Federal Tax Filing, Filed Right

Form 1065 is the IRS form used by partnerships and multi-member LLCs to report income, deductions, gains, and losses. The LLC itself doesn't pay income tax. Instead, profits and losses 'pass through' to members who report them on their personal tax returns. Form 1065 is informational, showing the IRS how income is allocated among members.

A Schedule K-1 is issued to each LLC member after Form 1065 is filed. It shows that member's share of the LLC's income, deductions, and credits for the tax year. Members use their K-1 to report LLC income on their personal tax returns. We prepare and distribute K-1s to all members as part of our filing service.

Form 1065 is due on March 15th for calendar-year LLCs (or the 15th day of the third month after your fiscal year ends). K-1s must be provided to members by the same date so they can file their personal returns by April 15th. We can file for an automatic 6-month extension if more time is needed.

Single-member LLCs are taxed as sole proprietorships by default. Instead of Form 1065, you report business income and expenses on Schedule C attached to your personal Form 1040. We can prepare your Schedule C and help ensure you're claiming all eligible deductions.

We'll need: your LLC's financial records (income and expenses), bank statements for the tax year, records of any asset purchases or sales, partner/member information for K-1 preparation, and any prior year returns. If you use our bookkeeping service, we already have most of what we need.

Yes. LLC members typically need to pay quarterly estimated taxes if they expect to owe $1,000 or more when filing their personal return. We calculate estimated tax payments based on projected income and send reminders before each quarterly due date (April 15, June 15, September 15, January 15).

Yes, we file extension requests as needed. An extension gives you 6 additional months to file (until September 15th for calendar-year LLCs). Note that an extension to file is not an extension to pay, so estimated taxes should still be paid by the original due date to avoid penalties.

LLCs can deduct ordinary and necessary business expenses including: office expenses, software subscriptions, professional services, travel, marketing, contractor payments, and more. We review your expenses to ensure you're claiming all legitimate deductions while staying compliant with IRS rules.

Our federal tax filing service covers federal returns (Form 1065 and K-1s). State income tax requirements vary: some states require separate LLC returns, others don't. We can advise on your state's requirements and provide state filing as an additional service where needed.

While audits are rare, we keep copies of all filed returns and supporting documents. If you receive IRS correspondence about your return, we can help you understand the notice and respond appropriately. Our accurate filing and proper documentation significantly reduce audit risk.