Maria is in Partnership with a professional colleague and they run a successful business. For the 2017 tax year the partnership had a profit of $325,000. The Partnership Agreement specifies that the Maria and his colleague have equal interest in the Partnership

| November 30, 2018

Maria is in Partnership with a professional colleague and they run a successful business. For the 2017 tax year the partnership had a profit of $325,000. The Partnership Agreement specifies that the Maria and his colleague have equal interest in the Partnership. The Partnership Agreement also reflects a clause allowing Maria to pay himself a wage of $150,000 for his daily management of the business in addition to her half share of profits. Note that the above profit of $325,000 has had Maria&rsq …

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