Balance Sheets and Schedule L for Business Returns
San Gabriel Valley Chapter In-Person Meeting

Date and Time:

Thursday, November 3, 2022
4:30 PM - 7:30 PM

Location:

Marie Callenders
1560 Albatross Rd
City of Industry, CA 91748

Description:

Balance Sheets are baffling to many tax preparers who simply opt of preparing Schedule L on business tax returns whenever possible. But preparing the balance sheets is the best way to ensure a complete and accurate tax return. Having a balance sheet will also help your clients when they apply for a loan; the bank will always ask for it. And it can highlight errors in your clients' bookkeeping that could result in missed deductions or over-reporting income In this class we'll cover an overview of balance sheets-what they are, what to do if the client doesn't have one. And finally, we'll see how to report the balance sheet information on the tax return for each business entity and how to use it to check if 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, she left the IRS and started a tax practice from her home. She grew her practice to include 4 employees but downsized and is now once again a sole practitioner working out of her home. She provides tax and accounting services to individuals, small businesses, and nonprofit organizations. Linda has been an Enrolled Agent since 1982. She is a Quickbooks ProAdvisor and teaches classes in accounting to other professionals.

Cost / Registration:

Member: $45
Non-Member: $75

RSVP Required
Please email Melinda Estrada, Vice President at [email protected] or call 626-242-8106 to register. 

CPE Information:

2 Federal Law hours (Topics covering existing tax law)

IRS: 18QC1-T-01748-22-I
CTEC: 1000-CE-5169

Knowledge Level: Advanced (More experienced)

Cancellation and Refund Policy for Meeting Purchase: 
Written 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.