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Currently viewing the category: "Tax Information"

How New Partnership Audit Rules Impact Your Club

On March 5, 2018 By Russell Malley, Club Accounting Adviser, ICLUBcentral
investment club tax audit stock market capital gains tax time

The Bipartisan Budget Act of 2015 had provisions for changing the rules for the Internal Revenue Service audits of partnerships. These rules just became effective with the start of the new year. In general the rules make it easier to collect taxes from a partnership after an audit. They make any taxes due [...]

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BetterInvesting’s Koski Tells CNBC She’s ‘Pretty Bullish’ on Market for New Year

On January 8, 2018 By BetterInvesting, Empowering Investors Since 1951
BetterInvesting Jackie Cummings Koski CNBC Investment Club stock market

Like many people, Jackie Cummings Koski, a member of the BetterInvesting board of directors, is eyeballing her finances as we enter a new year. Unlike most, however, she has a wider audience looking over her shoulder because Jackie’s often interviewed on CNBC for her stock market insights. She was on the cable channel’s Read Full Article →

Betterinvesting Committee Urges Individual Investors to Contact U.S. Senators Regarding Negative Impact of FIFO Proposal in New Tax Reform Bill

On November 28, 2017 By BetterInvesting, Empowering Investors Since 1951
senate taxes investors taxation us stocks united states capitol

MADISON HEIGHTS, Mich. – Nov. 28, 2017 – The Individual Investor Advocacy Committee of BetterInvesting’s board of directors encourages individual investors to share with U.S. senators their view of a controversial proposal in the Senate tax bill that could result in higher taxes for individual investors and investment clubs when selling investments.

Today, when [...]

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Don’t Let Typical Tax-Related Issues Trip You Up

On January 25, 2017 By Russell Malley, Club Accounting Adviser, ICLUBcentral
tax time

It’s the time of year when issues related to investment club tax filing become a big part of support requests at ICLUBcentral. This article will deal with a couple of common tax-related issues.

Starting this year a change in the law now means federal partnership returns are due March 15 instead of April 15. [...]

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Take Heed When Taking Capital Gains

On September 24, 2014 By Adam Ritt, Director of Communications
Tax

I’m no tax expert, but I feel safe in saying that taxes will be a fact of life for a long time. Tax policies also will continually change at the local, state and federal level to make tax preparation a more critical task.

Chicago, for example, increased the monthly surcharge on telephones — both [...]

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Changes in Club-Related Tax Forms

On February 11, 2014 By Russell Malley, Club Accounting Adviser, ICLUBcentral
form 8949_stroke

Last year saw the addition of a new form to partnership tax returns for reporting details of capital gains income. This was Form 8949. This year Form 8949 has changed slightly and what goes on the form can be a little different. Form 8949 is used to report proceeds from sales and the cost [...]

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Investment Clubs, There’s an Easier Way to Beat the Tax Season Rush — With ICLUBcentral’s Tax Printer

On November 6, 2013 By BetterInvesting, Empowering Investors Since 1951
software for investment clubs income taxes

You can’t avoid the tax, but you can avoid the rush. Get your investment club ready for Tax Season early by pre-ordering your Federal and State Club Tax Printers from ICLUBcentral — the No. 1 tax preparation software for investment clubs.

Pre-order now and save — pay just $89.99 if you order before December [...]

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Effects of Tax Law Changes

On March 25, 2013 By Russell Malley, Club Accounting Adviser, ICLUBcentral
form 8949_stroke

The changes in tax law related to brokers keeping cost-basis information and reporting it to the IRS when there’s a sale has created some challenges for clubs.

For those hoping to be relieved of entering an ex-dividend date when entering dividends, you’re out of luck. The maximum tax rate on dividends went up, but [...]

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Study Ranks ‘Least Worst’ Ways to Tax

On February 12, 2013 By Thomas D. Saler, Contributor, BetterInvesting Magazine
tax burden

As taxpayers labor over their 2012 tax returns, a recent report by the Washington-based Tax Foundation on the most- and least-productive ways to raise revenue makes for timely and provocative reading. Citing as its basis an OECD working paper on the “least worst” ways to raise revenue, the Tax Foundation presented its [...]

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Clubs Need to Navigate Changes to IRS Forms

On January 22, 2013 By Russell Malley, Club Accounting Adviser, ICLUBcentral
tax refund

This year changes were made to the federal partnership return forms. These involve how capital gains are reported. Form 8949 was added and changes to Schedule D were implemented. Both are involved with reporting capital gains.

In the past, individual transactions that generated a capital gain or loss were itemized on Schedule D in [...]

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TOPICS

  • 529 Plans (1)
  • ADR (1)
  • ADR — American Depositary Receipt (2)
  • Alternative Investments (7)
  • Berkshire Hathaway (7)
  • BetterInvesting (570)
  • BetterInvesting Announcements (266)
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  • BINC (11)
  • Bitcoin (1)
  • Bonds (3)
  • Book Review (5)
  • Brexit (1)
  • Business & Finance (564)
  • Business trends for the investor (332)
  • Capital Gains (3)
  • Capitalism (19)
  • Cashless Consumption (1)
  • Closed-end Funds (1)
  • Club Accounting (19)
  • Club Audit (2)
  • Club Taxes (6)
  • Club Treasurer (12)
  • College Savings (2)
  • Commodities (2)
  • Corporate Governance (14)
  • Cryptocurrency (1)
  • Currency (4)
  • Debt (1)
  • Diversification (5)
  • Dividends (27)
  • Doug Gerlach (32)
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  • Economic Growth (10)
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  • Education Reform (1)
  • Emerging Markets (6)
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  • Estate Planning (6)
  • ETFs (9)
  • Financial Education (491)
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  • Financial Fest (3)
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  • Financial Literacy (199)
  • Financial Markets (426)
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  • Foreign Markets (13)
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  • Betterinvesting Magazine Releases April Stock to Study and Undervalued Stock Choices for Investors’ Informational and Educational Use

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