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Corporate Tax Preparation Bootcamp
Introduction & Overview of Corporate Tax
Introduction to the course and what will be covered (5:14)
Administration - Course Payments, Refund policy, certificates of completion (6:25)
Course Notes & PowerPoint Presentation Slides
The difference between a T1 practice and corporate tax practice (8:57)
Corporate client bookkeeping and knowledge of client business (12:55)
A look at software oprionts and what you required for a T2 practice (6:43)
Downloading a student trial version of Intuit Profile for this course (5:36)
An overview of corporate tax concepts and tax software (12:49)
Client information needed and a review of the T2 return and process (12:39)
Federal T2 Return for Small Business Corporations
A look at Ace Engineering and the GIFI schedules along with working paper and tax software (13:11)
Overview of the T2 schedules needed to prepare Ace Engineering's T2 return (19:56)
Summary of the T2 preparation process and completing Ace Engineering's T2 return (9:35)
Scenario 2 - Carrying back losses to recover taxes and related thought process/advisory (17:22)
Scenario 3 - Coporation with profit and loss carrforward to apply (10:19)
Fixed assets, Capital Cost Allowance and the new AII rules (13:40)
Scenario 4 - A look at fixed assets, Schedule 8 and the new Acclerated Investment Incentive (12:48)
Investment Income in Corporations - Grip Balances
Investment income - Sorting through all the rules and rates (33:04)
Understanding the dividend refund system and the GRIP and LRIP balances (29:01)
A review of other important schedules on the T2 corporate return (22:14)
Comprehensive example of Ace Engineering with a number of transactions (46:38)
Capital dividend considerations and new RDTOH rules (23:36)
Investment Income in Corporations - Grip Balances
CRA Initiatives in the area of corporate tax and what to expect - line item reviews (18:21)
Types of corporations and income along with payroll audits (19:37)
Conclusion - Thank you and next steps in corporate tax (3:59)
Fixed assets, Capital Cost Allowance and the new AII rules
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