In most instances, a new partnership should use a January 31 year-end in order to maximize deferral of partnership income for calendar year partners.

Name: In most instances, a new partnership should use a January 31 year-end in order to maximize deferral of partnership income for calendar year partners.
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Most partnerships choose a December 31 year-end to align with the calendar year, simplifying tax reporting for partners who are individuals and report their income on a calendar year basis.

In Most Instances, a New Partnership Should Use a January