Accounting for partnerships vs corporations involves the same basic steps. Both must track revenue and expenses, file payroll reports if they have employees, account for inventory, pay property taxes ...

They say that two heads are better than one, and that's how partnerships came to be. Whether you're a doctor looking for a peer to take on more patients, a lawyer who wants to branch out into ...

The University defines capital equipment as tangible personal property with a useful life greater than one year with an individual or componentized cost of $5,000 or greater. The equipment can be ...

The IRS provided transition penalty relief Tuesday to partnerships in complying with new rules for reporting partners’ capital account balances. As it explained in the notices and news release, the ...

Responding to concerns that some partnerships required to report capital account information may be unable to comply, the IRS is postponing the requirement to report partners’ shares of partnership ...