Discuss pros and cons of drawing up a partnership agreement

Assignment Help Accounting Basics
Reference no: EM131790341

Discussion: "Structuring the Partnership Agreement"

Respond to the following:

• Go to the irs gov website and review the instructions for Form 1065, U.S. Return of Partnership Income and any supporting schedules in preparation of preparing a partnership tax return. Be prepared to discuss.

• Imagine that one of your colleagues has offered you the opportunity to become a partner in a new business venture. The colleague stipulates that due to your past relationship, there is no reason to draw up a partnership agreement. From the information you've gathered from Form 1065, identify the different partnership roles and select the one with the least potential liability if the business fails. Discuss the pros and cons of drawing up a partnership agreement. Defend your position.

Reference no: EM131790341

Questions Cloud

Create database that will model a small school : You are going to create database that will model a small school.Here is some basic info you will need in order to begin creating your database
How much goodwill should be recognized : In this transaction (which is not a pooling of interests), how much goodwill should be recognized
What is the crossover rate and what is its significance : Construct NPV profiles for Projects A and B and what is each project's IRR - What is the crossover rate, and what is its significance
Introduction to programming-python : 1. Provide an example of a 'list' and explain how it would be used as part of a problem solution.
Discuss pros and cons of drawing up a partnership agreement : Discussion- Structuring the Partnership Agreement- Discuss the pros and cons of drawing up a partnership agreement. Defend your position.
Explain the effect of the law for the given situations : In the medical field, general practitioners generally receive lower salaries than surgeons. Suppose the government passes a law that requires hospitals.
Major challenges in managing information systems : 1. Define 'data', 'information' and 'knowledge'. What are the major challenges in managing information systems?
Prepare journal entries for the september transactions : Consulted for a Senate candidate and billed the client for services rendered, $3,000. Prepare journal entries for the September transactions
What is the mean for the men : Men The Dietary Reference Intake of proteins is different for men and women. For both, the distribution is approximately Normal.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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