Personal Tax - T1 Case Studies
Real World Examples & Case Studies
** CURRENTLY UNAVAILABLE - BEING UPDATED FOR 2019 CASES **
PUT YOURSELF BEHIND THE DESK OF A MOCK TAX PRACTICE - EXAMPLES & CASES OF 2016, 2017 & 2018 T1 RETURNS NOW AVAILABLE
If you have taken an Introductory Personal Tax Course, then you already have the ingredients you need to start preparing personal tax returns. However, it is not enough to just know or be familiar with the tax rules, regulations, slips, forms and schedules. You have to know how to apply them and prepare actual T1 returns. A good chef knows about ingredients, but they are useless unless you use them in dishes. In this course I guide you and show you how to prepare the “dishes” … real world T1 returns.
But that’s not all. Being an effective tax preparer, bookkeeper or accountant not only requires you to know the rules and prepare tax forms, it also means you have to be an effective advisor to your clients. Believe me, if you want to be successful, you have to be a lot more than just a number cruncher. You have to know how the tax system works, and how to explain things to clients about their tax return so that they are comfortable, can understand what you did, and ultimately, come back to you again and again for tax services.
In the case studies section of the course, we not only go through returns, but look at real world conversations, issues and problems clients will have with their returns. I will teach you how to troubleshoot various situations so that you are not caught off guard when you have a client that is confused about their tax return. Helping explain their situation and guide them in the right direction is a vital component to an effective and profitable tax practice.
Start building your tax preparation “chops” by studying some common tax returns and real world situations
In this companion course to the Canadian Tax Academy’s Introductory Personal Tax course, I take you through a number of examples and case studies that will help you hit the ground running in the tax preparation business. It is broken down into 2 sections:
T1 Examples – Primers & Common Scenarios
In this section of the course we begin by getting our feet wet by looking at some very common returns that you will come across in any tax preparation practice or business. I call it the primer because it is a lot like painting a room. You first need to apply a good primer before you lay on the vibrant colours. With these simple returns, you can practice applying the knowledge you learned in your introductory tax course to the most common situations, get to know your way around the tax forms and schedules, and lay the foundation for the more complex returns.
Once we’ve gone through the examples and have a good understanding of how the T1 tax return and schedules work together, we’ll move on to more comprehensive cases and scenarios. In this section, you’ll feel like you are actually running a tax preparation practice and dealing with actual clients. Let me guide show you how to troubleshoot returns and client issues, as well as provide real world advice to help your clients and become a trusted advisor.
In addition, more examples and case studies will be added throughout 2017 to keep your knowledge fresh and up to date.
Take the next step in your tax education and enroll for only $69 (all taxes included) for a limited time!
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.
StartIntroduction to the Case Study T1 tax course (3:19)
StartInformation on the Personal Tax Course offered by Canadian Tax Academy
StartSome guidance on how to use this course and what to expect (3:06)
Start** 2018 T1 UPDATE - MARCH 8, 2019 *** - New Examples & Cases
StartTAX SOFTWARE - Student Version of Profile Tax Suite 2018 - Download & Registration Instructions (6:52)
StartHow to get the most out of tax software and how I use it in this course (6:09)
StartCourse materials, navigating the course, refunds & certificates (5:52)
StartEntering information for the primer examples (3:04)
Start2016 Primer 1 - Employee with RRSP contributions, donations and medical expenses (12:16)
Start2016 Primer 2 - Single mom with child & spousal support payments (9:45)
Start2016 Primer 3 - Student with tuition transfers to father (10:12)
Start2016 Primer 4 - Employee with employment expenses and tuition from son (15:22)
Start2016 Primer 5 - Family with three children and elderly parent living with them (14:04)