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How to Pay a Non-Partner General Manager of Limited Partnership

Small Business Finances, Small Business Regulatory and Compliance Issues / Limited Partnership, Partnership, Get Paid, General Partner

In some cases, all the partners of a limited partnership may be investors only and not managers. The partnership may hire an outside general manager (employee) to make the day-to-day decisions, and therefore, acts as the manager. In this case, the general manager is an employee of the business, but since they are not a partner (aka owner), their income is just like that of an employee in any business.

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How to Get Paid in a Limited Partnership

Small Business Regulatory and Compliance Issues, Equity Funding (Ownership/Stock), Small Business Finances / Limited Liability, General Partner, Owner Draws, Limited Partnership, Partnership, Get Paid

How You Get Paid as A Non-Partner General Manager or As General Partner of a Limited Partnership Is Different. Here Is What You Need to Know

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How to Get Paid as a General Partner of Limited Partnership

Small Business Finances, Small Business Regulatory and Compliance Issues, Equity Funding (Ownership/Stock) / Get Paid, Limited Liability, General Partner, Limited Partnership, Partnership

A partner in a limited partnership that is a decision-maker (general partner) is considered an employee of the business by the IRS and is treated differently than limited partners. Income for general partners is considered earned income and is subject to additional taxes but also to additional potential tax deductions. Moreover, as a general partner, you are exposed to additional liabilities.

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How to Get Paid as an Owner of a Pass-Through Entity

Small Business Finances, Small Business Regulatory and Compliance Issues / Income Tax, Get Paid, Sole Proprietor, S Corp, Limited Liability, Limited Liability Company (LLC), General Partner, Single Member LLC

How you pay yourself as an owner depends on the type of entity you are and how many owners there are. This post lays the groundwork and defines a few terms that should help demystify how entities pay the owners of the business.

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