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Tax treatments of sole proprietorships and associations

Wednesday, September 20, 2017 @ 10:14 AM | By David Rotfleisch

The choice of business structure for any venture affects how the owners are taxed. This is as true for lawyers as for any other entrepreneur or professional; different law firm structures have different tax treatments. Furthermore, if a lawyer does not like the tax treatment of their current structure, a reorganization on a tax-free basis is usually possible.

This article outlines the taxation of different types of law firm structures. Part one of this three-part series will address the traditional sole proprietorship and association. Part two...