Remove partnerships
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Tax Deferral Strategies for Real Estate: Using the 1031 Exchange in Partnerships

CTP

The matter can become more complicated when the property is owned not by an individual but by a partnership or LLC. Partnerships may be formed as a real estate investment partnership where each partner contributes different properties. Other partners may want to do a 1031 exchange but keep the partnership intact.

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The New Tax Court Limited Partnership Ruling: What to Know

CPA Practice

Tax Court determined that the exception to net earnings from self-employment in Section 1402(a)(13) of the Internal Revenue Code of 1986, as amended, does not automatically apply to all limited partners in a state law limited partnership. If this already sounds familiar, it should. Here’s what it is, how it happened, and why it matters.

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Partnerships Face Increased Tax Audit Risk

CPA Practice

With the IRS laser-focused on enforcement, many partnerships will find themselves subject to their first IRS audits under the new procedurally complex partnership audit rules. Under these rules, the default is that the partnership pays an entity-level tax called an “imputed underpayment” (IU) on any adjustments.

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Ignition and Intuit Expand Partnership

CPA Practice

Ignition , a platform for professional services to get paid faster and run smarter, has expanded its strategic partnership with Intuit by integrating with ProConnect Tax , a cloud-based tax software. By advancing our partnership with Intuit to integrate with ProConnect, we’re helping firms to set themselves up for success.

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Sage unveils host of new products, features and partnerships

Accounting Today

Sage, the company behind Sage Intaact and other products, announced a host of new products, features and partnerships at its Las Vegas conference.

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Mastering Partnership Capital Accounts: Navigating Tax Complexities and Equity Valuations

Withum

Capital accounts track the net equity owned by each partner in a partnership and typically include such information as initial and subsequent capital contributions, each partner’s distributive share of the profits and losses, and all distributions.

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Navigate the IRS audit storm: Essential extension strategies for partnerships

Accounting Today

With tax authorities scrutinizing partnerships, CPAs and tax pros need to think more strategically about filing for extensions.

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