Tag: partnership
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Partners may have to report more income on tax returns than they receive in cash
If you’re involved in a partnership, you likely know it’s taxed differently than a C corporation. In some cases, partners may be taxed on more partnership income than was distributed to them from their partnerships. Here’s why.
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Tax considerations when adding a new partner at your business
If you’re looking for a new partner to add to your partnership, you may think the hard part is over once you find the right person. But there may be tax challenges ahead.