Another point is about taxes on income. For the children are controlling 99% of the interests of partnership, the tax rate will be lower. Will be because numerous are usually in the tax bracket (say 25%) than the fogeys (say 35%) This cuts down on the tax burden by 10 points. If for example the partnership is generating say $100,000 a year, then almost $99,000 is taxed at the hands in the kids at lower rankings.
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