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Partnership & LLC Tax Organizer

Partnerships and LLCs require specialized tax knowledge and accounting skills. Limited Liability Companies are a common business formation choice for new business owners who are often unfamiliar with how tax laws apply to their business. Our personnel are knowledgeable about the intricacies of tax laws relating to LLCs.

Use this tax organizer if your business operates as a partnership or LLC, with two or more partners or members, and has not filed Form 8832 Entity Classification Election to be taxed as a corporation.

If your LLC is owned by a single individual and has not successfully filed Form 8832 Entity Classification Election with the IRS to be taxed as a corporation, you should complete our Self-Employment Tax Organizer.

If IRS has accepted an entity classification for your Partnership or LLC to be taxed as a Corporation, you should complete our C-Corporation Organizer. If your partnership has received IRS verification of S-Corporation election after filing Form 2553 you should complete our S-Corporation Organizer.

Form 1065 is a detailed tax return, used to report income and expenses of a business which operates as a partnership or is an LLC that has two or more members. To improve tax return accuracy and maximize your tax savings, we have designed our Partnership/LLC Organizer to assist you with organizing your information, and preparing for your tax interview. As a small business owner, your Partnership/LLC might be eligible for various deductions and tax credits. Be sure to notify your tax preparer if any of the following applied to your business during the year:

  • You started or purchased a business
  • You purchased real estate for use in your business or made improvements to buildings or other property used in your business
  • Purchased a hybrid vehicle or other energy-efficiency device
  • Made disabled access improvements to your property
  • You purchased or sold assets such as computers, photocopiers, production equipment, automobiles

 

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