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When possible ,avoiding classification as a partnership for federal income tax purposes is often a worthy goal which of the following reasons: a. Simplified tax
When possible ,avoiding classification as a partnership for federal income tax purposes is often a worthy goal which of the following reasons:
a. Simplified tax filings and ability to make elections at the partner level instead of a the partnership level
b. Tax free treatment for the related net income
c. exemption from self-employment tax for the related net income
d. Larger personal exemption deductions for partners
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