Portfolio went from $35k to $15k due to 4 members withdrawing (half the membership). Would it make sense to do Snapshot for '07's taxes and Time-Based allocation for next year? Or should do the recommended time-based for last year and the next year? Thanks! Carol ...
We want to clarify the procedure and language in the bylaws on withdrawing members We want to allow for 1 month for them to give us an account number, and if we don't get it, we say that we will transfer the securities to them ...
You should always use time-based. Members coming and going shouldn't affect the decision. Ira Smilovitz In a message dated 02/17/08 3:42:59 P.M. Eastern Standard Time, etana_finkler@bivio.com writes: Portfolio went from $35k to $15k due to 4 members withdrawing (half the membership). Would it make sense ...
As Gene has already posted if this is just a bookkeeping problem, delete the withdrawal and reenter it with the correct member chosen. If you've already issued a check to the wrong person, you have other problems to deal with. If you can provide additional ...
Oops. I (treasurer) processed a member withdraw a couple of weeks ago and just now realized it was a mistake. We are a model club, so I often do member withdraws from our club. But I got two people mixed up, and one is now ...
It's up to the money market, not the recipient, to determine whether what they pay is interest or dividend. Go with what they report. Ira Smilovitz In a message dated 02/16/08 8:25:06 A.M. Eastern Standard Time, danr33@aol.com writes: Accountsync picks up our money market income ...
It's an ordinary dividend. If you post it as interest, your 1065 Schedule K entries on lines 5 and 6a will not match your 1099s and you will probably receive a letter from the IRS asking you to explain the difference. As to what to ...
It won't create any problems. Ira Smilovitz In a message dated 02/16/08 4:56:19 A.M. Eastern Standard Time, mmt6@bivio.com writes: Account-sync BUYandHold posted the eoy money market income on 12/31/07. Will a transaction on that date mess with the end of year routines? What is your ...
According to the IRS Publications they are not deductible expenses. See IRS Pub. 550, Investment Income and Expense, www.irs.gov/pub/irs-pdf/p550.pdf . However, IRS Pubs. are not definitive statements of tax law and there are those in the practitioner community who would claim a deduction for the ...
I am confused about how to post broker money market income. The long standing habit of our treasurers was to consider broker money market income as "interest." However, the Bivio account-sync transaction from BuyandHold automatically posts the transaction as "dividend." Should we leave the account-sync ...
Account-sync BUYandHold posted the eoy money market income on 12/31/07. Will a transaction on that date mess with the end of year routines? What is your recommendation?
1. Our club attended the BINC in Dallas in 2007 at the club's expense. Is this a deductible expense? 2. We also stayed one night's lodging. Is the lodging a deductible expense?
Our club received a K-1 from PowerShares (DBA). It lists interest, Section 1256 gains and a distribution. The only item showing in our broker account is the distribution. My question relates to how to handle this in Bivio. I can enter the interest as income. ...
Our club has 2 complicated issues. The first concerns our REIT which we have since sold. On our statements we received 2 dividends of $71.00( 7/16/07 and 10/15/07) for a total of $142.00. On the 1099 details page.. it shows Div(box 1a) $30.70, Total Cap ...