Format: In-Person (Salinas, CA)
Date: October 20 - 22, 2026
Time: 9 am - 2 pm (Pacific Standard Time)
(Lunch break 11 am - 12 pm)
CE Credits: 12 hours of Tax Law
Address: TBD
Already familiar with the basics of corporations and partnerships and ready to go deeper?
This Level II training is designed for tax professionals who want to move beyond preparation and truly understand how business tax returns work. You’ll build on your existing knowledge and gain the skills needed to analyze, reconcile, and confidently review Forms 1065, 1120, and 1120S.
Through detailed instruction and hands-on application, you’ll learn how the numbers connect across schedules, identify inconsistencies, and strengthen the accuracy of your work.
What You'll Learn:
✔ Day 1: Form 1065 (Partnerships)
Take a deeper dive into partnership returns by focusing on allocations, capital accounts, and how the numbers flow between partners.
You will cover:
• Partner allocations and distribution of income, loss, and deductions
• Capital accounts and how they are tracked and reported
• Differences between tax basis, book basis, and partner capital
• Introduction to §704(b) concepts and economic effect
• Overview of partnership liabilities and their impact on basis
• Applying Schedule M-1 and M-2 to reconcile partnership activity
• Identifying red flags and reviewing partnership returns with confidence
Work through detailed examples to understand how partnership returns function beyond basic preparation.
Presented by: Nejla Smith, CPA
✔ Day 2: Form 1120 (C Corporations)
Take a deeper dive into Form 1120 with a focus on corporate-level calculations and reconciliation.
You will cover:
• Detailed breakdown of Schedules C, J, K, and L
• Completing Schedule L (balance sheet) and understanding its connection to the return
• Book-to-tax reconciliation using Schedule M-1
• Tracking retained earnings and activity through Schedule M-2
• Understanding Earnings & Profits (E&P) and its impact on distributions and dividends
• Identifying inconsistencies between financials and tax reporting
• Strengthening accuracy through a line-by-line walkthrough
Apply what you learn through a hands-on workshop and real-world scenarios.
Presented by: Josue Rojas, EA
✔ Day 3: Form 1120S (S Corporations)
Build on foundational S Corporation knowledge and learn how to handle more complex compliance and reporting.
You will cover:
• Shareholder basis tracking and reconstruction (stock and debt)
• Understanding financial statements and their impact on tax reporting
• Completing and analyzing Schedules K, L, M-1, and M-2
• Accumulated Adjustments Account (AAA) and its role in distributions
• Interaction between AAA, basis, and taxable distributions
• Reconciling book-to-tax differences
• Identifying common errors and improving accuracy
Work through case studies and practical examples to apply each concept step by step.
Presented by: Nadia Rodriguez, CPA
Recommended for tax professionals with prior experience in business returns or those who have completed Level I.
The class will be recorded and available to watch on-demand after the event.
By the end of this training, you’ll be able to analyze, reconcile, and confidently review business tax returns, helping you take on more complex clients and strengthen your practice.
One advanced return can pay for this training.