Business Tax Services for Multi‑Member LLCs Filing Form 1065 in Montgomery County, MD
Aventa Tax provides expert business tax filing services for partnership‑taxed LLCs file by helping them file accurate Form 1065 and Schedule K‑1s.
Our team of business tax professionals helps ensure your partnership tax returns are properly prepared and filed on time, so that your business is compliant and avoids costly penalties.
File Form 1065, K-1s, and State Forms
Work with local tax accountants
Streamline business tax season
Schedule a Free Tax Review
With over 10 years of financial services experience, Jon specializes in helping business owners navigate complex tax matters and optimize their tax strategy.
Tax Advisors for Maryland Multi-Member LLCs
Multi-member LLC tax returns are complex. Our team of advisors is committed to helping you understand your tax situation and provide strategic advice. Whether it's help filing business tax forms or developing a tailored business tax plan, we're here to help.
Why Aventa Tax?
Local, partnership‑focused expertise
Aventa Tax is based in Montgomery County, Maryland and specializes in business tax services for multi-member LLCs and partnerships.
Maryland Enrolled Agent guidance
Your partnership return is handled by a federally authorized Enrolled Agent who is qualified to interpret IRS rules and represent your business before the IRS.
Year‑round support, not just at deadlines
Aventa Tax can provide ongoing advisory support so you can ask questions throughout the year and adjust your strategy before year‑end closes.
Bookkeeping and clean‑up available
If your books are behind, Aventa Tax offers small business accounting and clean‑up services so you have tax‑ready financials before preparing Form 1065.
Form 1065 & Multi‑Member LLC Tax Services
Aventa Tax offers a complete set of partnership tax services for multi‑member LLCs filing Form 1065.
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Form 1065 preparation and filing for partnership‑taxed LLCs.
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Schedule K‑1 preparation for each partner, including allocations of income, loss, deductions, and credits.
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Review of operating agreements to align profit and loss allocations with tax reporting.
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Guidance on partner guaranteed payments and how they affect self‑employment tax.
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Multi‑state and Maryland business tax considerations for partnerships with activities in multiple jurisdictions.
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Quarterly estimated tax planning so partners are not surprised by underpayment penalties at tax time.
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IRS and Maryland notice response and representation for partnership‑related tax issues.
Each engagement begins with a review of your prior‑year partnership return, your books, and your operating agreement to identify errors, missed deductions, and planning opportunities. From there, Aventa Tax implements a repeatable process so each tax year is easier than the last.
Frequently asked tax questions
1. Does my multi‑member LLC have to file Form 1065 every year?
Most domestic partnerships and multi‑member LLCs taxed as partnerships must file Form 1065 annually if they have any income or deductible expenses for the year. If the LLC had no income and no deductible expenses, there are limited situations where a return may not be required, but this should be confirmed with a tax professional.
2. What is Form 1065 actually used for?
Form 1065 is an information return that reports the partnership’s income, deductions, gains, losses, and credits to the IRS. The partnership itself usually does not pay income tax; instead, the net results are passed through to the partners on Schedule K‑1 for reporting on their individual returns.
3. When is Form 1065 due for my partnership?
Form 1065 is generally due by the 15th day of the 3rd month after the end of the partnership’s tax year. For calendar‑year partnerships (January–December), that due date is usually March 15.
4. What happens if my partnership files Form 1065 late?
The IRS may assess a monthly penalty for each partner for every month (or part of a month) that a required Form 1065 is filed late. Late or incomplete Schedule K‑1s can also cause problems for partners trying to file their personal returns on time.
6. How do guaranteed payments to partners get taxed?
Guaranteed payments are typically deductible to the partnership and taxable to the recipient partner as ordinary income. In many cases, they are also subject to self‑employment tax, which can significantly affect a partner’s total tax liability.
8. How should we track partner capital accounts and contributions?
Partnerships are expected to maintain accurate records of each partner’s capital account, including contributions, distributions, and allocations of profits and losses. These figures appear on Form 1065 and related schedules and are critical for correctly reporting basis and gain or loss when ownership changes or the partnership liquidates.
9. What records do we need ready before preparing Form 1065?
At minimum, partnerships should have reconciled financial statements, details of partner ownership percentages, records of contributions and distributions, and information on loans to and from partners. Payroll reports, 1099s, and prior‑year tax returns are also important for accurate and consistent reporting.
10. Can Aventa Tax help if my partnership gets an IRS notice?
Yes, Aventa Tax offers tax representation services and can respond to IRS or Maryland notices related to your partnership return on your behalf. Working with an Enrolled Agent means your business has authorized representation at every stage of the IRS process.
Aventa Tax LLC is based in Montgomery County, Maryland and provides business tax services for partnerships and Multi-member LLCs in Montgomery County MD