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[quote=Anonymous]Firms can be quite different in how they actually structure partnerships and partner compensation. There are 3 in our family and each of our firms have different structures. Generally, though, the reason the others are saying this to your husband is that he will now not be treated as an employee for the overhead items. His tax structure will be different (and you'll be paying in multiple locations), his benefits will be different and cost you more, he may have to pay in capital to the partnership, he may or may not have a guaranteed base and so his comp may fluctuate wildly with his work + equity + attribution. So for a few years, junior partners can have less take home pay than senior associates. It is a temporary situation, and if it isn't, well, then he won't be a partner for long.[/quote]
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