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Customer Accounts > Tax Advantaged Investments > Flashcards

Tax Advantaged Investments Flashcards

1
Q

Are partnerships taxable?

A

No, partners include income on their own taxes

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2
Q

What different liabilities do General Partners and Limited Parterns assume?

A

General - unlimited

Limited - limited by investment

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3
Q

4 Corporate characteristics looked at by IRS

A

Continuity of Life
Free transferability of shares
Limited Liability
Centralization of management

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