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 ...
Can't tell you how aggravated I am with switching over to BIVIO from Online Club Accounting. Although now Bivio will save us tons of money $99 /yr vs. $69 + $89.99.
We are still trying to understand the disparity in ordinary dividends between Etrade and our Bivio tax form. Etrade adds taxable qualified dividends and taxable non-qualified dividends to come up with ordinary dividends. Our entries on Bivio match Etrade to a T. We went through ...
Bivio will not return the correct amount for foreign passive income on the club tax return forms. In the rather unhelpful words of their tech support: "Our software only reports passive foreign income for investments which had foreign tax withheld." "Thank you for using bivio, ...
We have opened an OptionsXpress Investment Club account in the name of our club. The big problem I'm having is that they only accept deposits from a bank account in the same name. We don't have a bank account in our club's name because to ...
Hate to disappoint you, but your Christmas party is not deductible. Investment clubs don't have business meals under the tax code. Ira Smilovitz In a message dated 02/13/08 8:20:09 P.M. Eastern Standard Time, aklages@triad.rr.com writes: We had keep the equal payment policy for a few ...
Any club that tries to enforce equal membership shares is doomed to failure. It isn't fair and it isn't necessary. The club has use of that member's money now and he can't use it for anything else. Therefore, he should get his units now . ...
Generate a transaction ledger report for 2007 and compare the entries with your Etrade documents. Look specifically for entries in the Ledger that are credited into the dividend and interest column. Ira Smilovitz In a message dated 02/13/08 6:38:35 P.M. Eastern Standard Time, jgreenb@bivio.com writes: ...
You should be able to print them the same as any other report in bivio. If this isn't working I would contact support@bivio.com . They may be able to troubleshoot your configuration. Ira Smilovitz In a message dated 02/13/08 5:36:37 P.M. Eastern Standard Time, karenbwilson@sbcglobal.net ...