Скачать или смотреть EPISODE 009: Reviewing Partnership Agreements | Professional Fusion LLC Webinar Series

In this episode of the Professional Fusion webcast series, Owen McCafferty dives into the intricacies of partnership agreements and why they are critical to the success of any professional practice. Owen outlines the legal and financial responsibilities of partners and emphasizes the importance of regularly reviewing and stress-testing these agreements to ensure they reflect current circumstances and valuation methods.

What you will learn:

The definition of joint and several liability in a partnership.
Taxation under Subchapter K and how partnership agreements influence income, credits, and expenses.
Why partnership agreements must be in writing and reviewed periodically (every three to five years).
The significance of stress-testing your partnership agreement to check for outdated clauses and valuation methods.
The role of life insurance in partnership valuations and whether it should be included as an asset.
How to engage legal and accounting professionals to ensure your agreement is up-to-date and in line with your current practice needs.
This episode provides essential advice for professionals involved in partnerships, highlighting why partnership agreements should never be taken lightly and require consistent review to avoid future disputes or misunderstandings.
About Professional Fusion LLC:
Professional Fusion LLC is a premier accounting firm dedicated to helping businesses thrive through expert financial advice and strategic partnership management. Our webinar series aims to provide professionals with the tools and knowledge they need to succeed in their respective fields.

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