Partnership Tax Services


Tax compliance and advisory for partnerships, LLCs, and their partners.


Partnership taxation connects the business return directly to the tax reporting of its partners. Schmid CPA helps partnerships manage federal and state filings, Schedule K-1 reporting, partner activity, and tax planning while connecting the return to the underlying accounting records.

Form 1065 & State Tax Returns

  • Preparation and filing of federal partnership returns and applicable state income, franchise, and partnership tax filings.

Schedule K-1 Reporting

  • Preparation of partner K-1s and reporting of each partner’s share of income, deductions, credits, and other tax items.

Partner Contributions & Distributions

  • Review of contributions, distributions, partner loans, and other activity affecting the partnership and its owners.

Partner Basis & Capital Accounts

  • Review of available information related to partner capital accounts and tax basis considerations.

Tax Planning & Estimated Taxes

  • Planning support around partnership income, distributions, deductions, and the potential tax impact on individual partners.

Ongoing CPA Support

  • Year-round assistance with partnership tax, accounting, ownership changes, and business questions—not only at tax filing time.

Partnership tax reporting depends heavily on the accounting and partner activity behind it.


Because Schmid CPA provides both tax and accounting services, we can look beyond Form 1065 to understand how transactions were recorded, review partner activity, identify potential issues, and help maintain cleaner financial records throughout the year.


For businesses that need additional support, our services can extend from annual tax preparation to ongoing accounting and financial reporting.

International ownership can add another layer of complexity to U.S. partnership taxation.


Schmid CPA can assist partnerships with:


★ Foreign and domestic partner reporting
★ Schedule K-1 preparation
★ Partner contributions and distributions
★ Capital account and basis considerations
★ Partnership withholding requirements
★ Forms 8804, 8805, and 8813 when applicable
★ Coordination of U.S. tax requirements involving foreign partners
★ Ongoing accounting and compliance support



Our international experience helps partnerships navigate U.S. reporting requirements when ownership crosses borders.

Some partnerships need an annual Form 1065 and K-1s. Others need ongoing accounting, tax planning, and compliance support throughout the year.


Schmid CPA can support both.


Need help with your partnership taxes?


Schedule a consultation to discuss your business, partners, ownership structure, accounting, and tax requirements.



Business tax engagements are priced based on entity type, complexity, filing requirements, and business activity. Business tax return preparation typically starts at $850.