Partnership Tax Organizer

Please provide the following principal partners ownership information: 

• Name/Title
• Tax ID number (SSN or EIN)
• Address
• Ownership percentage
• General or limited partner*
• U.S. citizen?

*General partner. A general partner is a partner who is personally liable for partnership debts.

Limited parter. A limited partner’s personal liability for partnership debts is limited to the amount of money or other property contributed
or required to contribute to the partnership. 

Please provide the following transaction information:

• Partner name
• Guaranteed payments
• Health insurance premiums paid 
• Capital contributions from partner
• Distributions to partner
• Partner loans to the partnership
• Loans repaid by partnership to partner

• Provide the income/financial statements for the year (per books),
  balance sheet, depreciation schedule per books, and cash reconciliation
  of business bank accounts with ending cash balance.
• If the partnership has employees or paid independent contractors,
  provide a copy of all Forms W-2, W-3, 940, 941, 1096, 1099-NEC,
  1099-MISC, and any other forms issued to workers.
• If any partners live in a different state or outside the U.S., provide
  details. The business may be subject to withholding requirements.

• Provide copies of the partnership agreement and any other
  supporting organizational documents.
• Provide copies of depreciation schedules for book, tax, and AMT.
• Provide copies of tax returns for last two years, including state
  returns (if applicable).

Provide the following mileage information:

• Beginning of year odometer
• End of year odometer
• Business mileage
• Commuting mileage
• Other mileage

Provide the following actual expenses information:

• Gas/oil
• Insurance
• Parking fees/tolls
• Registration/fees
• Repairs

Generally, you can use either the standard mileage rate or actual expenses to figure the deductible costs of operating your car for business purposes. However, to use the standard mileage rate, it must be used in the first year the car is available for business. In later years, you can then choose between either the standard mileage rate method or actual expenses.

Provide the following information for depreciable assets purchased that have a useful life greater than one year:

• Asset
• Date purchased 
• Cost
• Date placed in service
• New or used?

Provide the following information:

• Asset
• Date out of service
• Date sold
• Selling price/FMV
• Trade-in?

We will prepare the partnership’s tax return based on information provided. In the event the return is audited, you will be responsible for verifying the items reported. It is important that you review the return carefully before signing to make sure the information is correct. Unless otherwise stated, the services for preparation of the partnership’s return do not include auditing, review, or any other verification or assurance.

• You agree to provide us all income and deductible expense information. If additional information is received after we begin working
  on the return, you will contact us immediately to ensure the completed tax returns contain all relevant information.
• You affirm that all expenses or other deduction amounts are accurate and that you have all required supporting written records.
  In some cases, we will ask to review documentation.
• You must be able to provide written records of all items included on the return if audited by either the IRS or state tax authority.
  We can provide guidance concerning what evidence is acceptable.
• You must review the return carefully before signing to make sure the information is correct.
• Fees must be paid before the tax return is delivered to you or filed for you. If you terminate this engagement before completion, you
  agree to pay a fee for work completed. A retainer is required for preparation of late returns.
• You should keep a copy of the tax return and any related tax documents. You may be assessed a fee if you request a copy in the future.

Signatures. By signing below, you acknowledge that you have read, understand, and accept your obligations and responsibilities.

The nature of our work requires us to collect certain nonpublic information. We collect financial and personal information from applications, worksheets, reporting statements, and other forms, as well as interviews and conversations with our clients and affiliates. We may also review banking and credit card information about our clients in the performance of receipt of payment. Under our policy, all information we obtain about you will be provided by you or obtained with your permission.

Our firm has procedures and policies in place to protect your confidential information. We restrict access to your confidential information to those within our firm who need to know in order to provide you with services. We will not disclose your personal information to a third party without your permission, except where required by law. We maintain physical, electronic, and procedural safeguards in compliance with federal regulations that protect your personal information from unauthorized access.