Law School Discussion

Partner Incomes

Re: Partner Incomes
« Reply #10 on: May 24, 2008, 12:44:11 PM »
All shareholders/partners/owners, that are considered active and not passive owners, of any company must take a salary and pay social security and medicare taxes on that income.

but the salary that they get is a chunk of the profits in the firm. The PPP is really the average income of the partners.

Agreed. I was answering the question that the op asked.

Re: Partner Incomes
« Reply #11 on: May 24, 2008, 01:17:14 PM »
oh, I read the OP as asking if the partners got compensation in addition to a share of the profits.