October 2021

IRS cracks down on related party basis shifting by partnerships

As such, it covers all of the learning outcomes in Section H of the detailed Study Guide for FA2. Through an exclusive partnership, the Texas State Bar will become the first in the country to receive free access to Smokeball’s trust accounting software for all its members. A federal tax specialist for 50 years, Lynn Nichols provides […]

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Comprehensive Guide to Partnership Accounting Practices

This decision can be triggered by various factors, such as the expiration of the partnership term, mutual agreement, or specific events like the death or bankruptcy of a partner. Once the decision is made, the partnership must notify all relevant stakeholders, including employees, creditors, and clients, to manage expectations and obligations. When normal operations are

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