Partnerships Have to Maintain Accurate Capital Accounts

Published Categorized as Articles, Houston, Tax

One of the tax benefits of partnerships is that they are flexible. The parties can agree to differing terms and the values and dollars associated with those terms can be trued-up in subsequent years. The allocation of profit and loss provisions provides an example. Depending on their agreement, the parties can allocate profits and losses… Continue reading Partnerships Have to Maintain Accurate Capital Accounts

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