2,553
edits
Line 66: | Line 66: | ||
====A way to limit your liability==== | ====A way to limit your liability==== | ||
A '''limited liability partnership''' (LLP) can limit your liability for another partner’s actions. You should discuss it with a lawyer. Our information on [[Forming a Partnership | A '''limited liability partnership''' (LLP) can limit your liability for another partner’s actions. You should discuss it with a lawyer. Our information on [[Forming a Partnership|forming a partnership]] has more on this. | ||
For tax purposes, each partner treats their share of the partnership's profits as personal income. | For tax purposes, each partner treats their share of the partnership's profits as personal income. |
edits