Skip to content
Rivet
Log inBook a call

Carried interest, waterfalls, and foreign partners. Rivet allocates from your agreement, and K-⁠1s go out before your partners chase them.

5 stars

#1 Most-Rated Firmon Sam's List, YC Deals

Trusted by 1,100+ teams

  • Cursor
  • Cognition
  • Ramp
  • PI
  • modal
  • Chai discovery
  • Rox
  • Braintrust
  • Pika
  • AfterQuery
  • Every
  • Instinct

From the 1065 to every partner's K-⁠1.

Built for funds, operating partnerships, and real estate, not just two-⁠member LLCs.

  • Form 1065 & state returns

    Federal and state returns, nonresident withholding and composites, and PTET elections where they pay off.

  • K-⁠1s, K-⁠2s & K-⁠3s

    K-⁠1s with tax basis capital, and K-⁠2s and K-⁠3s when they're required, not by default.

  • Capital accounts

    Book and tax capital tracked for every partner, so the two reconcile year after year.

  • Waterfall allocations

    Your agreement's pref, catch-⁠up, and carry, allocated the way the waterfall actually pays out.

  • Funds & carried interest

    Fund, GP, and management company returns, with carry held three years or less reported as short-⁠term.

  • Partner changes

    Basis adjusted for the new owner when a partner sells an interest or passes away.

Four steps, then it's off your plate.

  1. Send your agreement

    Your LPA or operating agreement, side letters, year-⁠end trial balance, and last year's K-⁠1s.

  2. We tie book to tax

    Book-⁠to-⁠tax differences reconciled, so each partner's tax capital ties to their capital statement.

  3. Estimates, then K-⁠1s

    K-⁠1 estimates for partners who need them early, then finals in time for their own returns.

  4. We file everywhere

    The federal 1065 and every state return, e-⁠filed, with next year's state estimates set.
  1. LM

    Leo McGarry8:47 AM

    LPs keep asking about final K-⁠1s. Still on track for September 15?

  2. Jazlyne HarristonRivet9:05 AM

    Yes. Finals and K-⁠3s go to all 42 LPs on September 8, tied to their Q4 capital statements. The New York group return for nonresident partners files the same day.

  3. LM

    Leo McGarry9:08 AM

    That's a relief. The LPs will be glad to hear it. Thank you.

Signs your partnership needs more than software.

  • Your waterfall is European style
  • Your fund uses a credit line
  • Your K-1s get amended every year
  • You did a cost seg study
  • Your LPA has a GP clawback
  • A trust is one of your partners
  • You've never elected out of BBA
  • You paid a late 1065 penalty
  • Your fund admin can't do tax
  • Your fund holds crypto
  • A portfolio company was acquired
  • Your fund is winding down
  • Your fund held its first close
  • Your LLC operates in many states
  • You pay NYC UBT
  • You withhold for nonresidents
  • You file composite returns
  • A partner has negative capital
  • You pay guaranteed payments
  • You granted profits interests
  • Your LLC added a second member
  • Partners are splitting up
  • You're planning a 1031 exchange
  • You refinanced and distributed
  • You run a family LP
  • You need a 754 election
  • A partner passed away
  • LPs want K-1 estimates early
  • Your fund holds operating LLCs
  • Your fund uses a blocker
  • You have a parallel fund
  • You lead syndicate deals
  • You run SPVs for single deals
  • You use a management fee waiver
  • You run a fund of funds
  • You have special allocations
  • The IRS opened a BBA audit
  • A distribution exceeded basis
  • You're weighing a PTET election
  • Partners live in several states
  • You have tax-exempt LPs
  • LPs are asking for K-3s
  • A partner contributed property
  • You admitted LPs at a new close
  • You use targeted allocations
  • You run a management company
  • You're a multi-member LLC
  • You co-own real estate
  • Book and tax capital don't tie
  • Your K-1s always go out late
  • A partner bought in or sold out
  • You have foreign partners
  • Your agreement has a waterfall
  • You're a GP with carry
  • You run a venture fund

Popular with VC & investment funds, real estate investors, and established businesses.

Clients, in their own words.

  • Susa Ventures
    “Rivet is super fast, incredibly responsive, and just in a league of its own. It is why the fastest-⁠moving and iconic companies of the future are using Rivet.”
    Pratyush BuddigaPartner at Susa Ventures
  • Cursor
    “Responsiveness and reliability! Most accountants don’t answer your questions for weeks, and try to avoid being helpful to save time. Rivet felt like the opposite. They went above and beyond.”
    Vibhav JoopelliVP of Finance at Cursor
  • Ramp
    “It’s been awesome seeing Rivet serve many of the fastest growing companies in the world.”
    Eric GlymanCo-⁠Founder, CEO at Ramp
  • XYZ
    “The perfect example of customer-⁠obsessed, deep domain experts who are building delightful products with AI.”
    Chauncey HamiltonPartner at XYZ
  • Ranger
    “Rivet is the only tax firm Ranger ever plans to use.”
    Josh IpFounder at Ranger

See why industry-⁠leading businesses choose Rivet.

  • Flat fee, no surprises

    One annual fee, agreed before we start. No hourly meter.

  • Corporate and personal, together

    The company's returns and its executive team's personal returns, from one team that knows both.

  • Big Four-⁠trained accountants

    A team from the Big Four and top national firms reviews every return.

  • Agents do the legwork

    Software we built runs the busywork, so our accountants spend their time on judgment calls.

  • Every filing in-⁠house

    Our own team prepares and files your federal and state returns, in all 50 states.

  • Tax only, or tax plus bookkeeping

    Your choice. Keep your books and upgrade your tax, or hand us both.

Frequently asked questions

Can't find what you're looking for? Talk to our team.

Often paired with partnership tax prep.

Don't let complexity slow you down.

One price for the whole year. No hourly billing.
Got an IRS notice or a deadline coming up? Book an urgent call