Compliance » To Avoid Tax Time Surprises, Mind Your Partnership Agreement

To Avoid Tax Time Surprises, Mind Your Partnership Agreement

April 17, 2014

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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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