Starting a business venture with friends or colleagues can be exciting, but it’s important to have each partner’s terms outlined to avoid any confusion from the beginning. A partnership agreement serves this purpose but can be full of legal jargon and difficult to navigate. Anders tax supervisor Max G. Goewert, CPA, explains the sections of a partnership agreement entrepreneurs should pay special attention to in a recent article for the St. Louis Business Journal’s St. Louis Inno platform.
In the article, Max dissects the purpose of a partnership agreement and how entrepreneurs should navigate the document to fully understand their agreement. “In its most simple form, a partnership agreement is a legal document that dictates how a business formed as a partnership will operate,” he explains. He walks through how capital accounts are laid out to understand how partners put money into the partnership and how it can be taken out, and the economics of transactions.
Read the full article for more of Max’s insights on partnership agreements: Starting a business partnership on the right financial foot: understanding the basics of your partnership agreement.
Anders is a proud founding partner of St. Louis Inno, a digital media platform that will serve as the region’s portal for news, profiles and insight into the region’s burgeoning innovation ecosystem. Learn more about St. Louis Inno.
Learn how Anders works with startups and entrepreneurs.
View all Blog Posts
Our firm provides this information for general educational guidance only and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Podcasts posted by Anders CPAs + Advisors are not intended to be used and cannot be used by any individual or business, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose. Please note that some content may be generated using artificial intelligence and is intended for educational and informational purposes only. In no way does listening, reading, emailing or interacting on social media with our content establish a professional relationship.
