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Tax considerations for operating agreements in partnerships and LLCs are crucial. Ownership percentages and liabilities should be clearly outlined in the agreement. Without a written contract or operating agreement, seeking tax and accounting advice is advised. An experienced CPA can help ensure compliance with the internal revenue code. Operating agreements are essential documents that define the rules and regulations of a partnership. Fusion CPA specializes in navigating tax considerations for business partners and can assist in modifying operating agreements. Having a CPA prepare your tax return ensures accuracy and compliance.
