Partnerships don’t pay federal tax; income, losses, and credits pass to partners, who report them. Learn more about partnership taxes here. Do you have a great business idea, but you’re not sure you ...

Andy Smith is a Certified Financial Planner (CFP®), licensed realtor and educator with over 35 years of diverse financial management experience. He is an expert on personal finance, corporate finance ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. A partnership agreement (or operating agreement, in the ...

Here's what you should know about income tax, what it is, how it works, how to calculate it and which states don't have it.

An overview of the US federal income tax rules that apply to partnership divisions, including guidance on determining whether a transaction is treated as a partnership division, the tax form of a ...

Partnerships are not subject to income tax at the entity level. Instead, they operate as pass-through entities, meaning the ...

Forbes contributors publish independent expert analyses and insights. I cover changes and new developments in the federal tax law. May 31, 2024, 09:00am EDT May 31, 2024, 09:53am EDT S Corporation ...

The American Institute of CPAs has sent a letter to the Multistate Tax Commission and a related work group recommending changes in their proposed approach to state tax sourcing of partnership income.

he claim of right doctrine requires taxpayers who receive disputed income to treat it as taxable income if there are no restrictions on how they can use this money. When there are restrictions—as when ...