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H.R. 1935, To amend the Internal Revenue Code of 1986 to provide for the treatment of partnership interests held by partners providing services (1 comment ↓)
H.R. 1935 would amend the Internal Revenue Code of 1986 to provide for the treatment of partnership interests held by partners providing services.
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elliott bossin
June 23, 2009, 7:43pm (report abuse)i have worked in this area for most of my professional life. i do not think that many people realize how many businesses were started with "sweat equity". many small business cannot get bank financing and most look to individuals and small investment companies to get their seed capital. this bill will only punish start-ups and other entrepreneurs with limited capital. although a few people may have taken advantage of the rules, most are simply trying to raise capital, that is not otherwise available. with advent of too big to fail institutions, it is even harder for small businesses to get bank financing. additionally, carried interests do not create capital gain, they just represent a methodology to allocate gain to the participants. based on thirty years of experience, i do not think this is an abusive tactic. if people are terribly concerned, they could just cap the amount someone could recognize rather eliminate the opportunity. say no to hr 1935.