Partnership Tax

If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may be taxed on more partnership income than Business Tax, Individual Tax, Partnership Tax

Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? Business Tax, Partnership Tax

Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to self-employment Business Tax, Partnership Tax

When it comes to income tax returns, April 15 (actually April 17 this year, because of a weekend and a Washington, D.C., holiday) isn’t the only deadline taxpayers need to think about. The federal income tax filing deadline for Business Tax, Partnership Tax

In 2015, Congress passed the Bipartisan Budget Act of 2015 and amended a portion of it with the Protecting Americans from Tax Hikes Act of 2015 to change the way partnerships and limited liability companies (LLCs) taxed as partnerships are audited. Previously, when partnerships were audited the effect was only Partnership Tax