Income, Deductions, and COGS for Partnerships 1.5 Credits
Filing 1065 Returns with Drake Software
Learning mode
Are you ready to tackle the complexities of partnership income and deductions using the powerful features of Drake Tax Software? Whether you're new to Drake or seeking to refine your skills, this course provides the perfect opportunity to enhance your expertise in preparing 1065 returns. With practical insights and hands-on demonstrations, you’ll gain the confidence to handle even the most intricate aspects of partnership filings.
This course is part of the Drake Tax Software 1065 Filings series, we’ll explore the intricacies of partnership income, deductions, and cost of goods sold. You’ll learn how to navigate the essential screens in Drake, including INC, DED, and A, and ensure data accuracy for compliance with IRS requirements. Along the way, we’ll demystify guaranteed payments, distributive shares, and other key concepts that are critical for effective return preparation.
Major topics:
By the end of this course, you'll have the tools and knowledge to prepare and review partnership returns confidently using Drake Tax Software. Join us and turn complex tax scenarios into manageable tasks while enhancing your professional expertise!
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02290-25-O) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02290-25-O) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1849) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02290-25-O) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02290-25-O) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02290-25-O) | 1 CE | Approved |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02290-25-O) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02290-25-O) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1849) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02290-25-O) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02290-25-O) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02290-25-O) | 1 CE | Approved |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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Gregory Holzel is an accomplished accountant and Certified Public Accountant (CPA) with expertise in financial analysis, auditing, and budgeting.
Education: Gregory holds an MBA with a concentration in Finance, graduating magna cum laude from Shippensburg University in May 2023. During his studies, he achieved a remarkable GPA of 3.82. Prior to his MBA, he completed a Bachelor's degree in Accounting at Central Penn College in Summerdale, PA, graduating magna cum laude in 2021. Gregory also served as a tutor during his undergraduate studies.
Experience: Gregory has gained valuable experience in the accounting field through various roles. As a Senior Auditor at S.R. Snodgrass, P.C. in King of Prussia, PA from 2021 to 2023, he audited financial statements and provided assurance services for financial institutions and employee benefit plans. His responsibilities included preparing audit work papers, documenting audit tests and findings, and preparing reports for management review. In June 2023, Gregory launched GT Financials PLLC, a company that offers accounting and financial services to small businesses.
Before transitioning into the role of a Senior Auditor, Gregory served as a Senior Staff Accountant at Fleet Repair Solutions in Grantville, PA, from 2018 to 2021. In this position, he conducted detailed financial analysis, prepared financial statements, and played a vital role in budget preparation and month-end closing. Gregory was also responsible for designing, implementing, and maintaining accounting policies, procedures, and controls.
Certification: Gregory Holzel became a Certified Public Accountant (CPA) in 2023, further demonstrating his commitment to professionalism and expertise in the field.
Skills: With a strong background in accounting and finance, Gregory possesses a wide range of skills. His areas of expertise include financial planning and analysis (FP&A), financial reporting, payroll, auditing, budget preparation, variance analysis, and cost accounting. He is proficient in utilizing tools such as QuickBooks desktop and QuickBooks online (QBO), SQL, and Microsoft Office, particularly Excel at an expert level. Additionally, Gregory has experience working with SAP and is familiar with nonprofit accounting, public accounting, and private industry practices.
Gregory Holzel is a dedicated and knowledgeable professional who consistently strives for excellence in the field of accounting. His combination of education, certifications, and practical experience makes him a valuable asset in any accounting or finance role.
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
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Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.
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