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Limited partnerships (LPs) are a specific type of business structure that consists of at least one general partner and one or more limited partners. The general partner typically assumes full ...

The IRS wants to argue that the more involved a limited partners is in the day-to-day operations of a business, the more likely they should be subject to self-employment tax. What is a limited partner ...

The Fifth Circuit, overruling the Tax Court, held that for purposes of Sec. 1402(a)(13), “limited partner” means a partner in a limited partnership that has limited liability.

Choosing the right business structure is critical for the operation of a business. General and limited partnerships are common business structures for those wanting to enter business together. While ...

The Fifth Circuit, overruling the Tax Court, held that for purposes of the Sec. 1402(a)(13) exclusion from self-employment ...

Discover what a general partnership is, its key features, unlimited liability implications, and real-world examples. Learn ...

In today’s litigious society, safeguarding your wealth has never been more important. For high-net-worth individuals, business owners and anyone with substantial assets, protecting those assets from ...

Family limited partnerships (FLPs) and trusts are both tools used in estate planning, but they serve different purposes and offer distinct advantages. An FLP is primarily designed to hold and manage ...