Line-by-Line Tax Filing Guide for
Corporations & Partnerships
Learn to accurately complete Forms 1065, 1120, and 1120-S in this in-depth training.
PARTNERSHIPS
Incorrectly filed partnership returns can lead to IRS audits and penalties. Learn how to get it right.
C CORPORATIONS
Misreporting income and deductions can mean higher tax liabilities. We’ll show you how to optimize Form 1120.
S CORPORATIONS
Pass-through taxation mistakes can cost your clients money. Ensure proper reporting and compliance.
Preparing advanced tax forms can boost your income by attracting high-value clients who seek expert-level tax services.
1. Higher Earnings Potential – Offering corporate and partnership tax preparation allows you to charge premium fees compared to individual tax returns.
2. Attract High-Value Clients – Businesses require ongoing tax services, leading to long-term, high-paying client relationships.
3. Expand Your Expertise & Credibility – Mastering business tax returns sets you apart from competitors and positions you as a knowledgeable tax professional.
4. Increase Year-Round Revenue – Business clients often need bookkeeping, tax planning, and compliance services beyond tax season, providing steady income.
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LEVEL I - Intermediate - Earn up to 6 CE hours of Tax Law per day.
Understanding Business Entities & Form 1065 (Partnership Returns)
This session will cover the key business entity types, including sole proprietorships, partnerships, corporations, and S corporations, with a focus on their tax implications, advantages, and disadvantages.
We’ll introduce Form 1065, explaining who needs to file, partnership taxation basics, and how income and expenses flow through to partners.
The day will include a detailed walk through of Form 1065, focusing on the income and deductions sections and Schedule K. Participants will also complete a case study to practice filling out a partnership return, and learn how to prepare Schedule K-1s to report each partner’s share of income, deductions, and credits.
Value of $438.90
Understanding & Preparing Form 1120 (C Corporation Tax Return)
This session will cover the taxation and compliance requirements for C corporations, including the double taxation issue and its effects, as well as recordkeeping requirements.
We’ll go line-by-line explaining the key sections of Form 1120, focusing on income, deductions, and special deductions such as dividends received, charitable contributions, and net operating losses.
Participants will complete a case study on a C corporation return, including allocating expenses and calculating taxable income.
We’ll also cover tax adjustments and credits, including depreciation, Section 179, and business tax credits. The day will end with a hands-on exercise where participants will complete Form 1120 manually.
Value of $438.90
Understanding & Preparing Form 1120S (S Corporation Tax Return)
This session will cover the taxation and compliance requirements for S corporations, focusing on pass-through taxation, shareholder compensation rules (reasonable salary), and the election process for S-Corp status.
We’ll walk through the key sections of Form 1120S, including income, deductions, and Schedule K (shareholder’s income and deductions). Participants will complete a case study on an S corporation return, focusing on allocating profits and losses among shareholders.
We’ll also cover how to complete and distribute Schedule K-1 for shareholders. The day will conclude with a hands-on exercise where participants will complete Form 1120S and issue K-1s manually.
Value of $438.90
TOTAL VALUE OF $1,316.70
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LEVEL I
Can’t make this session? More dates and advanced training are coming soon—stay tuned!
*Dates, location, and topics subject to change.*