Partnerships

A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the business.

As an entity separate from its partners, a partnership must file an annual information return to report the income, deductions, gains, losses, etc., from its operations, but it does not pay income tax. Instead, it "passes through" any profits or losses to its partners. Each partner includes his or her share of the partnership's income or loss on his or her tax return.

Partners are not employees and should not be issued a Form W-2. The partnership must furnish copies of Schedule K-1 (Form 1065) to the partners by the date Form 1065 is required to be filed, including extensions.

We provide end-to-end services to organize and register your partnership, prepare and organize the books of the partnership, process and file your payroll, and do the reporting and filing of required forms and reports. Invest some initial time planning your partnership to ensure every aspect of it is transparent to you, your partners and the regulatory bodies.

 


- Important Dates -

October 2018
S M T W T F S
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
No events

 

Energized by Savant Coding engine!


Register with The Tax Group


Customers

  • 1-picture1.png
  • abel.jpg
  • bmi.png
  • drlogo.png
  • dupre.jpg
  • ferdinand.jpg