Private market conversations come with their own vocabulary, and the two acronyms GP (General Partner) and LP (Limited Partner) frequently appear in documents, pitch materials, and manager meetings.

The IRS wants to argue that the more involved a limited partners is in the day-to-day operations of a business, the more likely they should be subject to self-employment tax. What is a limited partner ...

The Fifth Circuit vacated and remanded a Tax Court decision, holding that the limited partner exception from net earnings from self-employment under Sec. 1402(a)(13) applies to a partner in a limited ...