Are all partners responsible for the tax debt of a partnership?
- David Greene
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The rule is that, in a general partnership, every partner is liable for all debts of the partnership. If you wanted to be shielded from liability, the partnership should have been set up as a limited partnership with a general…
Here are some important tax tips for new start-up companies.
- David Greene
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Here are some tips relative to the financial and tax implications of a new business. To make the best decisions, you should consult with an attorney or accountant when implementing these tips. (1) Pick a business structure – S or C…
What kind of return does an LLC file?
- David Greene
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An LLC can file its taxes in one of two ways. When the LLC is formed, the members choose how the LLC is to be taxed. It can be taxed either as an S-Corporation or as a Partnership. In the…