Ted, I understand what you are trying to accomplish, but you are using the wrong approach. If we only ask our Senators/Assembly(wo)men to vote against S1770, we are ensuring that all investment club partners will be taxed. The tax is already part of the law ...
Ira, I think that the fact remains that the State wanting to tax clubs at all is ludicrous. We are a small group of investors who I agree won't immediately be subject to the tax right now due to the $25,000 limit which is proposed ...
Ted, I think you've confused a few things here. S1770 will NOT IMPOSE a $150 per individual tax on members that have $50,000 (or $25,000 if the S1773 language is adopted) in their club. The $150 per individual fee is ALREADY part of NJ law. ...
Dear Club Members in New Jersey, Please be advised that our State Government intends to vote on a Bills s-1770 or S-1773 which would impose a $150 per individual tax on members that have $25,000 in there club. My self and about 20 nj Club ...
The simple answer is you can't. Here's the longer version. The unit valuation method accounts for the changes in value of each of your investments and member contributions. In order for someone to get "caught up", he would have had to contribute the same money ...
We have a new partner that would like to, once his 3 month probationary period is over, make a payment to get caught up fully to the amounts of the original partners. How do I value the club (and at what point) in order to ...
Is there going to be a way for club members to access their respective K-1s or will the club administrator still be responsible for printing and distributing them? Some time ago I asked Rob Nagler about this and he indicated that it was being considered. ...
Are there any clubs that uses BuyandHold as their Brokers and has a money market account setup with BuyandHold? We have an account called BuyandHold and a Share account which is setup at a local bank. All of our transactions are done out of the ...
My opinion - free trades (or any 'free' incentive) should not hit the income statement. You buy 100 shares of stock for $10.00. Put it in as 1,000 (with zero commission). How can this affect the cost basis or income statement? If the new broker ...
We recently changed brokers and got several free trades. They are showing up in bivio as income, but I feel they should be adjustments to the basis of the stocks bought and sold. Am I right and how do I go about doing it? Thanks, ...
How many clubs are hiring an outside accountant to review your data? I see no need for such an event to occur. Our Treasurer is responsible for keying data into Bivio and making sure the reports tie out to broker and bank statements. Each quarter ...
I'm trying to understand 'Exporting Data' and XML and not having a lot of success. Okay, I've downloaded the data as an XML file. If I open it in a browser it just comes up a whole lot of text means nothing to me. If ...
You make a "misleading" statement below "However, in WCOM's case I believe the stock is clearly worthless." If you meant that in your opinion, the company will not revive and will not regain value, that is a valid opinion. If you meant that the stock ...