TAX BLOG

Thinking twice about having a Partnership

Its tax return extension filing season as a great many business owners across the U.S. know all too well. But did you know that if you run your business as a partnership – or if you run part of your business as a partnership that you may or may not be exempt from filing an actual tax return for the business, otherwise known as a 1065 Partnership Tax Return. Many companies in the U.S. are set up as Partnerships. Whether that be to run a business, or to just hold the real estate of a company, or just because it is easy and you do not have the formality or cost of a corporation. And all too often, many owners of these partnerships may disregard filing an actual tax return for the company and

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