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Partnership Tax Returns

A partnership consists of several invested individuals who have signed a partnership agreement in operating a business. There are four main types of partnerships: Limited liability partnership (LLP); Limited partnership (LP); General partnership (GP); and a Limited Liability Company (LLC). The type of partnership influences the way taxes are filed and paid. If you are in a partnership and wondering how to file your taxes, Paramount Tax can help.

How Are Partnerships Taxed?

Partnerships are not taxed themselves, but are considered pass-through entities, like sole proprietorships. Each individual of the partnership will be taxed on his or her income, earned through the partnership. And, although the partnership does not pay taxes itself, forms must be filed annually that detail income, deductions and costs of goods.

Keeping track of which forms need to be filed and ensuring that income is reported accurately for both the partnership and yourself can be a headache. Many small businesses are formed under partnerships and there is often so much going on that bookkeeping can fall to the backburner. Unfortunately, the cost of inaccurately reported taxes can be detrimental. Don't let tax season stress you anymore than it needs to. With Paramount Tax's expert partnership tax return services, you can rest assured that your taxes are filed correctly.

Tax Services Near Me

Don't wait until the last minute to file partnership taxes. Our talented team of accounting experts is available to help you accurately file. We will keep your records in order and ensure each partner is receiving the biggest return possible. Contact us today to learn more about partnership tax returns.

Partnership Tax Return Services

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— Janna Simonsen, Posted October 15th 2024 on google
The team at Paramount is amazing, this was my first year filing with them. Darren was awesome and super attentive, and at one point we had 3 people in the room looking over some deductions to make sure they were accurate. In a one hour meeting they tripled what I thought my return would be. They are worth every penny, ...
— Caitlin Probst, Posted October 12th 2024 on google
Great experience. Met with Doug Bean. He was knowledgeable, friendly, and took the time to answer all our questions.
— Tyler Hodgson, Posted October 10th 2024 on google
Southwick and team are fantastic and super easy to work with. Their fees are more than fair and their prompt attention to requests and questions is impressive. Highly recommend.
— David Webb, Posted October 10th 2024 on google
Great people! They were very helpful and made the process easy, even with us forgetting multiple documents we needed. It was nice to be able to get tips on how we can set ourselves up better for next year as well. Highly reccomend!
— Sara McWherter, Posted October 4th 2024 on google
Efficient, fast, helpful. Little on the pricey side on some things but it's worth it.
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The team knows their stuff, and took into account a lot of my needs and concerns. I felt heard and am not worried about taxes moving forward.
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They really know what they’re doing, saved me over eleven thousand dollars that I would have missed. I highly recommend them.
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Paramount Experience

Many people do not know how a professional tax and accounting firm differs from a bookkeeper or tax preparer. The main difference when working with a professional tax and accounting firm, such as Paramount Tax, is that our firm utilizes the services of licensed tax professionals who are distinguished from other finance professionals by stringent qualification and licensing requirements. Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 Partnership Taxes firm in America. So when you ask yourself, "Where can I find Partnership Taxes services near me?"... think no further than Paramount Tax!

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