A Reminder That Partnership Tax Status Requires Business Purpose and Profit Sharing Likely, either the partnership or limited liability company is the most flexible of entities now available for ...

The IRS wants to argue that the more involved a limited partners is in the day-to-day operations of a business, the more likely they should be subject to self-employment tax. What is a limited partner ...

Partnerships (which, for the purpose of this article, include limited liability companies treated as partnerships for tax purposes) have long been considered a flexible way of structuring investment ...

Please provide your email address to receive an email when new articles are posted on . Our third and final post in the series “Introduction to Taxation of Sales Proceeds” addresses the taxation of ...

As the name implies, a limited partner in a partnership is a partner, in contrast to a general partner, who has liability for partnership debts only to the extent of the limited partner's investment ...

“Who is FICA and why is he getting all my money?” Rachel Green, Friends, Season 1 Episode 4. In the first season of Friends, Rachel Green’s excitement over getting her first paycheck was immediately ...

LPs invest capital and receive income, carrying no personal liability beyond their investment. GPs manage daily LP operations but face unlimited personal liability if the LP fails. LPs are taxed as ...