am wants to help his brother, Lou, start a new business. Lou is an auto mechanic but has little business sense, so he needs Sam to help him make business decisions. Should this partnership be arranged as a general partnership or a limited partnership? Why? Should they consider any other form for structuring their business? In your post, only discuss the partnership entity options, do not discuss other business types such as S-corporations.
am wants to help his brother, Lou, start a new business. Lou is an auto mechanic but has little business sense, so he needs Sam to help him make business decisions. Should this partnership be arranged as a general partnership or a limited partnership? Why? Should they consider any other form for structuring their business? In your post, only discuss the partnership entity options, do not discuss other business types such as S-corporations.
Chapter15: Taxing Business Income
Section: Chapter Questions
Problem 1DQ
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Sam wants to help his brother, Lou, start a new business. Lou is
an auto mechanic but has little business sense, so he needs Sam to help him make business decisions. Should this
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