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April 19, 2023
Question

Can I change the % of a partnership from year to year to minimize taxes owing?

  • April 19, 2023
  • 1 reply
  • 0 views
Changing partnership from a historical 60/40 to 40/60 reduces taxes owing by $1200

    1 reply

    April 25, 2023

    You should be claiming the same percentage every year as per your business partnership agreement originally filed. If you hold 60/40 of the business - you claim 60/40.

     

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