An overview of the US federal income tax rules that apply to partnership divisions, including guidance on determining whether a transaction is treated as a partnership division, the tax form of a ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. A partnership agreement (or operating agreement, in the ...

Like sole proprietors, members of a partnership claim the business' income or losses as their own. Partnerships usually divide income equally or based on their ownership shares. If one partner has ...

Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. Thomas' experience gives him expertise in a ...

Monte Jackel of Jackel Tax Law discusses partnership taxation rules and the role they play in former President Trump’s ongoing IRS audit. This transcript has been edited for length and clarity. David ...

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 ...

The Internal Revenue Service has issued a notice waiving tax penalties for certain partnerships that file K-1 schedules failing to report information about the partners’ negative tax basis capital ...

Not all entrepreneurs want to start a business on their own. Instead, they prefer to work with others to start and build their companies. One way to do this is by creating a general partnership, in ...