| Published | 2022-02-12 |
| Platform | Udemy |
| Rating | 3.76 |
| Number of Reviews | 5 |
| Number of Students | 6 |
| Price | $54.99 |
| Instructors |
Big 4 CPA, CA
|
| Subjects |
Canadian T1 Personal ta
The most comprehensive online course on how to prepare Canadian personal tax returns using a TaxPrep T1 Software.
Who will Benefit:
This course will benefit individuals who wish to expand or update their Taxprep T1 tax software working knowledge. Learn how prepare T1 and various tax schedules. Are looking for a quick refresher on preparing T1, if so this course is for you. Are planning to start a T1 business on the side?
This course is also very useful for:
People who want to do their taxes.
New Grads/Co-ops & CPA students who are applying for entry-level jobs at CPA/CA and public accounting firms.
Freelance Bookkeepers who want to expand their business by providing T1 preparation services.
Learning Objectives
Learn how to prepare a personal tax return from start to finish.
How to set up a client file and navigate through Taxprep
How to create a family profile and identify possible planning opportunities
How to identify and claim non-refundable tax credits
How to claim non-refundable tax credits (public transit, donations, medical expenses, tuition, textbook and education amount, interest on government-provided student loans, etc.)
How to work with various T slips; employment income, investment income (interest, dividends) & other income
Understanding the common T-Slips (T3, T4, T4A, T5, T4RIF, T4RSP, T2202A, T5013)
How to report capital gains & losses on the disposition of capital property such as shares, building, vehicles, etc.
How to report investment income
How to report deductions such as professional fees, carrying charges, child care, moving expense and RRSP
How to report employment expenses
How to report self-employed business income and expenses
How to report rental income and expenses
How to amend T1 and request loss carry back
Intermediate Personal Tax Topics
Preparing T1 - 7 step process
Identification and client profile
Working with T-slips
All about Federal Tax Credits
T1 jacket and Schedules
Schedule 1: Federal tax calculation
Schedule 3: Capital gains (or losses)
Schedule 4: Statement of investment income
Schedule 9: Donations and gifts
Schedule 11: Tuition and education amounts
Advance Personal Tax Topics
T2125#: Statement of business activities
T2125#: Statement of professional activities
T776#: Rental income
T777: Employment expenses
T778: Child care expenses
ABIL: Allowable business investment loss
Loss: Net capital losses
Loss: Non-capital losses
RRSP: RRSP deduction
Support: Support payments
Tax planning to maximize tax refund
Child support and spousal support
All about RRSPs rules, contribution limit
Profession fees and union dues
Child care expenses and Moving Expenses
Carrying charges and interest expenses
Home-Office expense
Loss carry back and carry forward
Auto and Travel Expense issues
Lifetime capital gain exemption
Capital Assets and CCA-depreciation