Partnership Tax Intake Form

Partnership General Information

Legal name of partnership *

EIN *

Partnership address *

Partnership Representative *

Partnership Title *

Email *

Phone *

Check one partnership *

General Partnership

Limited Partnership

Limited Liability Partnership (LLP)

Principal business activity *

Principal product or service *

Date business started *

Date business closed

Was the primary purpose of the partnership activity to realize a profit? *

Yes

Has the partnership reported any losses in prior years? *

Yes

Accounting method: *

Cash

Accrual

Others (Specify below)

Other Accounting Method

Does the partnership file under a calendar year? (If no, what is the fiscal year? Fill below) *

Yes

If no, what is the fiscal year?

Partnership Specific Questions

Is there a written partnership agreement? (If this is the first year of the partnership’s existence, please provide a copy of the written partnership agreement.) *

Yes

Are all partners actively participating in the business? *

Yes

Is any partner in the partnership a disregarded entity, a partnership, a trust, an S corporation, or an estate? *

Yes

Is the partnership a partner in another partnership *

Yes

Did any foreign or domestic corporation, partnership, trust, tax-exempt organization, individual, or estate own directly or indirectly 50% or more of the profit, loss, or capital of the partnership? *

Yes

Did the partnership own directly 20% or more, or own directly or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of any foreign or domestic corporation? *

Yes

Did the partnership have any debt that was cancelled, was forgiven, or had the terms modified so as to reduce principal amount of debt? *

Yes

At any time during the year, did the partnership have an interest in, or signature authority over a financial account in a foreign country? *

Yes

Was there a distribution of property or a transfer (by sale or death) of a partnership interest during the tax year? *

Yes

Does the partnership satisfy the following conditions? The partnership’s total receipts for the tax year were less than $250,000, and The partnership’s total assets at the end of the tax year were less than $1 million. *

Yes

Did the partnership pay $600 or more of nonemployee compensation to any individual? If yes, include a copy of Form 1099-NEC for each. *

Yes

If yes, include a copy of Form 1099-NEC for each.

Principal Partners Ownership Information

Principal Partner 1

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

Principal Partner 2

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

Principal Partner 3

Name
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 partner. 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.

Partners Other Transactions

Partners Other Transactions 1

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

Partners Other Transactions 2

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

Partners Other Transactions 3

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

All Clients – Additional information and documents required

• 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

New Clients – Additional information and documents required

Date partnership formed

State partnership formed in

• 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)

Partnership Balance Sheet

Partnership assets at year end

Bank account end of year balance
Accounts receivable at end of year
Inventories
Loans to partners
Mortgages and loans held by partnership
Stocks, bonds, and securities
Other current assets (include list)

Partnership debts and equity at year end

Accounts payable at year end
Payables less than one year
Payables more than one year
Nonrecouse loans
Loans from partners
Loans from partners

Partnership Income (include all Forms 1099-K and Forms 1099-NEC received)

Partnership Income

Gross receipts or sales
Returns and allowances
Interest income (include all 1099-INT Forms)
Dividend income (include all 1099-DIV Forms)
Capital gain/loss (include all 1099-B Forms)
Other income (loss) (include a statement)

Partnership Cost of Goods Sold (for manufacturers, wholesalers, and businesses that make, buy, or sell goods)

Partnership Cost of Goods Sold (for manufacturers, wholesalers, and businesses that make, buy, or sell goods)

Inventory at beginning of the year
Purchases
Cost of labor
Materials and supplies
Inventory at the end of the year

Partnership Expenses

Partnership Expenses

Advertising
Bad debts
Bank charges
Business licenses
Commissions and fees
Contract labor
Employee benefit programs
Employee health care plans
Entertainment
Gifts
Guaranteed payments to partners
Insurance (other than health insurance)
Interest – mortgage
Interest – other
Internet service
Legal and professional services
Meals for business in restaurants (100% deduct.)
Meals – other business meals (50% deduct.)
Office supplies
Organization costs
Pension and profit sharing plans
Rent or lease – car, machinery, equipment
Rent or lease – other business property
Repairs and maintenance
Taxes – payroll
Taxes – property
Taxes – sales
Taxes – state
Telephone
Utilities
Wages
Other expense

Car Expenses (use a separate form for each vehicle)

Car Expenses

Make/Model
Date car placed in service

Car available for personal use during off-duty hours?

Yes

Do you (or your spouse) have any other cars for personal use?

Yes

Do you have evidence?

Yes

Is your evidence written?

Yes

Did you trade in your car this year?

Yes

Cost of trade-in

Trade-in value

Mileage

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

Actual Expenses

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

Generally, you can use either the standard mileage rate or actual expenses to calculate 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.

Equipment Purchases – Enter the following information for depreciable assets purchased that have a useful life greater than one year

Equipment Purchases 1

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

Equipment Purchases 2

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

Equipment Purchases 3

Asset
Date Purchased
Cost
Date placed in service
New or used?

Equipment Sold or Disposed of During Year

Equipment Sold or Disposed of During Year 1

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

Equipment Sold or Disposed of During Year 2

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

Equipment Sold or Disposed of During Year 3

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

Partnership Business Credits (if answered Yes for any of the below, please provide a statement with details)

Did the business pay expenses to make it accessible by individuals with disabilities?

Yes

Did the business pay any FICA on employee wages for tips above minimum wage?

Yes

Did the business own any residential rental buildings providing qualified low-income housing?

Yes

Did the business incur any research and experimental expenditures during the tax year?

Yes

Did the business have employer pension plan start-up costs?

Yes

Did the business pay health insurance premiums for employees?

Yes

Tax Return Preparation

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.

Taxpayer Responsibilities

• 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.

Privacy Policy

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.

Signature of Taxpayer *

Clear

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