The system will be down for maintenance starting tonight (3/29/08) at 9p till the morning. We apologize for the short notice. Cheers, Rob Nagler bivio Inc.
What form? Ira Smilovitz In a message dated 03/26/08 1:14:12 P.M. Eastern Daylight Time, mjgreenberger@bivio.com writes: I am having some issues starting our investment club in NY as a partnership. One issue is that the form needs to be notarized with all members there. There ...
I haven't been able to find a copy of the form to review, but I suspect that you do not have to file it because you are not operating a business. I would try to contact someone from the NY Chapter of BI and ask ...
Member paid $25 for Better Investing Magazine. Treasurer entered money under "Suspense" in December 2007. Treasurer sent check to Better Investing Jan 2008 and entered it as an expense from the Bank Account. Problem is Member is now credited with $25 more than our other ...
I am having some issues starting our investment club in NY as a partnership. One issue is that the form needs to be notarized with all members there. There is no way I can get all 10 members in front of a notary at the ...
Our club had an outstanding loan made by one member at the time we brought our data into the Bivio accounting system. We haven't been able to create an "account" to record this amount as a liability so that it appears correctly on our balance ...
Unless your club has more than $600K of assets, you do not need to complete the balance sheet portion of the 1065 form. See the text accompanying question 5 of Schedule B. Ira Smilovitz In a message dated 03/24/08 5:50:01 P.M. Eastern Daylight Time, moriaritydean@bivio.com ...
I hope your partnership agreement allows for this as most do not. The risk is that any aingle member can be held accountable for the full debt should the partnership fail to meet its obligations. Ira Smilovitz In a message dated 03/24/08 4:45:26 P.M. Eastern ...
It's the same thing. Just process the withdrawal as if it were paid by the club and enter the deposits from the new members as deposits purchasing shares. Ira Smilovitz In a message dated 03/24/08 5:18:16 P.M. Eastern Daylight Time, moriaritydean@bivio.com writes: Is there a ...
Is there a method to record a transfer of a member's interest (rather than a withdrawal)? In our case, a withdrawing member's interest was transferred to new members because, at the time the member desired to withdraw, the club's investments were largely illiquid and a ...
You must file EVERY year. It is NOT optional. As you can tell from the recent messages, the fines can be substantial for not filing. You report all of your income and expenses and their allocation to your partners. You may also be required to ...
We were just hit with a $2250 fine by the IRS for failure to file the Club taxes on time. We had a miscommunication on who was supposed to file it. When the IRS notified us (Dec) we filed immediately. Now they have sent us ...
The best way to know is to send the return by certified mail. The receipt is proof of filing. Next best, if you don't send the return certified mail is to call the IRS. Once the return is processed (this could take several weeks), any ...
I agree with Rip. Start first on the phone. Usually you can get a waiver that way. If the phone call fails, you can always write the letter. Ira Smilovitz In a message dated 03/19/08 6:04:21 P.M. Eastern Daylight Time, mservant@charter.net writes: My club actually ...
John, My club actually experienced this situation. There is a appeal process that involves responding in writing and were actually successful on reducing the fine. If i recall the info on the appeal process was on the IRS letter that was sent with the fine. ...