What does your operating agreement need to cover?
Five questions about your partnership — how many of you, the ownership split, who runs the day-to-day, whether there’s a lease, and whether you’ve discussed what happens if someone wants out. The result is a personalized list of provisions your operating agreement should cover, with the critical ones called out.
Read next
LLC Operating Agreement: What to Put in Writing When Two People Share a Business
An operating agreement governs your LLC when partners disagree, when someone wants out, or when contributions were never equal. What it covers, what California defaults to without one, and the provisions that protect the partner doing more of the work.
Insurance & riskBusiness Insurance: What Coverage Types Actually Apply to Your Business
General liability, professional liability, workers comp, commercial property, business interruption, cyber, commercial auto, key-person — what each type covers, when it actually matters, and which ones small businesses most often skip when they shouldn't.
Entity & S-corpMulti-Member LLC Taxes: How Partnerships Are Taxed, Who Files What, and the SE Tax Trap
A multi-member LLC is taxed as a partnership by default — filing Form 1065 and issuing K-1s. Active members pay SE tax on their full distributive share. When the S-corp election saves money, and how partnership basis rules differ from S-corps.