Anatomy of an LLC Operating Agreement (Including LLP)

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

What is an operating agreement

12 mins
Additional factors

16 mins
Formation of an agreement

26 mins
Structure for an agreement

33 mins
Special provisions

50 mins

Course Description

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.

Learning Objectives

To discuss the role of the limited liability company agreement or operating agreement in corporate governance matters.
To analyze different types of distribution schemes.
To inspect and interpret provisions for allocations.
To discuss considerations regarding equity incentive plans.

Recommended For

The CPE course for CPAs is recommended for CMAs, CVAs, CIAs, Accountants, and Staff of Accounting Firms desiring to learn how to draft a Limited Liability Company Agreement or Operating Agreement.
The IRS Approved CE Course is recommended for EAs, AFSPs, Tax Preparers, and Other Tax Professionals.

Who Should Attend?

Auditors
California Registered Tax Professional
Certified Management Accountant (CMA)
Certified Public Accountant (CPA)
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Maryland Tax Preparers
Oregon Tax Preparers
Tax Attorney
Tax Firm
Tax Practitioners
Tax Professionals
Young CPA

Course Qualification

Webinar Qualifies For

1 CE Credit for Annual Filing Season Program (AFSP)
1 CE Credit for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0811)
1 CPE Credit for Certified Internal Auditors (CIA)
1 CPE Credit for Certified Management Accountants (CMA)
1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
1 CE Credit for Enrolled Agents (EA) (Approval No. GEHNZ-T-00871-22-S)
1 CPE Credit for Internal Audit Practitioner (IAP)
1 CE Credit for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00871-22-S)
1 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
1 CE Credit for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00871-22-S)
1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
1 CE Credit for Certified Wealth Strategist (CWS)
1 General Credit for Accountant/Bookkeeper (ACCT./BK)

Additional details

Course Level :

Basic
Credits :

1
Instructional Method :

QAS Self Study
Pre-requisites :

None
Advance Preparation :

None

IRS APPROVED

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.

NASBA APPROVED

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.

CTEC APPROVED

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.

Presenter

About Presenter

Drew Stevens

CEO and Leadership Change Expert, Stevens Performance

Talks about #strategy, #salesandmarketing, #revenueoptimization #financialadvisory #strategicleadership #financialplanning #successionplanning #exitplanning

If you want your business competitive proof then you need to understand the 12 crucial elements that destroy a business.

If you want your business to continually exceed goals, then stop doing the same things that create no results and no changes.

What is?

12 Strategic Principles that guide the business and eliminate the obstacles/
Modern methods that create fiscal controls and higher income.

My mission is to implement plans for struggling businesses to generate transformative, long-lasting results for every organization.

My innovative and transformative assistance is with:

Developing financial awareness that places more money into owners' hands.
Eliminating waste and processes that slow revenue, access to clients and competition.
Implementing strategies that have helped businesses develop more than $11B in new revenue.
Creating personal financial strategies that create abundance, a better lifestyle and personal liquidity.

By creating a strategic approach and realigning business, Drew will help your organization to:

Lower Customer Acquisition Cost
Increase financing while creating a fluid when planned exit
Competitive Proof the Firm
Build Industry and Brand Recognition
Increase Financial Wealth

Faq

FAQs content

To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.