Hello, My good friend started a small time lawn care business about 3 years ago. He registered as a LLC at the beginning of 2009. During the 2009 season I helped him with some accounts when he was busy and now we are discussing splitting ownership of the business 50/50. He is the only person right now that operates under the LLC and services approximately 20 accounts, both residential and commercial. The problem I am having right now is that I am not sure how well he is keeping track of the finances and not real sure what his intentions are this tax season. If I agree to joining the LLC then I will be responsible for the organizing the finances, with the assistance of a CPA of course. He currently does not have an accountant or attorney. My main concern that I am not sure of is if I were to become a half owner at the beginning of 2010 then would I be held responsible for any actions of the LLC prior to me joining? This is a good opportunity for me to make some extra cash but definitely not worth it to me if there was any unknown wrongdoing that I can be held responsible for. If anybody could help answer this question or direct me to some resources I would be greatly appreciative. Thanks!