tech oriented. We all bring our laptops to every meeting, and our membership includes a yahoo employee and a web designer. I once tried to make everyone log on during a meeting, and was met with a chorus of 'Whats my password'? and 'whats the web address?'. We got through the meeting but no ones has logged on since and I have let go of the dream.

Ellen

Ellen Shershow Pena Photography

www.ellenswebsite.com

www.ellenswebsite.com/category/blog/

415.690.0278

On Feb 20, 2011, at 7:22 PM, ckwils@mchsi.com wrote:

I agree with Ellen's distributions, but the Treasurer should provide the K-1's to the members as per instructions in order to meet the IRS requirement as well as protect himself.
Colin Wilson, Treasurer, Doc Stock Invest. Club
----- Original Message -----
From: "John Rice" <rice.j1969@att.net>
To: "The Club Cafe" <club_cafe@bivio.com>
Sent: Sunday, February 20, 2011 7:15:36 PM GMT -08:00 US/Canada Pacific
Subject: Re: club_cafe: taxes in california

You need to send the whole 1065 (which includes the K-1s) to the Department of
the Treasury in Ogden, Utah and then send the whole 565 ( includes the
K-1(565))to the Franchise Tax Board in Sacramento. I would have all of your
partners print up their own K-1s from Bivio.

John

________________________________
From: Ellen Shershow <thatgirl@ellenswebsite.com>
To: The Club Cafe <club_cafe@bivio.com>
Sent: Sun, February 20, 2011 6:50:59 PM
Subject: club_cafe: taxes in california

Hello,

I just completed the tax interview on Bivio. I ended up with a 1065 and K-1's
for federal taxes, and something called a 565 plus additional K-1's for
California state taxes.

Does this mean that I, as the club treasurer, send the 1065 and the 565 to the
IRS, and distribute 2 K-1 per member to everyone in my club?

Thanks!

Ellen

Ellen Shershow Pena Photography
www.ellenswebsite.com
www.ellenswebsite.com/category/blog/
415.690.0278

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