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Reply | Forward Message #617 of 620 |
Re: [goldclub] club

The best option might be to cash out the members in stock for the two big holdings (Cedar Fair and United Natural Foods) which both have built in gains, but to have the club sell the smaller holdings (which will not be a tax gain) so that we don't have to each pay commission on our smaller pieces of those holdings.

At 7:42 AM -0400 6/3/04, Paul Hess wrote:
Hi Lanny,

So would we send actual (paper) shares to each member if we do it that way?

The gains/losses on most stocks are more than a year old so they would be "long term" capital gains.  Some of the gains and losses would cancel out and the net result would be a smaller number.  I wonder if that total tax consequence would be LESS than the commission cost to each member of selling all those shares.  If someone pays (for example) $15/trade and has 10 stocks to sell that's $150 in commissions plus they will still eventually get the same tax hit.  And I don't know if the brokers will charge a fee to receive the paper shares or not.  If we have the club sell all of the stocks we are sharing the single commission cost 6 ways.

Just something to consider.

                                 - Paul


At 7:40 AM -0400 6/3/04, Lanny Vrooman wrote:
If we decide to disband the club, one possible option would be to cash out each member in stock.  I think (not one hundred percent sure) that way we would not incur tax consequences until we sold the stock.  We have done this when members withdrew.

Lanny

At 02:14 PM 6/1/04, you wrote:
I would hate to see the club disband, but I will go along with the
majority.

One thing tho, what will the tax consequences be to the members if
everything must be sold to distribute the funds. Can everyone please
consider the answer to this in their decision.

Thanks,

Donna



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Thu Jun 3, 2004 1:28 pm

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hesspaul
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Forward 		Message #617 of 620 |
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I would hate to see the club disband, but I will go along with the majority. One thing tho, what will the tax consequences be to the members if everything must... 		debtdiva
Offline Send Email 		Jun 1, 2004
7:26 pm

Dear Gold Club members, I am not a member of Gold Club, but I am the president of a small investment partnership partially modeled on your group. I have been...
Tucker Gilman
rainfrog_japan@...
Send Email 		Jun 3, 2004
5:52 am

Hi Tucker, Thanks for your kind words. There has been some business and discussions by direct e-mail, but overall it's been pretty quiet. If we decide to...
Paul Hess
hesspaul
Offline Send Email 		Jun 3, 2004
11:27 am

If we decide to disband the club, one possible option would be to cash out each member in stock. I think (not one hundred percent sure) that way we would not...
Lanny Vrooman
lannyleev
Offline Send Email 		Jun 3, 2004
11:33 am

Hi Lanny, So would we send actual (paper) shares to each member if we do it that way? The gains/losses on most stocks are more than a year old so they would be...
Paul Hess
hesspaul
Offline Send Email 		Jun 3, 2004
11:46 am

The best option might be to cash out the members in stock for the two big holdings (Cedar Fair and United Natural Foods) which both have built in gains, but to...
Paul Hess
hesspaul
Offline Send Email 		Jun 3, 2004
1:34 pm
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