A managing partner filed an involuntary chapter 7 petition against a professional limited liability partnership. The bankruptcy court denied the petition and dismissed the case based on its ...

A limited liability partnership provides the owners of a small business partnership benefits that a general partnership does not. To understand the structure of a limited liability partnership, it's ...

A limited liability partnership (LLP) limits the scope of exposure that general partners must face due to partnership debts, liabilities and malpractice. Texas enacted the first ever LLP law in 1991.

Two important principles governing corporate entities are: (1) the entity is legally distinct from its owners; and (2) the entity’s property and assets belong to the entity, not its owners. These ...

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 ...

Lindsey Crossmier has been a financial writer since 2022, and has been regularly quoted as an expert in outlets such as U.S. News, GOBanking Rates and Yahoo! Finance. She leverages her Yale financial ...

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Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. The formation of LLCs has become increasingly common in various corporate structures. They ...

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 ...

Dan Moskowitz is a financial writer who has 4+ years of experience creating content for the online reading market. Erika Rasure is globally-recognized as a leading consumer economics subject matter ...

BDO USA is becoming a professional service corporation instead of a partnership in July, a move that could have a major impact on the finances of its partners and employees. "BDO USA is converting to ...

A business organization that allows limited partners to enjoy limited personal liability while general partners have unlimited personal liability A limited partnership is similar to a general ...