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Business Law

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Business Law

A Partnership Distribution Menu: Just Say No To Phantom Income

by Steven R. Schneider and Brian J. O'Connor

No tax advisor wants to have to tell his or her clients that they owe a tax without receiving a corresponding amount of cash to pay it. Such cashless income is often referred to as "phantom" or "dry" income. Unfortunately for taxpayers investing in tax partnerships, phantom income issues frequently arise. Learn how to avoid these issues by downloading this article.



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