In Sirius Solutions, the court rejected a participation-based test for self-employment tax, finding that 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 ...

Opinion: Texas LLC and partnership agreements can no longer rely on background legal norms to police discretion or fill gaps.

The Tax Court, consistent with past cases, applied a functional analysis of a limited partnership’s individual partners’ roles and responsibilities to find they could not apply Sec. 1402(a)(13)’s ...

Historically, CPAs have dissuaded estate planning clients from funding family limited partnerships with personal use property, such as a primary or secondary residence. In the past the IRS has ...