IRS Form 1120 Schedule L - Balance Sheet Per Books

Every Form 1120 corporate income tax return must include Schedule L, but not every corporation is required to complete Schedule L.

Corporations that have greater than $250k in revenue & assets are required to complete Schedule L.

It is my recommendation, however, to always complete Schedule L. In this video, I discuss the Schedule L disclosures and why you should always complete this information.

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DISCLAIMER: I am a licensed attorney and certified public accountant (CPA) in the State of Florida. I am not a financial advisor. The information provided in this video is for entertainment purposes only. No such communication is provided in the course of an attorney-client relationship, and no communication is intended to constitute legal advice. You should speak with your own tax and legal professionals to discuss your circumstances before performing any of the tax, legal, or accounting strategies demonstrated in this video. Thank you.