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Operating Considerations of a C Corporation – Part 2
IRS Program #: X9QQU-T-01019-23-O
CTEC #: 6257-CE-0162
CE: 2 IRS & 2 CTEC credits
Speaker: Patrick Dimmitt, EA, MST
During Part 2 of this course, we will do a comprehensive review of a client’s books and then prepare a tax return where a different accounting method is used for Tax. You will also be able to identify items to be addressed in future years when reviewing a past year's return.
- Analysis considerations in setting up company books with different accounting methods than its elected tax method.
- Discuss how to schedule M1 is completed and what items need to be reported to correctly reflect taxable income.
- Discuss completing Schedule L and M2 from the client’s books and records and the relationship between these schedules as well as Schedule M1.