Corporate Tax Preparation Bootcamp

CURRENT PROMOTION - ONLY $169

(30% OFF REGULAR PRICE)

REGULAR PRICE - $249

EVERGREEN COURSE CONTENT - This course was developed to apply to any corporate tax year and focuses on the process and issues of preparing corporate T2 returns and dealing with owner-managers in a "boot camp" style of delivery.

Great course for practitioners wishing to refresh or build on their knowledge of corporate tax preparation - highly rated by CPA's on various professional development providers

5.5 Verifiable Hours for CPA CPD Purposes

This is a fast paced course on the preparation of T2 personal tax returns for those who have a good knowledge or understanding of introductory corporate tax concepts. We take the knowledge you have gained from introductory corporate tax courses and put it to work in a “bootcamp” style delivery.

This course is perfect for accountants, accounting/tax students or bookkeepers looking to get into corporate accounting and tax preparation or public practice by helping you see the process of completing a year-end for a typical client file. Corporate tax is a vast topic, so in this course we focus on what is the “bread & butter” of a typical sole practitioner or small firm tax practice … the small business corporation and client.

In the first segment, we take a look at the operations of a working tax practice. Before taking the dive into the world of corporate tax preparation and advisory, you should know what you are getting yourself into. In particular we focus on the differences between personal and corporate tax preparation, software considerations, and the process of gathering information about the client.

In the second segment, we methodically go through the most common forms and schedules you will encounter when preparing tax returns for small business clients and their corporations. We look at the step-by-step instructions on a number of scenarios that will enable you to see how the T2 return is compiled from typical transactions you will encounter with clients. We'll also look at the thought process that you should go through when advising clients and making decisions about a corporation's tax planning (i.e. should you carry back those losses or are there problems? Are there other alternatives? .. as an example of the issues discussed).

In the third segment, we focus on investment income inside corporations and try to break down the complex rules into digestible concepts and components. We focus on them by analyzing the typical transactions you will be required to book for those small business clients who also earn investment income. I take you through all the required investment income forms and schedules you will need to file as part of the T2 return process.

We finish things off by looking at a comprehensive example of a small engineering firm so that you can get a grasp of the process from beginning to end.

In the final segment we switch our focus on the Canada Revenue Agency (CRA) and what you can expect from the tax department when you prepare corporate taxes for small business clients. I take you through the typical review letters received along with the specific areas and accounts CRA is concentrating their review and audit efforts on. This will help guide you by showing you how to navigate through the work load and focus your efforts on these high review areas so you can either avoid the CRA radar map, or easily deal with their requests.

So buckle up and look over the shoulder of a seasoned tax preparer as we tackle all of the above issues in a real-world, tax practice context.

RECOMMENDED PREREQUISITE - The Canadian Tax Academy Introductory Corporate Tax Course or equivalent college/university or industry experience in general corporate tax concepts.