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The partnership had 300000 of taxable income before the

Question - Partner Z of the EZ partnership provides services to the partnership in exchange for 30% of the profits, but not less than $150,000. The partnership had $300,000 of taxable income before the guaranteed payment. How much is Z's guaranteed payment, and how much is his total income for the year from EZ?

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Accounting Basics: The partnership had 300000 of taxable income before the

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