1. Why is it often difficult to dispose of an interest in a partnership?
2. What is the principal disadvantage of the general partnership arrangement?
3. How does the limited partnership arrangement affect an entity's ability to raise capital?
4. Define "checking the box."
5. How is a family limited partnership usually formed?
6. What are the risks associated with the taxation of an FLP?
7. What is an operating agreement and why is it important to have this document?
8. What are some of the advantages of a corporation?
9. What are some of the disadvantages of an S corporation?
10. Describe the purpose and general calculation of the Oualified Business Income deduction.