Personal Tax for Clients I - Preparing Client Returns from Start to Finish

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CPD HOURS FOR THIS COURSE - 10 VERIFIABLE HOURS FOR CPA CPD PURPOSES

Are you considering a career in personal tax preparation? Perhaps you are a bookkeeper or financial advisor looking for ways to supplement your income. Are you a CPA or other professional accountant looking to start your own practice? Well, this course was developed with you in mind.

I put this course together to help build your confidence and alleviate some of the stress in working in a busy tax preparation office during the tax season and dealing with clients. If you are considering starting a practice and charging clients for preparing and filing their tax returns, then this course is developed to help you run a smooth practice.

Here are some of the topics we will be covering in this course

1. We discuss the tax preparation requirements to be a tax preparer in Canada. Do you need to be a CPA or have some sort of designation to file taxes for others?

2. A thorough discussion and review of the forms you will need to have on file from clients in order to file their tax returns legally to make sure you stay "on-side" with the Canada Revenue Agency. (CRA). If you decide to register for e-filing, a CRA agent may call you to gauge whether you know and understand these forms before issuing you an e-file license

3. Provide you with a system or blueprint you can use to prepare tax returns. You can look over the shoulder of a partner & tax practitioner that has been preparing tax returns for 20 years and follow exactly what I do on all the tax files that come across my desk.

4. Understand the logistics of doing a number of tax returns so that you don't get bogged down in details or worse, get stuck in the trap of having to constantly change and re-do client taxes for information that you have missed. A few easy tasks could be the difference between getting burned out or surviving tax season with ease.

5. We will look closely at CRA's online services (Represent a Client) and teach you how to use the system to prepare client tax returns more accurately than has ever been possible in the past. We'll also teach you the shortcomings of this system. Believe me, if you do not understand these you could be doing your clients a huge dis-service and filing incorrect tax returns.

6. Understand and be confident with situations where you have to re-fie or adjust a client's tax return for something that was missed or filed incorrectly. We will look at all the ways to adjust a tax return from online services to the good old fashioned manual process

7. Gain confidence when dealing the the Canada Revenue Agency on client matters. We'll examine the review and audit process and provide you with tips and tricks on dealing with auditors and writing to the CRA. We'll even go through the process of appealing to the Tax Court of Canada and helping clients or their lawyers. Hint: This area is a great business opportunity to grown your business.

8. An important unit or managing the risk in your tax practice and making sure nothing falls through the cracks with both your clients and the CRA

Take the first step to becoming a seasoned and established tax preparer.