Partnership Services
We provide comprehensive accounting, tax, and advisory services tailored to partnerships, including general partnerships, limited partnerships (LPs), and limited liability companies (LLCs) taxed as partnerships. Our approach focuses on maintaining compliance, optimizing tax outcomes, and supporting clear financial visibility for partners.
Partnership Tax Preparation & Compliance
We handle all aspects of partnership tax compliance, including preparation and filing of federal and state returns (Form 1065), Schedule K-1 reporting, and multi-state filings. We ensure accurate allocation of income, deductions, and credits among partners in accordance with partnership agreements and tax regulations.
Strategic Tax Planning
Partnership taxation involves complex allocation and distribution rules. We provide proactive tax planning to optimize partner tax positions, including structuring profit-sharing arrangements, managing guaranteed payments, and planning for basis, at-risk, and passive activity limitations.
Bookkeeping & Financial Reporting
We maintain accurate financial records through monthly bookkeeping, reconciliations, and preparation of financial statements. Our reporting provides partners with clear insight into business performance, capital accounts, and overall financial health.
Capital Account & Basis Tracking
We track and maintain partner capital accounts and tax basis to ensure proper reporting and compliance. This is critical for determining distributions, tax liabilities, and gain or loss on ownership changes.
Cash Flow Management & Distributions Planning
We assist with budgeting, forecasting, and cash flow analysis to help partnerships manage operations and plan distributions. Our guidance ensures distributions are structured appropriately while maintaining sufficient liquidity.
Payroll & Guaranteed Payments Support
We advise on partner compensation structures, including guaranteed payments and payroll considerations for partners and employees, ensuring compliance and tax efficiency.
Entity Structuring & Partnership Agreements
We assist with entity formation and provide guidance on partnership agreements, ownership structures, and changes in partnership interests. Our goal is to align the legal and financial structure with the partners’ business objectives.
Advisory & Fractional CFO Services
We offer strategic advisory services, including financial modeling, KPI tracking, and operational consulting. Acting as a financial partner, we help partnerships make informed decisions regarding growth, investments, and long-term planning.
Audit Support & Internal Controls
We assist with audit preparation and provide support during financial statement audits. Additionally, we evaluate and strengthen internal controls to improve accuracy, transparency, and operational efficiency.