Tax Considerations When Adding a New Partner to Your Business By: Brian Palisin Adding a new partner to a partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a new partner. The new partner will […]
Why do partners sometimes report more income on tax returns than they receive in cash? By: David M. Reape If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may be taxed on more partnership income […]
SBA Issues Interim Final Rule on PPP Loans to Partnerships and Seasonal Employers The U.S. Small Business Administration (SBA) issued a new interim final rule 5/13/2020, which allows lenders to increase existing Paycheck Protection Program (PPP) loans to partnerships and seasonal employers. This […]
SBA Issues New PPP Guidance for Partnerships & Self-employed The SBA recently (4/14/2020) issued a new Interim Final Rule that supplements the guidance for the Paycheck Protection Program (PPP) included in the first interim final rule issued on April […]
Beware the Ides of March — if you own a pass-through entity By: David M. Reape Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. […]