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You have been hired by LJ, LLC to prepare the tax return for the partnership. Lala and her brother, John, are 50-50% partners. Lala is
You have been hired by LJ, LLC to prepare the tax return for the partnership. Lala and her brother, John, are 50-50% partners. Lala is the managing partner who is responsible for all daily activities and financial decisions. John is a passive investor. You were hired by Lala and never met John. While preparing the tax return, you notice that Lala had paid over $10,000 of personal expenses through the partnership. What obligation or ethical responsibility do you as the tax preparer have to make sure John is aware of his sister's conduct
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As a tax preparer you have certain ethical obligations and responsibilities to ensure the integrity of the tax return and protect the interests of all partners in the partnership Heres a stepbystep ap...Get Instant Access to Expert-Tailored Solutions
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