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Bulletproof" Your Wealth with Family Limited Partnerships and LLC's A limited partnership is a partnership that has at least one limited partner and one general partner. Most states require the filing of a certificate with the state in order to be recognized as a limited partnership.The limited partners generally have no liability beyond their contribution to the partnership. If the limited
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There are several advantages to establishing a limited liability
company and many of these compensations revolve around the tax
advantages. A limited liability company if often sought as a
third alternative to forming a corporation or a partnership.
Many corporations are formed because they offer attractive
limits on the personal liability that the business may suffer
due to debts or liabilities. Partnerships don't offer the same
kind of
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Author's Note:This article is the third in a series by Tax ExpertWayne Davies on the advantages of incorporating your smallbusiness or self-employment activity. Article #1:It Can Happen To You:Why Any Sole Proprietorship Is A Risky Businesshttp://www.YouSaveOnTaxes.com/happen-to-you.txtArticle #2:How To Avoid Double The Trouble:Why A Partnership Can Be Twice As Dangeroushttp://www.YouSaveOnTaxes.com/double-the-trouble.txtArticle #3:Three's Company: How To Move From Unlimited Liabilityto Limited Liabilityhttp://www.YouSaveOnTaxes.com hree-is-company.txt------------------------------------------------------------For the
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