business partnerships don't have to be monstrous
Doing Business Together
Scott is well-versed in helping individuals to establish a partnership, and it is important that when entering in to this type of business relationship, you have an accounting professional involved.
Tax preparation for partnerships can be time consuming and complicated. Scott P. Wilber, CPA can help.
While partnerships do not generally pay income tax to the IRS, partnerships must still file an annual information tax return. Partners in the company use that same information to determine individual share of taxable income.
If you are a member of a partnership that carries on a trade or business, your distributive share of partnership income is taxable to you on your tax return. We can help with the preparation of your partnership's tax return, including Schedule K-1 reporting your share of the distributable income, expenses and credits.