Tax advantages of a partnership

    • [DOCX File]LLC’s, LLP’s, PC’s, PARTNERSHIPS

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      The conversion does not result in a deemed termination of the partnership for tax purposes. I.R.S. §708(b); Rev. Rul. 84-52, 1984-1 CB 157. A conversion will create tax liability if the partnership’s liabilities exceed its assets or the member is otherwise relieved of liability. I.R.S. §721(a).

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    • [DOC File]WAYS TO ORGANIZE YOUR BUSINESS - University of Toledo

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      Tax treatment (as a partnership) requires strict compliance with IRS guidelines Advantages and Disadvantages of the Three Forms of Business Organization. Business Form. Advantages Disadvantages Proprietorship Easy and inexpensive to set up. No sharing of profits. Owner has total control. Independence. Few government regulations. No special income taxes.

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    • [DOCX File]BLTS 11e-IM-Ch28

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      An LLC offers the tax advantages of a partnership. LLCs with two or more members can elect to be taxed as either a partnership or a corporation. If no choice is made, an LLC is taxed as a partnership. One-member LLCs are taxed as sole proprietorships unless they elect to be taxed as corporations.

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    • [DOC File]Chapter 12

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      The advantages of a partnership are that it is easy to form, change and dissolve; it facilitates the pooling of capital resources and individual talents; it has no corporate tax burden; and it gives the partners a certain amount of freedom and flexibility. Its disadvantages are that it has a limited life, one partner can bind the partnership to ...

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    • [DOCX File]INSERT TO CHAPTER 2

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      One of the important advantages of an entity taxed as a partnership is the ability to distribute appreciated property from the partnership to a partner/member without triggering a taxable event and consequently without gain recognition of the appreciation in that asset.

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