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Personal Tax - Archives T1 Examples & Case Studies
Introduction & Course Administration
Introduction to the Case Study T1 tax course (3:19)
Information on the Personal Tax Course offered by Canadian Tax Academy
* 2021 PROFILE STUDENT LICENSE * Part 1 - Student Profile registration process online walk-through (4:41)
* 2021 PROFILE STUDENT LICENSE * - Part 2 - Notes on registering for the Student version of profile (7:48)
Some guidance on how to use this course and what to expect (3:06)
How to get the most out of tax software and how I use it in this course (6:09)
Course materials, navigating the course, refunds & certificates (6:25)
SECTION I - Primers & Examples of T1 Returns
Entering information for the primer examples (3:04)
2016 Primer 1 - Employee with RRSP contributions, donations and medical expenses (12:16)
2016 Primer 2 - Single mom with child & spousal support payments (9:45)
2016 Primer 3 - Student with tuition transfers to father (10:12)
2016 Primer 4 - Employee with employment expenses and tuition from son (15:22)
2016 Primer 5 - Family with three children and elderly parent living with them (14:04)
SECTION II - 2017 Tax Return Examples
2017 Example 1 - Jessica Reeves (17:10)
2017 Example 2 - Suresh & Jarmilla Chopra (14:21)
2017 Example 3 - Tamara Rathburn (10:03)
2017 Example 4 - Laura & Connor Wylde (12:54)
SECTION III - 2018 Tax Return Examples
2018 Example 1 - Steven Ramsden (13:56)
2018 Example 2 - Frances Gable (15:00)
2018 Example 3 - Shirley Young (16:24)
Section IV - 2019 Tax Return Examples
NOTES ON 2019 - Some important notes on the 2019 T1 examples and case studies (4:13)
2019 Example 1 - Ashraf Khalid (12:19)
2019 Example 2 - Marvin Anderson (18:18)
2019 Example 3 - Carter Newman (9:55)
Section V - 2020 Tax Return Examples
2020 Example 1 - Anthony Bennet (8:46)
2020 Example 2 - Regan Macpherson (14:32)
2020 Example 3 - Ronald & Ferne Penney (13:57)
2020 Example 4 - Sean Walker (23:38)
Section VI - 2021 Tax Return Examples & Cases
2021 Example 1 - Jenny Gould (34:56)
2021 Example 2 - Thomas Yeung & Lisa Chen (27:09)
2016 CASE 1 - That's Impossible! You Must Have Done Something Wrong!
Overview of the case facts and initial interview with Andrew (3:52)
Documents and tax information provided by Andrew and beginning the process (4:21)
Preparation of the T1 tax return and review of all necessary forms (11:25)
"Something is Wrong!" - Andrew and his dissatisfaction with the return (3:43)
Getting to the bottom of the issue and helping Andrew understand (9:37)
2016 CASE 2 - Single Parent - "Why is the government picking on single moms?"
Overview of the case facts and initial interview with Jessica (3:48)
Documents and tax information provided by Jessica and beginning the process (6:44)
Preparation of the T1 tax return and review of all necessary forms for Jessica (13:20)
Discussion with Jessica and her concerns (2:39)
Leading Jessica in the right direction with her tax planning (7:18)
2016 CASE 3 - I used my friend's neighbour to do my taxes, now I owe CRA money. What went wrong?
Overview of the case facts of Robert Berkovsky (4:38)
Preparation of the T1 for Robert Berkovsky and review of the return (11:31)
Did I miss anything or did I not put consider certain items for a reason? (5:08)
Additional information provided by Robert after some digging and our discussion (7:37)
Review of the final tax return for Robert with additional information provided (3:38)
2016 CASE 4 - We're seniors and don't like paying tax. Can we choose to not report our basement rent?
Overview of the case facts of Bernard and Angela Wilson (3:24)
Review of the documents and information provided by the Wilson's (4:24)
Preparation of the T1 tax return for Bernard and Angela Wilson (12:00)
Providing the Wilson's with answers to their questions and advice (9:47)
2016 CASE 5 - My parents paid for my tuition so why can't I transfer the credit over to them?
Overview of the case facts of Jason Perry (2:42)
Review of the documents provided to us by Jason for his return (5:19)
Preparation of the T1 treturn for Jason & discussion of the issues and tuition transfer questions (10:32)
2016 CASE 6 - My business is successful and I want to show that I paid my wife to save tax
Overview of the case facts of Thompson and Rosita Pilling (4:14)
Review of the documents and financials provided by Thompson and Rosita (5:00)
Preparation of the T1 return for Thompson and Rosita (8:08)
Review of the ABCO Contracting Profit & Loss statement prepared by the bookkeeper (9:58)
Preparing the T2125 with deductible expenses and adjustments (6:24)
Reconciling the Profit & Loss statement to the T2125 to ensure we didn't miss anything (3:28)
Tax planning and income splitting opportunities with Rosita (9:32)
2017 CASE 7 - This severance package I received is really confusing and my son is lazy
Overview of the case facts for Evelyn Mathesson (4:44)
Preparation of Evelyn Matheson's personal T1 Return (12:30)
Review of the issues on Evelyn Matheson Return (5:25)
2017 CASE 8 - You're telling me I owe twice as much as my daughter said? Something is wrong.
Overview of the case facts for Michael Cartan (4:56)
A review of the preparation of Michael Cartan's 2017 tax return (22:22)
Discussions and issues with Michael's return and dealing with his daughter's estimates (11:14)
2018 CASE 9 - Elliott Pereira - Client with numerous investment income sources
Overview of the case from our meeting with Elliott Pereira (7:37)
Reporting T4 income and dealing with the spousal, child and other support payments (5:01)
Beginning our review of investment income by analyzing the T slips received by Elliott (6:01)
Dealing with foreign income received from the Southbeach Developments Project - Foreign Income slips (9:04)
Reporting the capital gains and losses for Elliott and dealing with T5008 slips (6:26)
Ensuring that the T1135 for Elliott is properly filled out to comply with CRA's foreign income disclosure rules (9:42)
Final review of tax return for Elliott and answering his questions (5:41)
2018 CASE 10 - Retired couple with self-employment income - Do we still have to pay into CPP?
Joseph and Anna Biaginni introduction and case synopsis - Self-employed retirees (8:01)
Your returns may not be the same as mine - Tax preparation with business income is about professional judgement (3:12)
Review of the income and expenses provided to us by Joseph - Breakdown of what I allowed and did not allow (13:10)
Dealing with the CPP isues for Anna and Joseph and what we have to explain to them (5:49)
Optimizing the tax returns for Joe and Anna using Pension splitting and medical expenses (7:09)
2019 CASE 11 - Samantha Patrick - Single mom with 3 children wanting to save some of her RRSP's for next year
An overview of Samantha Patrick's 2019 T1 tax information (4:28)
Entering the carryforward information and dependant data into Profile (5:18)
Reviewing the dependant information for the kids to make the optimal decisions (4:24)
Proper reporting of the RRSP contributions and deduction (5:27)
Final review and answering any questions for Samantha (7:06)
2019 CASE 12 - Louie Pacheco sold home but claimed the PRE on his cottage in 2011
An overview of Louie Pacheco - Claiming the PRE when previously claimed on cottage (3:08)
Review of credits for Louie's father and medical expenses for the return (5:30)
Conceptual framework and filing requirements for the sale of Louie's principal residence (3:35)
Analysis of the Principal Residence Exemption calculations and completing Louie's 2019 T2 return (8:55)
2019 CASE 13 - Natasha & Radek Kerimovski - Real estate agent and disabled spouse
An overview of Natasha and Radek Kerimovski - commissioned real estate agent (4:03)
Reviewing Radek's car accident settlement and tax implications of the amount received SC (2:43)
Review of medical expenses and credits that Natasha can claim for Radek (7:00)
Overview of the statement of business activities and what to look out for (13:50)
2019 CASE 14 - Jean-Marc Lasalle - Litigation lawyer & real estate investor
An overview of Jean-Marc Lasalle - A litigation lawyer and property investor (5:29)
Jean Marc's income and claiming the principal residence exemption (4:32)
A difficult conversation to have with Jean Marc about his real estate investing (6:57)
Review of Jean-Marc's final tax return and the filing position we decided to take (4:36)
2020 CASE 15 - Paula & Frank Mancini - Working from home during the Covid pandemic
Introduction to Paula and Frank Mancini and case Information (5:47)
A discussion of the home office expense deduction options for Paula (9:34)
Entering the data into the tax return and completing the returns (8:45)
Discussion with Paul and Frank after realizing they are upset with their returns (7:12)
Are there any possible solutions for Paula and Frank to get them deductions (4:53)
2020 CASE 16 - Lorraine Cristofano - Tax on Split Income (TOSI)
Case Information and documentation received for Lorraine Cristofano (4:26)
Review of last year's return and preparation of her 2020 tax return (5:08)
There is a major problem with this simple tax return (10:01)
Overview of the rules that we have to be aware of and the complexities of this topic (7:29)
How should we approach these situation with the rest of our clients (6:30)
2020 CASE 17 - Alexander Nelson - Move to Kingston and conversion of principal residence to a rental property
Introduction and case information for Alexander Nelson (4:49)
Entering the data into the tax return and discussion of the RRSP contribution (10:36)
Overview of the rental income for the residence and overview of foreign income (8:34)
How should Alexander report the conversion of his residence to rental property (14:50)
2021 CASE 18 - Tory McMilan running three rental properties and selling one
Introduction to case information for Tory McMillan (3:46)
General overview of Tory's tax return and entering the data before discussion (2:53)
Review of the rental properties and sale plus recapture to be reported (9:25)
Overview of the discussion and issues we would have about paying kids (3:49)
Repairs and maintenance expenses and capital vs current discussion (7:49)
Are we able to go back and amend or adjust prior year tax returns for CCA (6:43)
Final thoughts and final tax return for Tory McMilan (5:05)
2021 CASE 19 - Timothy & Karry Booth - Commissioned investment advisor with employment expense issues
Introduction to case information for Timothy & Karry Booth (4:09)
Review of the tax return and discussion with Karry on some of the expenses (10:03)
Payments to Karry and Elizabeth and Karry's T2125 (9:31)
Decisions on the T777 for employment expenses and Karry's return (7:16)
Issues that the CRA will likely have with these returns and reason for letter (5:38)
Final tax returns and commentary - What did you allow or do on the returns? (3:22)
Conclusion & Next Steps
Conclusion & Best Practices Course Coupon (4:19)
2020 Example 4 - Sean Walker
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