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Percent ownership of the partnership

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Reference no: EM13676665

Please assist with information on partnerships:

Liability risk is a big factor to consider and this can add up to a lot. Do you think that it is fair that a partner can be liable for more than their percent ownership of the partnership?

Moreover, in a partnership some partners have to self employment taxes on their earnings. What causes them to have to pay self employment taxes?

Reference no: EM13676665

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