Partnership Incom Tax

Partnership income tax applies to businesses structured as partnerships,
where the entity itself does not pay income tax. Instead, the profits and
losses are “passed through” to the individual partners, who report them on
their tax returns using Schedule K-1.

Our comprehensive services include:
● Partnership tax return preparation (Form 1065)
● K-1 form preparation and distribution
● Multi-state partnership tax compliance
● Tax planning and strategy to minimize liabilities
● IRS audit support and dispute resolution
● Assistance with complex issues like foreign partnerships or
self-employment taxes

We employ advanced tax planning strategies, such as:
● Maximizing deductions for business expenses
● Optimizing the allocation of profits and losses among partners
● Leveraging tax credits and incentives
● Structuring your partnership to achieve the most tax-efficient
outcomes

Common mistakes include:
● Incorrectly allocating income and expenses among partners
● Failing to file Form 1065 or issue K-1s on time
● Overlooking state tax obligations
● Misclassifying workers or partners
● Our team ensures these mistakes are avoided through meticulous
preparation and review.

Yes, we specialize in multi-state and international partnership taxation. We
help you navigate the complexities of varying state tax laws, foreign
reporting requirements, and treaties to ensure full compliance.

Contact us immediately. Our team has extensive experience representing
clients during IRS audits. We’ll handle all communications with the IRS,
gather the necessary documentation, and work to resolve the issue
efficiently and favorably.

Getting started is easy. Contact us for a consultation. We’ll review your
current tax situation, identify areas for improvement, and create a
customized plan to meet your needs.