Partnerships are not subject to income tax at the entity level. Instead, they operate as pass-through entities, meaning the partnership’s income, deductions and credits flow directly to the individual ...

Likely, either the partnership or limited liability company is the most flexible of entities now available for business- or investment-related ventures. Whether either such entity is a partnership for ...

Vlad Rusz is a CPA at Centaur Digital Corp, helping busy business owners efficiently manage their accounting systems. The IRS, and some online tax preparation companies, offer a way to file a personal ...

The partnership agreement often provides for the allocation of separately stated items of partnership income, gain, loss, deductions and credits among the partners (known as a partner’s distributive ...

Partnerships (which, for the purpose of this article, include limited liability companies treated as partnerships for tax purposes) have long been considered a flexible way of structuring investment ...

A partnership whose sole asset is all the stock of a corporation offers opportunities but with potential pitfalls.

The Biden administration said large partnerships were illegally avoiding hundreds of billions in taxes. Trump says they shouldn’t have to report the transactions.

Congress is debating the biggest rewrite of U.S. partnership rules in 60 years, which may lead to higher taxes for real estate and finance businesses or prompt them to restructure operations to avoid ...

Taxpayers often use entities characterized as partnerships for federal income tax purposes to conduct their business activities. In addition to offering limited liability (e.g., limited liability ...

On June 17, 2025, Senator Ron Wyden introduced two extensive partnership tax reform bills in the Senate (collectively, the “Bills,” and available here and here). The Bills expanded upon and ...

Discover tax-saving strategies by deducting startup business expenses. Learn the rules to reduce your taxable income ...

New estate tax rules and updated gifting limits give entrepreneurs fresh opportunities in 2026 to protect more wealth, reduce taxes and strengthen their financial legacy.