Thomas Senter

Why does it matter if he is getting a 1099 or a W-2? Doesn’t the answer to my question depend on the work he is doing once he is no longer a partner? If he continues to work as he did while a partner but on a reduced basis (e.g., continues to be the point person and perform and supervise work for a limited number of clients), I would think a 1099 is appropriate but do not know why that would be relevant to my question.

what about a retired post age 70 1/2 partner, who becomes of counsel to a law firm and continues to work for the firm each month, on a reduced basis, doing the same type of work he had done as a partner? I would think it is appropriate to treat him as not retired for RMD purposes. Also, as a partner, he received a K-1 each year. Does the answer to my question depend on whether he is paid on a 1099 basis or receives a W-2 each year when he is no longer a partner? Thank you.