Partnership Tax Preparation Services

Partnership Tax Preparation Services 2017-01-26T19:50:24+00:00

Partnership Tax Preparation Services

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Every partnership is required to file an annual information return, reporting the income, gains, losses, deductions and others from its operations. Individuals in the partnership also use the annual information tax return to find out the individual share for the taxable income.

Although this information can quite easily be gathered, the required tax forms are constantly changing. At Abbo Tax CPA, our tax professionals stay up-to-date with tax laws and know precisely what is needed to file your taxes.

Some of the forms that individuals of a partnership may be required to file include the following:

The partnership:

  • Annual return of income –IRS Form 1065 – U.S. Return of Partnership Income
  • Employment Taxes – IRS Form 941 – Employer’s Quarterly Federal Tax Return
  • IRS Form 940 – Employer’s Federal Unemployment Tax Return

Individual Partners of a Partnership:

  • Income Tax – IRS Form 1040 – U.S. Individual Tax Income Return
  • Schedule E – Form 1040 – Supplemental Income and Loss
  • Self-Employment Tax – IRS Form 1040 – U.S. Individual Tax Income Return
  • Schedule SE – Form 1040 – Self-Employment Tax
  • Estimated Tax – IRS Form 1040-ES – Estimated Tax for Individuals

The Process Behind a Partnership

With up to 10 different forms needed to be processed, tax preparation for partnerships can be complicated, time consuming and confusing, often leaving little room for error. At Abbo Tax CPA, our professionals are familiar with all the necessary steps and procedures needed for your IRS forms to be filed. We can assist you with your tax preparations and ensure the required forms are filed correctly and properly.

Ensure that your IRS documents are always accurate. Call (619) 269-8190 and learn how Abbo Tax CPA can help you.

 

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