Schedule M-3 Book to Tax Adjustments: Overcoming the Toughest Challenges in Reporting Income and Expense Differences
Recording of a 110-minute CPE webinar with Q&A
This course will guide corporate tax executives and advisers on the complex challenges that arise in the context of book-tax adjustments on Schedule M-3 for partnerships, S corps, and corporate clients. The panel will identify and offer practical solutions for the most complex problems that frequently arise with Schedule M-3 preparation.
Outline
- Identifying book-tax differences that must be reported on Schedule M-3
- Reporting differences for income items
- Reporting differences for expense items
- Special issues particular to forms 1065, 1120-S and 1120
Benefits
The panel will explore these and other book-tax reporting issues:
- Reporting partnership income
- Identifying equity vs. dividend method for reporting income, gains and losses on asset sales, and reporting sales vs. lease transactions
- Disclosing interest income and expenses
- Determining depreciation, amortization, and other deductions
- Filing Schedule M-1 instead of Schedule M-3
- Disclosing uncertain tax positions separately on Schedule UTP when required
Faculty
James T. (Jim) Hedderman
Managing Director
True Partners Consulting
Mr. Hedderman is a Managing Director in True Partners Consulting’s Chicago office. He has over eighteen... | Read More
Mr. Hedderman is a Managing Director in True Partners Consulting’s Chicago office. He has over eighteen years of federal taxation experience both in the public and corporate arena.
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Professor Cherie Hennig, Ph.D.
Professor Hennig received her Bachelor's, Master's, and Ph.D. degrees in accounting from the University of... | Read More
Professor Hennig received her Bachelor's, Master's, and Ph.D. degrees in accounting from the University of Colorado. She began her career as an IRS revenue agent in Denver, Colorado and has taught undergraduate and graduate tax courses at several universities, including Wake Forest University, University of North Carolina-Wilmington, and Virginia Tech. She has published a number of articles in major tax journals and is co-author of numerous tax texts, including "Practical Guide to Schedule M-3 Compliance". She is a widely-sought speaker on tax matters, and has served on the Tax Executive Committee of the AICPA Tax Division.
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