1. Describe a situation (if any) where a partnership pays tax at the entity level. 2. Describe...

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1. Describe a situation (if any) where a partnership pays tax at the entity level.

2. Describe a method to allocate profit and separately allocate items other than ownership percentage. Also, give an example of when you might use this method.

3. The LLC is described as a disregarded entity. What does this mean?

4. What is the default tax return filing for a two-person LLC? Explain.

Posted Date: Nov 24, 2021 03:29 PM

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1. Describe a situation (if any) where a partnership pays tax at the entity level. 2. Describe...

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Answer Part1 Situation where a partnership pays tax at the entity level Acorporations owners can save money by keeping some profits in the company In contrast owners of sole proprietorships partnershi... View the full answer

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