Page, Lobo, Costales and Preston, PLC helps many businesses grow and form into larger businesses.
We would like to share with our readers the benefits of forming a limited partnership.
A limited partnership has both general and limited partners. Limited partners are mostly investors who do not have the same day to day responsibilities of a general partner.
The Pros Of A Limited Partnership:
Taxes – While limited partners in the partnership get to share in the profits and losses, they do not have to participate in paying personal income taxes.
Liability – A limited partners liability for the debt of the business is limited to the amount of money or property the individual partner contributed to the partnership.
No Day To Day – The general partners deal with day to day operations while the limited partners do not and are consulted for more major business decisions.
Free To Leave – A limited partner can be replaced or leave without breaking up the limited partnership.
Investment – A limited partnership offers investors the opportunity to benefit from the profits and losses of a business without them actually getting involved in the business.
If you are looking into forming a business, call Jonathon Preston at Page, Lobo, Costales and Preston, PLC.