Partnership Tax Services
1. Partnership Tax Preparation
Accurate and timely tax preparation is critical for all types of partnerships. LYNTAX Group handles all aspects of partnership tax returns to ensure compliance with both federal and state tax laws. From filing necessary forms to distributing income allocations among partners, we guide you through every step of the process.
- Form 1065: U.S. Return of Partnership Income
- Schedule K-1: Partner’s Share of Income, Deductions, Credits, etc.
- State and Local Tax Filings
- Compliance with Partnership Agreement Provisions
- Tax Reporting for Partners’ Allocations
2. Partnership Tax Planning
Effective tax planning is key to reducing your partnership’s tax burden and maximizing after-tax income for all partners. LYNTAX Group works with you to develop proactive tax strategies that align with your partnership’s financial goals and operational structure. We ensure that each partner’s unique tax situation is addressed while optimizing the partnership’s overall tax strategy.
- Minimizing Self-Employment Taxes for Partners
- Optimizing Distributions and Allocations
- Identifying Opportunities for Deductions and Credits
- Tax Strategies for Expanding Partnerships
- Partnership Exit or Succession Planning
- Structuring Partner Compensation & Retirement Plans
3. Partner Compensation Planning
Determining how partners are compensated—whether through salary, guaranteed payments, or profit-sharing—can have significant tax implications. LYNTAX Group helps you structure compensation plans that minimize tax exposure while ensuring fairness and alignment with the partnership agreement.
- Tax-Efficient Partner Compensation Structures
- Guaranteed Payments vs. Profit Distributions
- Impact of Compensation on Self-Employment Tax
- Retirement Plans and Health Benefits for Partners
4. Partnership Compliance & Reporting
Ongoing compliance is critical for maintaining a partnership’s good standing with the IRS and state tax authorities. LYNTAX Group ensures that all necessary filings are made on time, including quarterly estimated tax payments, reporting partner distributions, and adhering to the terms of your partnership agreement.
- Partnership and Partner Tax Compliance
- Quarterly Estimated Tax Payments for Partners
- Maintaining Partnership Agreements and Amendments
- Tax Filing Deadlines and Extension Support
- Audit Assistance and Representation
Why Choose LYNTAX Group for Partnership Tax Services?
Expert Knowledge of Partnership Taxation
Partnerships have unique tax structures, and the team at LYNTAX Group is highly experienced in navigating the complexities of partnership taxation. Whether you are managing a small partnership or a large multi-partner firm, we understand the intricacies of pass-through taxation and are committed to ensuring the most tax-efficient solutions.
Comprehensive Tax Services
From tax preparation and compliance to strategic planning and partner compensation, LYNTAX Group provides a full range of services for partnerships. We focus on optimizing both the partnership’s and individual partners’ tax outcomes.
Customized Solutions
We recognize that no two partnerships are the same. That’s why we take the time to understand your specific needs, goals, and structure, delivering customized tax strategies that align with your partnership’s vision and future growth.
Proactive Tax Planning
Our tax planning services are designed to help your partnership minimize taxes in real time—not just at the end of the year. We implement forward-thinking strategies that help avoid surprises and take advantage of available tax-saving opportunities.
Let Us Help You Optimize Your Partnership’s Tax Strategy
Managing a partnership’s taxes requires attention to detail and proactive planning. LYNTAX Group is here to guide you through every aspect of partnership taxation, from preparing tax returns to developing strategies that will help your business thrive.
Contact Us Today for a Consultation
Phone: (617) 468-8177
Email: info@lyntaxgroup.com