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Currently viewing the category: "Taxes"

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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