Transactions between partners and partnerships

Assignment Help Accounting Basics
Reference no: EM13940985

Transactions between partners and partnerships

The following article discusses the risk involved in treating partners as employees. One of the primary risks involved in the article relates to employment tax issues. Review the article "Transactions between Partners and Partnerships" on page 21-39 in the text. From your review discuss at least one reason you feel the IRS has repeatedly opposed the treatment of a partner as a partner and an employee. Provide at least one scenario where a partner can be treated as an employee without any consequences.

Below is the link to the article for the discussion, "Treating partners as employees: Risks to consider."

https://www.journalofaccountancy.com/Issues/2014/Aug/20149676

Reference no: EM13940985

Questions Cloud

Performance appraisal instrument : We were given a Performance Appraisal Instrument and we were asked to fill it out pretending to be the managing director of a company. ( I don't need to submit that part).
Happen to the total working capital requirement : David Vardon runs a small manufacturing business which he started 5 years ago. Although sales growth and profits have been fine, he is becoming increasingly concerned about his liquidity position and is under pressure from the bank to reduce his o..
Philanthropic capital markets : During our December 8 class, we will address the topic of "Philanthropic Capital Markets" by discussing the case study "Peninsula Community Foundation." This discussion has three learning objectives:
Use loops in the "equals" method to reduce the fractions : The equals method modification should loop repeatedly until the user decides to quit. Inside the body of the loop, the programshould allow the user to enter a target fraction into an anonymous object and learn whether the fractions are identical.
Transactions between partners and partnerships : Transactions between partners and partnerships. The following article discusses the risk involved in treating partners as employees. One of the primary risks involved in the article relates to employment tax issues. Review the article "Transact..
Prepare the entry to recognize the first interest payment : Prepare the entry to recognize the sale of the bonds on December 31, 2009. Prepare the entry to recognize the first interest payment on June 30, 2010.
Key forces for organisational change : Identify the key forces for organisational change (both internal and external) at Lion Nathan/ Lion. Draw on Kotter's eight-step plan for implementing change to analyse the change process that has been implemented at Lion Nathan and Lion. Evaluate..
Identify possible sources of energy : Produce a design specification which includes at least 10 requirements and constraints and produce a design solution in the form of a concept sketch with an accompanying explanation
Emerging trends in organisational behaviour : The changing workforce is one of the emerging trends in organisational behaviour. Describe how the workforce is changing and briefly identify two consequences of these changes for organisations.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Communications between predecessor and prospective auditors

Assume that Smith & Smith CPAs audited Apollo shoes. Inc last year Now CEO Larry Lancaster wishes to engage Anderson, Olds, and Watershed, CPAs (HOW) to audit its annual financial statements.

  Length of receivables conversion period

Last year Bizmart had credit sales of $32 million and a net profit margin of 8%. If Bizmart had accounts receivable of $4.5 million, what was the length of the receivables conversion period?

  In the following independent situations indicate the effect

in the following independent situations indicate the effect on taxable income and e amp p stating the amount of any

  What are the total amounts of direct manufacturing costs

martinez companys relevant range of production is 7500 units to 12500 units. when it produces and sells 10000 units its

  The weighted average number of common shares

Lavender Corporation had 10,000 shares of common stock outstanding at the beginning of the year. On July 1, it issued 5,000 shares, and on September 1 it reacquired 600 shares as treasury stock.

  Calculate the marginal tax rate and effective tax rate

a. Calculate the marginal tax rate and the effective tax rate for each of the C corporations. b. Explain why the marginal tax rate for a C corporation can exceed 35%, but the effective tax rate cannot do so.

  A company has outstanding 100 mill par value bonds that pay

a company has outstanding 100 mill par value bonds that pay an annual coupon of interest of 10.5 . par value of each

  Debate the logic used in the following statement

Debate the logic used in the following statement The person responsible for approving cash disbursements should also prepare the bank reconciliation because he is most familiar with the checks that have been written on that bank account.

  At the end of the year actual manufacturing overhead costs

at the end of the year actual manufacturing overhead costs were 170000 and applied manufacturing overhead costs were

  Assuming that beech corporation does not elect to expense

Assuming that Beech Corporation does not elect to expense but chooses to amortize organizational-expenditures over 15 years, calculate the corporation's deduction for its calendar tax year 2010.

  Stores break-even point

Its average product sells for $28 a unit. the variable cost per unit is $18. the store experiences a 45 percent tax rate. What are the store's fixed costs expected to be next year? Calculate the store's break-even point in both units and dollars.

  Nombre company managemnet predicts 56000000 of variable

nombre company managemnet predicts 560000.00 of variable costs. 860000. of foxed costs and a pretax income of 328000.00

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd