Question: Partnership Formation. What are the basic tax rules for partnership formation and operation? LLCs. Discuss the pros/cons of a LLC. Does your state allow the

  1. Partnership Formation. What are the basic tax rules for partnership formation and operation?
  2. LLCs. Discuss the pros/cons of a LLC. Does your state allow the LLC form of business?
  3. At-Risk Rules. Discuss the At-Risk rules and the passive loss rules. How do these rules affect a taxpayer? Should we have these rules?

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