Why We ‘Kill’ to Get Partnership Returns Out Quickly

Businessman looking at calendar on tabletEveryone benefits.

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

Many real estate and venture capital partnerships and LLCs have investors that need their K-1 tax statements to file their individual returns.

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Depending upon the way they are managed, some never have their books up to date and ready for tax filing until late in the summer, while others are maintained monthly and are closed and ready for tax preparation the end of January or beginning of February.