Question

2. It might surprise you to know that limited partnerships can be formed by families as well as companies. Use the Internet t
0 0
Add a comment Improve this question Transcribed image text
Answer #1

family limited partnership can be formed by members of family coming together and they pool money to establish a business..
they take up shares and distributed profit on pronate basis among family members. it has two types of partners general and Limited partners .
General partners : they have a significant amount of shares and are involved in management of busines. they can also be paid salary along with sharing profit ..
Limited partner will take up shares of the business for dividend profit sharing they do not participate in management .
IRS on family partnership
as per IRS flp helps the family In tax erosion and to transfer family properties to maximum to next generation.
according to IRS flp helps in taking benefits in gift tax and estate tax. IRS has been regularly filing litigation against many flp in the courts

whether the Irs will be winning the litigation will depend on the facts of flp case.

Add a comment
Know the answer?
Add Answer to:
2. It might surprise you to know that limited partnerships can be formed by families as...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Limited Partnerships It might surprise you to know that limited partnerships can be formed by families...

    Limited Partnerships It might surprise you to know that limited partnerships can be formed by families as well as companies. Use the Internet to find out how to set up a family limited partnership. Who would be the general partners and who would be the limited partners--and why? What advantages would this type of arrangement have for the family? What has the IRS said about family limited partnerships? Franchise Students should research the costs and benefits of becoming a franchisee...

  • Health Care in the United States—For Better or Worse? The final hours came as no surprise...

    Health Care in the United States—For Better or Worse? The final hours came as no surprise to his wife and family, who made daily visits to the hospital where Sam had been treated on and off for the final year of his life. His doctor had spared no expense to give him the most effective treatments available. But wouldn’t it have been nice if he could have died at home? they thought to themselves as they gathered at the funeral....

  • Genetic cancer screens are routinely done today. How can they benefit families and society? Analyze any...

    Genetic cancer screens are routinely done today. How can they benefit families and society? Analyze any limitations of the genetics cancer screens as well. Being a carrier of the BRCA1 mutation does not mean that Katie will develop cancer, but she is at an increased risk compared to the general population. Consider the two-hit hypothesis. Describe any lifestyle changes she could make to reduce her risk of developing cancer? Consider the advantages and disadvantages of the options that Katie has....

  • TRUE OR FALSE/ MULTIPLE CHOICE and word response questions. C. a more permanent government involvement in the ba...

    TRUE OR FALSE/ MULTIPLE CHOICE and word response questions. C. a more permanent government involvement in the banking system, even creating a pational banking system that owns and operates most of the global and regional banks. Deshort-term increases in government spending to stimulate the economy. 20. When describing the state of the U.S. economy, reporters often refer to the nation's GDP, its unemployment rate, and the CPI. Explain what each of these terms means and why each measure is significant....

  • oco CHCCCS025 Support relationships with carers and families Assessment Part B Read the case study and...

    oco CHCCCS025 Support relationships with carers and families Assessment Part B Read the case study and answer the following questions:- Case study (questions 1-9) Travis is a young carer and primary carer for his mother. Trudi, whose condition has begun to deteriorate over the past few months. Some of Trudi's friends also provide assistance by cooking meals and doing some of the housework. Her friends have come to know her food references well and together have developed a menu list...

  • In this written assignment, you have the opportunity to share your thoughts about how to deliver...

    In this written assignment, you have the opportunity to share your thoughts about how to deliver client-centered culturally competent care and work collaboratively with others. The Case of Mrs. G. Mrs. G. is a 75 year old Hispanic woman who has been relatively well all of her life. She had been married for 50 years and had five children. Her children are grown with families of their own. All but one of her children live in other states. Mrs. G.'s...

  • As part of their Global Health Partnerships program (2008-2011), Pfizer Inc., and the Pfizer Foundation supported...

    As part of their Global Health Partnerships program (2008-2011), Pfizer Inc., and the Pfizer Foundation supported thirty-one promising and innovative cancer and tobacco-control projects from forty-six countries from Asia to Africa. The Pfizer Foundation’s investment included the provision of tailored technical assistance provided to each grantee to support successful program implementation, build evaluation capacity, and establish a network that would foster a global community of practitioners to fight cancer. The Institute for Global Tobacco Control at the Johns Hopkins Bloomberg...

  • Evaluate the following case study utilizing the AHIMA Code of Ethics, the AHA Patient Care Partnership...

    Evaluate the following case study utilizing the AHIMA Code of Ethics, the AHA Patient Care Partnership and HIPPA guidelines (sample HIPAA Privacy Notice is in Appendix C of textbook). What issues exist in this case study? What are the consequences of the situation? What resolutions are necessary? Jenna Peterson, a 20 year old college student, made an appointment to be seen by Susan Grant, M.D., one of the partners at Mountainside Family Medicine Associates. Jenna had been seeing Dr. Grant...

  • Evaluate the following case study utilizing the AHIMA Code of Ethics, the AHA Patient Care Partnership...

    Evaluate the following case study utilizing the AHIMA Code of Ethics, the AHA Patient Care Partnership and HIPPA guidelines (sample HIPAA Privacy Notice is in Appendix C of textbook). What issues exist in this case study? What are the consequences of the situation? What resolutions are necessary? Jenna Peterson, a 20 year old college student, made an appointment to be seen by Susan Grant, M.D., one of the partners at Mountainside Family Medicine Associates. Jenna had been seeing Dr. Grant...

  • Sometimes when you are sick, your forehead feels really warm. You might have fever. How can...

    Sometimes when you are sick, your forehead feels really warm. You might have fever. How can you find out whether you do? By taking your temperature, of course. But what temperature should the thermometer show if your're healthy? Is this temperature the same for everyone? Several years ago, researchers conducted a study to determine whether the "accepted" value for normal body temperature, 98.6°F, is accurate. They used an oral thermometer to measure the temperatures of a random sample of healthy...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT