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Balance Sheets for Tax Preparers - San Jose Chapter Virtual Meeting
Wednesday, December 14, 2022, 5:00 PM - 7:00 PM PDT
Category: In-Person Chapter Meetings

Balance Sheets for Tax Preparers
San Jose Chapter Virtual Meeting

Date/Time:

Wednesday, December 14, 2022
5:00 - 7:00 PM PST

Location:

Online Meeting via Zoom
This will be Zoom Meeting. Once you register and pay, the Zoom link will be provided for you to log in at the designated meeting time. Zoom does require registration before entering the meeting. 

Topic: 

Balance Sheets are baffling to many tax preparers who simply opt out of preparing Schedule L on business tax returns whenever possible. But preparing the balance sheet 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 they tell us, and how they can highlight errors. We’ll learn 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 that the tax return is correct.

Presenter(s):

Linda Dong, EA, ABA
Linda Dong graduated with honors from the University of Illinois in Chicago with a degree inAccounting. She went to work for the IRS, where she received a very thorough training in taxe sand 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 AccreditationCouncil 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-01762-22-O
CTEC: 1000-CE-5183

Knowledge Level: Basic (No prior knowledge expected)

Cost:

Registration before December 11, 2022
Registration Fee (Member): $0
Registration Fee (Non-Member): $30

Registration after December 11, 2022
Registration Fee (Member): $10
Registration Fee (Non-Member): $40

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.