Partnership tax is the most technical corner of business compliance and the one handled most loosely. Substantial economic effect, capital account maintenance, inside and outside basis, guaranteed payments, and what happens to allocations when you admit or redeem a partner. All of it has specific rules that a generic preparation process never touches.
We maintain the capital accounts properly, run the allocations against what the agreement says, track basis partner by partner, and get K-1s out early enough that your partners can file around them.
What you get
Capital accounts kept
Tracked properly year to year, so nobody has to reconstruct them when a deal comes along.
Allocations tested
Special allocations checked against both the agreement and the regulations.
Basis per partner
Inside and outside basis tracked, so loss limits and distributions come out right.
K-1s on time
Out early enough that none of your partners are extending because of you.
Partnership Tax
Let's talk about partnership tax.
Partnership and LLC compliance, covering special allocations, capital account maintenance, basis tracking, and K-1s that arrive on time and are right.