Two or more individuals launch a partnership, which is a form of business organization. Partnerships may change upon the death or withdrawal of one of the partners or the admission of a new partner.

The University defines capital equipment as tangible personal property with a useful life greater than one year with an individual or componentized cost of $5,000 or greater. The equipment can be ...

The Internal Revenue Service released an early draft Thursday of the instructions for Form 1065, U.S. Return of Partnership Income, with newly revised directions for how partnerships should report on ...

The Tax Court addressed the proper treatment of an accounting firm’s distributions of “client-based” intangible assets, the capital accounting rules of Regs. Sec. 1.704-1(b)(2)(iv), and the tests for ...

The IRS provided transition penalty relief Tuesday to partnerships in complying with new rules for reporting partners’ capital account balances. As it explained in the notices and news release, the ...

Loran Armstrong: Chief Operating Officer at Rockwell Capital Group, Experts in Accounting and Tax. If you answer “no” to any of these, it may be time to consider external support. However, ...