Introduction to Corporate Tax - Preparing T2 Corporate Tax Returns
Comprehensive Introductory Online Course on Canadian Corporate Tax & T2 Return Preparation - Focus on Small Business T2 Returns
- The course is updated annually at no additional charge to students - USE IT AS A VALUABLE TAX RESOURCE
UPDATED FOR 2018/2019 T2 CORPORATE TAX RETURNS - ALL UPDATES ARE INCLUDED WITH YOUR INITIAL PURCHASE
** FULL STUDENT VERSION OF INDUSTRY LEADING PROFESSIONAL TAX SOFTWARE (INTUIT PROFILE) IS INCLUDED WITH THIS COURSE **
Note - this software is for study purposes only and you cannot file actual tax returns for yourself or clients
Welcome to your first step on long but rewarding journey into the world of corporate tax here at the Canadian Tax Academy (CTA).
If you are looking to expand your knowledge and make the move from personal tax returns to the corporate tax world, then this is the vital introductory course you have been looking for. In this course, I take you through the step-by-step process of preparing the Corporation T2 tax return with a focus on Canadian small businesses.
Best of all, here at the Canadian Tax Academy I take a practical approach to teaching the material. Tap into my 17 years of experience preparing thousands of corporate tax returns. You’ll be able to look over my shoulder as I take you through real world examples. I’ll also explain difficult concepts in terms you’ll understand. One thing I hate about text books is that they tend to be too technical and fail to get important concepts across to the student. If you have taken any of these courses, I’m sure a light will off in your head when I explain certain concepts and it suddenly “makes sense”
So how is the CTA Introduction to Corporate Tax Course different from those offered on the market?
- Once you purchase the course, you will have lifetime access to all the content including the video tutorials and all reference materials. One-time purchase, lifetime access with no further charges/fees
- The course is constantly updated for changes to tax laws, budgets, forms, schedules etc. You can log on at any time and check the course update log to see if there have been any changes and updates that you will need to revisit to keep up to date
- The course is divided into bite-sized video tutorials which makes the material easy to follow and find again if you need to revisit a particular topic. Hence, there is no need to scroll through hours of video trying to find the few minutes you are looking for. Scroll down this page to the curriculum listing to see all the tutorials in the course.
I have divided the course into 3 sections. But first ….
GUIDANCE – Before we dig into the meat of the course, I provide students and future tax preparers with some practical advice. I wish I had this module when I started my career in Canadian accounting, tax and public practice. Many of my students here at CTA approach me for career and general advice to help guide them in this brave new world of tax. Let me get you off on the right foot. You’ll soon realize that corporate tax IS NOT just about filling out a T2 Corporate Tax Return.
Once I help you get on the right path with all that advice you can dig into the 3 core sections of the course:
SECTION 1- THEORY & CONCEPTS – This section is all about teaching the mandatory theory and concepts you need to know so that you will understand how the Canadian Corporate tax landscape works. I know, you’re probably rolling your eyes but hear me out. Corporate tax and T2 returns are NOT AT ALL like Personal tax returns. It’s apples and oranges ... actually more like apples to pomegranates. To prepare returns accurately and properly, you will need to know these mission critical concepts otherwise you will have no idea where to begin.
But don’t worry, I will explain these concepts to you in ways and using language that you will understand. You’ll also be able to use this approach to help your clients understand their tax and business situation. For me, it has always been a great feeling when clients compliment me on my ability to explain complicated concepts to them in ways that they can understand. I want you to have that ability as well. Use my explanations and approach as a blueprint for your own clients and practice.
SECTION 2 - THE T2 RETURN & SCHEDULES – Now that we have that theory behind, let’s see how it all comes into play on the T2 Corporate tax return. In this section, I will take you through all the relevant forms and schedules you will need in order to prepare tax returns. We will focus on Canadian corporate small businesses so that you can start to do accounting and tax work for these types of clients. I’ll take you through each one, step-by-step and cover everything you need to know to prepare small business T2 tax returns.
SECTION 3 - T2 EXAMPLES – The best way to learn is by doing. In this section we will look at actual examples of small business tax returns so that you can see how I put a corporate tax return together from beginning to end. We’ll look at a number of very common case studies and scenarios so you’ll have a game plan when you come across these types of situations in your firm or practice. I’ll also bridge the gap between a university or college level course and the real world by taking an example right out of a corporate tax textbook and filling out the T2 return. (No pen/paper and tedious calculations they take you through in those courses).
WHO THIS COURSE IS FOR:
This course was developed with a number of students and professionals in mind:
1. The CPA Student – If you are a student in tax and accounting and working towards your CPA designation, then this course is intended to fill in the gap between the tedious theory and the real world. You’ll quickly come to realize when you get into the work world that they are vastly different. This course helps you become job ready so that you’ll be able to impress those managers and partners at the firm you work at by hitting the ground running with corporate tax returns. Think of this as the Accounting Firm manual that they don’t “put in the box”.
2. The Professional Looking To Get Into Public Practice or Tax Preparation – If you are already a professional and perhaps looking to change your career and start preparing tax returns, then this course will serve as a good refresher and provide necessary guidance and skill to make the jump.
3. The Bookkeeper Looking To Build Their Business – If you are a bookkeeper, you already have your hand on the pulse of your clients. You probably deal with a number of accountants on year-end T2 tax planning and work. Why not build your own “T2 Chops” and either do the returns yourself, or at the very least be able to keep up with those accountants and know what’s going on?
4. Those Looking To Start a Tax Preparation Business – Many students in the Personal Income Tax Course have started their own tax preparation business. A few have expressed interest in learning about corporate tax and T2 preparation to help them build that side of their business. This course is their first step.
WHAT IS COVERED IN THE COURSE
Well, see for yourself! Just scroll down this page and you can see the entire curriculum laid out for you. I’ve also added some free previews for all the modules so that you’ll be able to see how the course is taught and get a good idea of the content before you decide to take the plunge and purchase the course.
Click on the Enroll Now button and I’ll see you on the other side!
"Hi Ian, I found your course very informative and a great refresher. I have over 20 years experience in accounting and have my own business which includes bookkeeping and income tax.
Your teaching style is like a great book i was always anxious to get to the next tutorial. Thank you very much for taking the time to put these tutorials together and i look forward to taking new ones from your site on different topics. Have a good one!!"
- Murielle Roach
"Thanks Ian for putting together this EXCELLENT course. I have taken quite a few courses on Canadian Taxes and I can attest that yours is by far the best course I have taken.
Its beautifully organized in bite size lessons; making the complex world of taxes both enjoyable and digestible. Looking forward to taking more courses in future!"
- Akbar Pirani
"Thank you, Ian. You explain things very clearly. I feel that I got a lot out of this course. I'm so glad I took it. It really is an excellent course. I like the short, to the point, tutorials."
- Fernando Della Cruz
"A very good job, Ian. Frankly, a heck of a lot better than the tax training I got as part of the CGA program. My initial thought was just to take the T2 course, since most of my experience has been in T1's.
But I now am thinking of taking the T1 course as well. If all you have done is taken an introductory tax course and then practiced for a while, it is too possible to keep making the same mistakes over and over. Time to get the foundation right. Thank you for providing this course."
- Steve Duncan
StartWelcome - Introduction to the course and how it is laid out (4:51)
StartAdministration - Course notes, cases & refund policy (5:12)
StartCourse update log - Refer to this tutorial for listing of updates (1:54)
StartTAX SOFTWARE - Student Version of Profile Tax Suite 2018 - Download & Registration Instructions (6:52)
Start** 2018 T2 UPDATE ** - New 2018 T2 Case Example
PreviewThe difference between corporate tax and personal tax study (8:34)
StartPersonal tax and corporate tax are intertwined for small business clients (3:55)
StartTaking a holistic approach to your business and corporate clients (5:03)
StartCorporate tax isn't just about the Income Tax Act (4:43)
StartBuilding your knowledge base and keeping informed (4:15)
StartSome of the best resources available to build your tax knowledge (7:38)
StartA note about comments and how you should use this course (3:39)
StartWhat this course covers and what it doesn't cover (5:48)
StartCorporation as a separate legal entity for tax matters (6:57)
PreviewCan the corporate veil be pierced? (5:23)
StartWhat is a CCPC - Canadian Controlled Private corporation? (4:42)
StartWhat is the Small Business Deduction and who can claim it? (6:09)
StartActive business income and investment income (7:13)
StartThe important concept of integration and avoiding double taxation (7:26)
StartThe principal of a corporation as a tax deferral vehicle (6:08)
StartA look at the flat corporate tax rate and special rates across Provinces (5:50)
StartThe types of corporations you will deal with in practice (4:04)
Ian DINovo is a professional accountant and Director of the Canadian Tax Academy. He has been practicing accounting and offering independent financial and business advice for over 15 years.
He is the creator of a number of courses dealing with business, tax and investment matters that are designed to make difficult topics easy to understand for everyone.