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What is an operating agreement12 mins
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Additional factors16 mins
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Formation of an agreement26 mins
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Structure for an agreement33 mins
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Special provisions50 mins
Published: March, 2022
One of the beauties of operating a business through a limited liability company is the ability to streamline and combine the company’s governing documents into one document known as a Limited Liability Company Agreement or Operating Agreement.
These agreements contain material corporate and tax considerations that must be aligned and consistent throughout the document. This puts a tax professional in a unique, “value-add” position.
An LLC operating agreement establishes guidelines for an LLC in the same way that articles of incorporation govern the operation of a corporation.
The operations agreement is a tool kit of your knowledge of your practice and what you do on any given day. Then as the practice grows it will become necessary to implement several new items for all partners. The thing to realize is that every business and its partners are different so every agreement is different too.
Maintaining an efficient practice requires documentation, documentation, and documentation. Therefore, there will be no right or wrong in piecing one together.
The unique business structure and rules of LLCs make them an invaluable instrument for your clients - don't miss out on this opportunity to learn not only how to spot potential pitfalls, but also how to plan and design the LLC to better meet their needs.
The objective of the CE/CPE tax course is to give attendees an understanding of common, and perhaps some uncommon, pressure points that typically arise in the context of drafting a Limited Liability Company Agreement or Operating Agreement.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
CEO and Leadership Change Expert, Stevens Performance
7 Ratings
1 Credit
Subject Area
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