Fern and Grover wish to combine their professional accountancy practices into a single firm that combines the pass-through tax status and other advantages of a partnership with limits to the personal liability of the partners. The appropriate business organization for this enterprise is most likely

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A limited liability partnership (LLP) allows the partners to enjoy the pass-through tax status of a partnership while also having their personal liability limited. Each partner's liability is limited to the amount of their investment in the partnership, and they are not personally liable for the debts of the partnership. This is an appropriate business organization for Fern and Grover's professional accountancy practices, as it combines the advantages of a partnership with the limits to personal liability. Family limited liability partnerships and limited liability limited partnerships are not appropriate as they have specific requirements and are typically used for different purposes. While a limited liability company (LLC) also offers the advantages of limited liability for its owners, it may not be the best choice for Fern and Grover as it has more complex taxation rules compared to an LLP.

Fern and Grover Wish to Combine Their Professional Accountancy Practices