Recent content by Maxpowers

Generally, your taxes wont go up unless there is a permanent improvement to the property. When you build a home or a building on a foundation, that becomes part of the real estate and is considered an improvement. Temporary structures (things that are not considered real property) dont add any...

I'm not sure why you feel it is necessary to be rude. First you called me uneducated and now you're down playing my education. I was not simply "told" something, It was taught to me at one of the best business schools in the state. All I'm asking for is a reference. I was under the impression...

I really appreciate the time you spent on your response, Thank you. Im realizing that I should have been a lot more specific with my original question. But first things first. Title 48 Chapter 2e Part 1 Section 102 (4) "Distribution" means a transfer of money or other property from a limited...

Can you please elaborate a little on your response? I don't understand how I have this backwards. According to Utah code 48, by definition a distribution to a partner is in fact a sale of partnership transferable interest back to the limited partnership. If his capital account is not the...

I am a limited partner in a limited partnership that was started in the 70's. I recently found out that one of the general partners has a negative capital account but continues to to take distributions. I was under the impression that your percentage of ownership in the limited partnership is...