Today, most men wear a thin to moderately thick mustache with the beard, which is not waxed to curl upward. No hair is grown on the cheeks, so it is not a full beard. Ad. The Van Dyke is a variation of the goatee, and some also refer to the classic goatee with this name. Hair worn only on the chin may also be called a chin beard if it is very long.
A partner's basis is increased by the following items. 1  The partner's additional contributions to the partnership, including an increased share of or assumption of partnership liabilities. 2  The partner's distributive share of taxable and nontaxable partnership income.
For example, if a partnership with two owners makes $500,000 in profit and the owners split profits equally, each would have to report $250,000 in income on their personal tax returns. Partners are responsible for paying self-employment taxes on business income. partnership is a business structure where ownership and management responsibility of a company is split between two or more individuals. A partnership is not a legal entity that is separate from the owners and therefore the partnership itself does not pay taxes.