Partnerships
This handout provides a description of how partnerships work and explains the tax reporting requirements of the partnership and its partners. Advantages and disadvantages of a partnership are also discussed.
HIGHLIGHTS:
What you need to know about partnerships.
Partnership tax filing.
Tax filing for partners of a partnership.
Advantages and disadvantages of a partnership.
General and limited partners.
CLIENTS WHO MAY BENEFIT:
Business owners who are considering forming a partnership.