A partnership agreement may be one of the most important documents for your partnership.  This agreement can govern the day to day operations of the partnership, how important business decisions are made, how income, gain and loss is allocated and more.  A business attorney at The McGuire Law Firm can discuss this agreement with you...Read More

In a previous article drafted by a tax attorney at The McGuire Law Firm, taxation issues upon the sale of a partnership interest were discussed.  The article below has been drafted by a Denver tax attorney to discuss the character of the gain or loss upon the sale of a partnership interest and the Collapsible...Read More

What is economic effect in relation to substantial economic effect?  In previous articles I have discussed substantial economic effect in general and the background or history.  The regulations under IRC 704(b) test a partnership allocation to determine if it has substantial economic effect, and such is a two-part test.  First the allocation must have economic...Read More

When starting a business or acquiring additional capital for a business you may need to decide between obtaining a loan or capital contributions in the form of cash or property.  Both options have advantages and disadvantages for the parties involved.  A Denver business attorney at The McGuire Law Firm has prepared the video below to...Read More

So you have worked hard with your partners and built a strong and respectful business.  Now you wish to sell your partnership interest.  Maybe you are looking to retire, or maybe you just want to try a new endeavor, but regardless you are going to sell your partnership interest.  As you begin the process, a...Read More

Certain small businesses may choose to make the S corporation election and be taxed as an S corporation.  The video below has been prepared by a tax lawyer at The McGuire Law Firm to provide some general information regarding the S corporation election.  You can speak with a Denver tax lawyer by contacting The McGuire...Read More

A Denver business attorney and tax and tax attorney at The McGuire Law Firm can assist you with your business and tax legal needs.  From business formation to the sale and transfer of business assets or interests a business attorney at The McGuire Law Firm can help you!  Below is a video discussing a deficit...Read More

Under the 752 Treasury Regulations, if through a single transaction, a partner incurs both an increase and a decrease in the partner’s share of the partnership liabilities, only the net increase is treated as a contribution of money and only the net decrease is treated as a distribution of from the partnership.  Below is an...Read More

Partnership agreements or operating agreements may call for special allocations of items of income, gain, loss, deductions or credits to specific partners.  The video below has been prepared by a business attorney at The McGuire Law Firm to provide general information regarding special allocations.   Contact The McGuire Law Firm to speak with a business...Read More

A Denver business attorney at The McGuire Law Firm can assist you with your business needs.  From business formation and contracts to tax analysis and the sale or transfer of your business, a business attorney at The McGuire Law Firm can assist you!  The video below has been prepared to provide general information regarding a...Read More