haha, good discussion, I totally agree the 2 disadvantage

haha, good discussion, I totally agree the 2 disadvantage.

1. no step up value. this can be good and bad, no step up meaning assets pass on next generation tax free, the problem is when you try to sale, you will pay capital gain taxes, but 45% estate tax vs. 15% capital gain, it still a good deal.

2. partners are liable from law suit arise from assets, this can be solve by liability insurance.

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