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 ...

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 ...

A close friend and myself want to open an IT consulting practice providing IT support, systems administration services, security, and other services to small businesses. Initially I thought an LLP ...

Situation: Your client has invested in an LLC or LLP that sustains losses. Since the IRS considers him or her to be a limited partner, the losses are considered passive and the client is unable to ...