Can you provide more information on the IRS request? If your member has a green card, s/he is a legal resident of the US and files an "ordinary" 1040 like any citizen. There is no "backup" withholding for partnership income. What I suspect may have ...
We have a couple of members who put in the full amount of their contributions for the upcoming year in a lump sum. What is the proper way to enter this transactions and how should i treat their payment entry each month? Thanks in advance.
Recently, Nautica was acquired by VF Corpartion. Thus, the shares of stock my club owned were bought back. Now we are trying to update our accounts to reflect the buy back and the cash lieu amount, but I keep receiving errors. What should I do, ...
I would be very careful about doing this. Check your partnership agreement carefully. If your partnership agreement does not state that there is a specific contribution each month, then the members who are prepaying should get all of their units as of the date of ...
Two items - One - we have a green card member and I got a letter from the IRS that we had to do withholding. We have not had taxable income, but the letter said that didn't matter. What do we need to do? Two ...
Club officers can save their complete club information to disk as an XML document (XML is an Internet standard for exchanging data that has been adopted by most companies in the financial industry). Until now, you had to email customer support the XML document and ...
Thanks again Al & Ira for the information. I'll like them know next month, maybe pizza will be served. B- Original Message Follows From: IraS1@aol.com Reply-To: "The Club Cafe" To: club_cafe@bivio.com Subject: Re: club_cafe: Ira or Rip--Please help! Date: Fri, 22 Aug 2003 16:06:25 EDT ...
Our investment club currently requires every member to pay the same amount of dues each month and we assesses a late fee when the payment is not received on time. We are considering droping the late fee. If a member does not pay dues for ...
Taxes are not $2, they are more likely to be $8 (25% bracket), but even so Allesandro's point is well taken. The impact on your members is negligible. My advice, however, would be to void the original check and reissue it to the church. Unless ...
It is only $30. Taxes are $2. Enter it as miscellaneous income and buy pizza for the next meeting and claim it as a learning expense. My 2 cents. Al Original Message From: Brian Lancaster [mailto:biglan@bivio.com] Sent: Friday, August 22, 2003 2:35 PM To: club_cafe@bivio.com ...
My club has an unusual situation. At the end of 2002 we made a donation to one of my club member's church. The donation was for $30 and in the form of a check. We also claimed this charitable deduction on our taxes. As of ...
In a message dated 08/21/03 12:43:46 AM Eastern Daylight Time, donald@bivio.com writes: We switched brokers and when one of our stocks was transferred we received cash for some fractional (0.25956)shares. How do you handle this transaction? Thanks Enter it as a sale of .25956 shares. ...
We switched brokers and when one of our stocks was transferred we received cash for some fractional (0.25956)shares. How do you handle this transaction? Thanks.
At one point when a member decided to pay their full dues for the year in one payment it also occurred to us that one member could attempt to "time" their contributions, buying shares at a lower value and end up with a greater share ...
Thanks for the responses. Comments from those who responded are helpful. Setting a limit of having no partner contribute more than 20% of the value of the club makes sense (depending ,of course, on the composition of the club this might be a problem in ...