Personal Tax - Archives T1 Examples & Case Studies

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PUT YOURSELF BEHIND THE DESK OF A MOCK TAX PRACTICE - EXAMPLES & CASES FOR 2016 - 2021 T1 RETURNS COVERED IN THIS ARCHIVE

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.

Comprehensive Examples

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.

Get Behind the Desk of a Mock Tax Practice

2016 – 5 Primer Examples plus 6 Case Studies

2017 – 4 Primer Examples plus 4 Case Studies

2018 – 3 Primer Examples plus 2 Case Studies

2019 – 3 Primer Examples plus 4 Case Studies

2020 – 4 Primer Examples plus 3 Case Studies

2021 - 2 Examples plus 2 Case Studies

In total, you will get hand-on practice with 21 examples and 21 case studies. In other words, you can look at this course as stepping into a tax practice and having 42 client files on your desk.

For additional details on the types of situations that we cover, just scroll down and browse through the course curriculum. You may also be asking whether examples and case studies of previous years are still relevant? The answer is yes. The examples and cases are developed to teach you tax concepts that apply to any year and new rules that came into play (and are still in effect) for those years .

Tax laws and administration have not changed significantly in the personal tax realm over the last few years. Also keep in mind that, believe it or not, many clients will not be up to date with their filing. You will be asked to prepare tax returns of prior years in your tax preparation career.