In recent years, the IRS has focused its attention and resources on large partnerships. In 2021, the agency launched an initial phase of its Large Partnership Compliance (LPC) program. Under this ...

Learn how companies legally keep assets and liabilities off their balance sheets to maintain favorable debt ratios, and the implications for investors.

Stakeholders in a business need a way to conveniently assess the financial position of the firm. The balance sheet is a document designed to do just that. It provides a concise summary of everything a ...

Discover the essential components of a balance sheet, such as cash, liabilities, and retained earnings, to enhance your ...

Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry. With over a decade of editorial experience, Rob Watts ...

For t*ax and legal purpose*s, a partnership is just like a sole proprietorship but with multiple owners rather than a single one. The partnership is taxed on how much it actually earns, rather than ...

A balance sheet is a versatile document that offers a snapshot of a company's or individual's finances at a given point in time. Businesses can use balance sheets to develop plans for the future and ...

When you want to know a company’s financial health, it helps to look at its balance sheet. But if you’ve never seen a balance sheet before or don’t know how to read one, all you’ll see is a collection ...

A balance sheet is a financial statement that provides a broad overview of a given firm's assets, liabilities and shareholders' equity. This important document gives management and other interested ...