For example, who will keep the books? Thus, neither the corporation nor the shareholders could deduct the expenditures. Agreeing on a procedure for admitting new partners will make your lives a lot easier when this issue comes up. As a consequence, the partners will benefit by making this requirement explicit, either as a provision of their partnership agreement or through a written policy of the partnership. You should carefully think through issues like these when setting up the decision-making process for your business. Will profits and losses be allocated in proportion to a partner's percentage interest in the business? To be deductible, the partnership agreement must state in writing that the partner pay the expenses. You might not want to make ironclad rules about every management detail, but you'd be wise to work out some guidelines in advance. Es werden keine laufenden Zinsen gezahlt. Unreimbursed expenses incurred by non-employee S-corporation shareholders are generally not deductible TC Memo and TC Memo
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