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September 2019

Guaranteed Payments Might Not be Guaranteed (To Your Benefit)

Sep 3, 2019

Partnerships and entities taxed as partnerships, such as some LLCs, often pay partners specific amounts outside of the partnership’s usual income allocation.  This is usually in the form of health insurance, retirement contributions, or additional income for specific partners operating the partnership. These additional amounts are most often reported as guaranteed payments to the receiving […]

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Myrna Stacey
QuickBooks® Consultant