Already familiar with the basics of corporations and partnerships and ready to go deeper?
This Level II training is for tax professionals who want to move beyond preparation and really understand how business tax returns work. You'll build on what you already know and learn to analyze, reconcile, and confidently review Forms 1065, 1120, and 1120S.
Through detailed instruction and hands-on practice, you'll see how the numbers connect across schedules, spot inconsistencies, and make your work more accurate.
What you'll learn
Tap a day to see the full topic list.
Day 1
Form 1065 (Partnerships)
Presented by Nejla Smith, CPA
A deeper look at partnership returns, focused on allocations, capital accounts, and how the numbers flow between partners.
- Partner allocations and distribution of income, loss, and deductions
- Capital accounts and how they're 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
- Using Schedules M-1 and M-2 to reconcile partnership activity
- Spotting red flags and reviewing partnership returns with confidence
Work through detailed examples to see how partnership returns function beyond basic preparation.
Day 2
Form 1120 (C Corporations)
Presented by Josue Rojas, EA
A deeper look at Form 1120, focused on corporate-level calculations and reconciliation.
- Detailed breakdown of Schedules C, J, K, and L
- Completing Schedule L (balance sheet) and how it connects to the return
- Book-to-tax reconciliation using Schedule M-1
- Tracking retained earnings and activity through Schedule M-2
- Earnings & Profits (E&P) and its impact on distributions and dividends
- Spotting inconsistencies between financials and tax reporting
- A line-by-line walkthrough to tighten accuracy
Put it into practice with a hands-on workshop and real-world scenarios.
Day 3
Form 1120S (S Corporations)
Presented by Nadia Rodriguez, CPA
Build on your S corporation foundation and learn to handle more complex compliance and reporting.
- Shareholder basis tracking and reconstruction (stock and debt)
- Reading financial statements and how they affect tax reporting
- Completing and analyzing Schedules K, L, M-1, and M-2
- The Accumulated Adjustments Account (AAA) and its role in distributions
- How AAA, basis, and taxable distributions interact
- Reconciling book-to-tax differences
- Common errors and how to avoid them
Work through case studies and practical examples, one concept at a time.
Who it's for: Tax professionals with prior experience in business returns, or anyone who has completed Level I.
Can't make every session? The class will be recorded and available on demand after the event.
By the end of this training, you'll be able to analyze, reconcile, and confidently review business tax returns, so you can take on more complex clients and grow your practice.
One advanced return can pay for this training.
Where to stay
Coming in from out of town? Here are a few nearby hotels we suggest. Book directly with the hotel, and book early, since rooms can fill up.
We picked these because we know the areas and they're an easy drive to class. If you book somewhere else, check recent reviews and the location before you reserve.