Treasurer's Year-End/Tax Workshop

    Agenda

    Welcome and Introductions
        Expectations
        Assumptions/Limitations
        Disclaimer

    Year End Duties
        Update Software
        Update Settings
        Enter all data up to 12/31
        Dividends
        Enter closing stock prices
        Verify Club Info
        Audit
        Distribute Earnings

    Tax Filing
        Should Investment Clubs file?
        ID Numbers
        Federal Forms
        State Forms
            Filling out the MN Form M-3
        Methods for printing forms

    Verification of Club Books
        Pre-filing verification
        Reports to print
        Other documents
        Procedures
        NAIC Resources

    Frequently Asked Questions
        Qualified dividends, ex-dividend date
        IClub issues
        Club dividends don't match 1099s
        Company-paid fees/commissions
        Is Workshop fee tax deductible?
        Can one member buy out another?
        Options for total withdrawals
            Withdrawal paid with all cash
            Withdrawal paid with stock
            Other Considerations

    Resources
        NAIC
        ICLUBcentral
        NAIC Software
        Yahoo Stock Information
        IRS

    Acknowledgements/Questions?