Posts Tagged ‘Partners’


How a Small Partnership Can Get The Failure to File Penalty Waived

Face it, no one likes to get letter from the Internal Revenue Service (“IRS”).

This is particularly true when you are being assessed a penalty.

The IRS has many different penalties.  One penalty they have is the failure to file penalty.

For partnerships or Limited Liability Companies (“LLC”s) that file a Form 1065 the penalty for failure to file is $195 per month times the number of partners. The good news is that the maximum number of … Continue reading »


The Difference Between an LLC and a Subchapter S Corporation

Startup businesses are often considering either a Limited Liability Company ("LLC") or a Subchapter S Corporation.  Here are the differences:


Why Every Sole Proprieter Should Convert to a LLC

We live in litigious society.  Businesses that are organized as sole proprietorships are taking on unnecessary risks.


Web Statistics