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Operating Agreements: 7 Reasons Why Your Single Member LLC Needs One

Operating Agreements: 7 Reasons Why Your Single Member LLC Needs One

Operating Agreements help an owner of a single-member limited liability company (SMLLC), in many ways. Two reasons for creating an SMLLC are tax breaks and limited liability.  In the same way a business owner must prove income tax deductions by keeping accurate records, holding onto receipts, and following rules and procedures. Having an operating agreement, helps demonstrate to the court the owner of an SMLLC plays by the rules. And therefore, shielded from liability. Not only does an operating agreement…

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