Discover the differences between limited, general, and joint venture partnerships and learn how each impacts liability, taxes, and management control in business.

Before a small business opens its doors, many business owners face an important decision: Will they structure their business as a limited liability corporation (LLC) or a limited liability partnership ...

Getting the choice of entity right at the start is crucial, since switching later can have tax and other consequences. Getting the choice of entity right at the start is crucial, since switching later ...

Limited liability companies, like partnerships both general and limited, are fundamentally creatures of contract law. The members agree with each other as to the business to be conducted by the LLC, ...

IT HAS BEEN MORE THAN A DECADE since the AICPA amended Rule 505, Form of Organization and Name, of its Code of Professional Conduct’s Rules of Practice to permit the practice of accountancy in LLCs ...

One is less expensive, while the other provides more legal protections. Here’s how to decide. Fact checked by Vikki Velasquez Reviewed by JeFreda R. Brown One of the first decisions that anyone going ...