To Avoid Tax Time Surprises, Mind Your Partnership Agreement
April 17, 2014
In a tax dispute, the Fifth Circuit Court of Appeals has ruled against a Texas attorney who had deducted some routine business expenses, including advertising and contract labor. William Peacock, a senior writer at FindLaw, explains what happened and how the problem can be avoided. It involves both how the partnership agreement is written, and what the attorney does or fails to do when certain expenses are incurred.
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