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Balance Sheets for Tax Preparers - Inland Empire Chapter In-Person Meeting 7.20.22
Doubletree Hotel Claremont
555 W. Foothill Blvd.
Claremont, CA 91711
USA
(909) 626-2411

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Wednesday, July 20, 2022, 5:30 PM - 9:00 PM PDT
Category: In-Person Chapter Meetings

Balance Sheets for Tax Preparers 
Inland Empire Chapter In-Person Meeting

Date/Time:

Wednesday, July 20, 2022
5:30 PM to 9:00 PM

Location:

DoubleTree Hotel Claremont
555 West Foothill Blvd
Claremont, CA 91711

Topic: 

Balance Sheets are baffling to many tax preparers and their reaction is often to ignore them and to opt out of preparing Schedule L on business tax returns whenever possible. But aside from being required in order to get a business loan and to prepare tax returns, balance sheets provide a lot of information to the business owners. You can help your business clients a lot, even Schedule C’s, by helping them understand what the balance sheet is telling them. In addition, preparing a balance sheet is the best way to ensure a complete and accurate tax return.This class will look at balance sheets and how to understand the information contained in them. We’ll cover how balance sheets are prepared and what to do if your client doesn’t have one. And finally we’ll see how to report the balance sheet information on Schedule L of business tax returns and how to use it to check that the tax return is correct.

Presenter:

Linda Dong, EA, ABA
Linda Dong graduated with honors from the University of Illinois in Chicago with a degree in Accounting. She went to work for the IRS, where she received a very thorough training in taxes and began auditing corporations. Not liking the adversarial relationship inherent in tax audits, Linda left the IRS and started a tax and accounting practice from her home. She grew her practice to include four employees, but eventually downsized and is now once again a sole practitioner working out of her home office. She provides tax and accounting services to individuals, small businesses, and nonprofit organizations. Linda has been an Enrolled Agent (EA) since 1982. Her credentials from the Accreditation Council of Accountancy and Taxation (ACAT) include Accredited Business Accountant (ABA) and Accredited Tax Advisor (ATA). She is a QuickBooks ProAdvisor and often teaches classes in accounting and tax to other professionals. A member of several tax and accounting professional groups, she is currently serving as President of the California Society of Tax Consultants and Secretary-Treasurer of the Wine Country Chapter.

CPE Information:

2 Federal Law hours (Topics covering existing tax law)

IRS: 18QC1-T-01680-22-I
CTEC: 1000-CE-5089

Knowledge Level: Basic (No prior knowledge expected)

Cost:

Registration Price IF REGISTERED BY JULY 17, 2022*
Registration Fee (Member): $35
Registration Fee (Non-Member): $65

*No registrations can be accepted after Sunday, July 17, 2022. 11:59 pm. Please make your reservation by the deadline. The DoubleTree cannot accommodate Walk-Ins! Meal selection to be determined during registration.

Questions? Please contact Hilde Morrow, email: [email protected], phone 951.836.3006 or David Knutson, email: David [email protected], phone 909.894.9049; or Chapter email: [email protected].

Cancellation and Refund Policy for Webinar Purchase
Written webinar cancellations will be accepted up to three (3) business days before the course begins for a full refund. Please email your request to [email protected]. No refunds will be given if cancellation notice is received later than three (3) business days before the course begins, or for no-show registrants.


This presentation has been designed to meet the requirements of the Return Preparer Office, the California State Board of Accountancy; and the California Tax Education Council including code 31 of Federal Regulations10.6 (g). This does not constitute an endorsement by these groups. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA. 95812- 2890, or phone CTEC at (877) 850-2832, or on the Internet at www.ctec.org.