language for bylaws on withdrawing membersWe 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 ...

Re: [club_cafe] Investment club withdrawalsThe typical NAIC-style withdrawal usually calls for a resignation letter. It is deemed accepted at the next club meeting. The amount paid would be the member's capital account balance as of the next meeting, after the resignation is accepted. So, a resignation letter written between ...

Re: [club_cafe] Tax formThe withdrawal report needs to be given to the member who took the withdrawal because there may be tax consequences from it.A They would need to be reported on their personal tax forms in addition to the information from their K-1. Here is informationA on ...

Re: [club_cafe] Re: Paying a withdrawing partnerThe way I would interpret it is: If no other withdrawals were made in this calendar year then I would allow a full withdrawal in cash for 99.5% of the partner's account.A If the partnership wanted to hold to the full withdrawal option to determine ...

Re: [club_cafe] withdrawal feeI agree with Mike. We do have a withdraw fee, although we should call it a penalty to discourage someone from joining and then leaving early. A withdraw disrupts the club by having to give up a stock that we like. If someone leaves within ...

Re: [club_cafe] FW: Estimating impact of charter member withdrawalsYou can calculate the CG impact on a withdrawing member by comparing their tax basis to their market value on the Member Status Report. If the difference (MV - TB) is positive, they have a capital gain, if negative, a capital loss. The withdrawal itself ...

Re: [club_cafe] WithdrawalsLinda, I understand now that when a member withdraws his tax return is prepared in the following year when he is long gone and so he does not share in that expense. I would agree with a fee to cover his share of the tax ...

Re: [club_cafe] WithdrawalsSince the withdrawing member is no longer part of the partnership, s/he is also not part of the subsequent tax return so should not be expected to share in the cost of its preparation. The only additional cost generated is the creation of the withdrawal ...

Re: [club_cafe] withdrawal feeThank you all for your information on the Withdrawal fee topic. On Tuesday 26/08/2014 at 11:34 am, John Rice wrote: I agree with Mike. We do have a withdraw fee, although we should call it a penalty to discourage someone from joining and then leaving ...

Re: [club_cafe] Tax formAre you saying that it only needs to be given to the person who withdrew from the club. On Tuesday, March 10, 2020, 10:31:10 AM CDT, Laurie Frederiksen <laurie@bivio.biz> wrote: The withdrawal report needs to be given to the member who took the withdrawal because ...

Re.Partial WithdrawalsIRA re. your last sentence "in general funding partial withdrawals with cash is the easiest choice" I am restating the situation: Over years a partner has invested PLUS distributed earnings, and now has a cost basis of $10K. His ownership in the club's portfolio amounts ...

Re: club_cafe: Member WithdrawalNo. If a transaction dated prior to a withdrawal is modified (or added or deleted), bivio will make appropriate adjustments to every member who had an ownership share on the date of that transaction. However, the net dollar value of any withdrawals dated after the ...

Re: club_cafe: Withdrawals and Your Partnership AgreementThe information is correct, but is written in a very confusing manner. Jerry approaches each alternative from three perspectives: the withdrawing member, the other members and the club. In fact, there are really only two perspectives: the withdrawing member's and the other members'. Note the ...

Re: [club_cafe] payment to withdrawing membersIrina--Please share the benefits to the club. Heretofore, we have paid in cash as well. We have a longterm member who has submitted a withdrawal request effective December 31, 2013. We are in the process of withdrawing that member. So if it is a better ...

Re: [club_cafe] withdrawal feeHi, Here are the instructions for entering a withdrawal: https://www.bivio.com/site-help/bp/Member_Withdrawal_Help The withdrawal fee is one of the pieces of information you include on the withdrawal form.A When you accept the entry,A bivio makes all the accounting entries you need to record things properly. Laurie Frederiksen ...