Business Partnership Tax Preparation
Tax Services in San Antonio, TX
Mateo E. Jungman, EA, CPA’s Business Partnership Tax Preparation
The process of filing your business taxes varies depending on what kind of business you own. If you are a self-employed person, or the small business you own has no employees, then it’s possible to file taxes along with your personal income taxes. Mateo E. Jungman, EA, CPA offers personal income tax services, as well as tax services for businesses and corporations. The tax process for a larger business is more complex, especially if the business has multiple partners or shareholders. For more information on partnership tax preparation, or to set up an appointment, call me now at (210) 842-8197.
Let Mateo E. Jungman, EA, CPA Take Care of Your Business Partnership Tax Return
Going into business with a partner should make the process of running a successful business easier and more profitable. There’s no reason for a partnership to complicate your tax season, or take away from the pleasure and satisfaction of running your business. Let me help you maximize the profits of your business partnership!
The Most Important Step of Any Partnership Income Tax Return
The most important step for easily filing an accurate business tax return is to keep diligent records. This process should begin at the formation of the partnership, and much of the information that you will need for your partnership income tax return will be in your partnership agreement or articles of organization. The articles of organization are the legal documents that were filed when the business began. Included in these documents should be a partnership agreement, with necessary details like how much money each partner initially put into the company. From the very beginning of every business, through organization, and all the way to selling your business, it is vital to keep accurate balance sheets about income and expenses and how they affect each partner.
Prepare for Your Partnership Tax Return with a Professional
In addition to your articles of incorporation and balance sheet, make sure you also have the following information:
- The company’s Federal Tax ID number
- Date of organization
- Business income (if any)
- Business losses (if any)
- The number of shareholders
- The size of each shareholder’s ownership stake
Most of this information should be in the articles of organization or other organizing documents and your balance sheet. If you have not kept records to the full extent of your ability for whatever reason, it’s possible that most of this information can be collected from your electronic bank statements and credit card statements. If you know this is the case for your business, contact your bank and ask if they can provide you with these kinds of statement. The more detailed your statement is, the better. If you have all of this information ready, I can ensure that your partnership tax return can be filed quickly and accurately.
Contact Me Now for Easy Business Partnership Tax Preparation
To file your partnership income tax return, or to get more details about what you need to head along the right track, contact me now. I am waiting to take your call.