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Tax Planning for Corporate Owner Managers

Tax & Compensation Planning for Small Business Corporate Owner-Managers

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** STUDENT VERSION OF INDUSTRY LEADING PROFESSIONAL TAX SOFTWARE (INTUIT PROFILE) IS INCLUDED WITH THIS COURSE **

** Note - software is for study purposes only You cannot file actual tax returns for yourself or clients **

Over 13 Hours of video tutorials

Preparing corporate T2 tax returns for corporate owner-manager clients is only a small part of the overall planning process with our clients. Working with small business owners to meet their financial and business objectives is the primary task of any reliable and valuable tax advisor.

This course focuses on helping you form and develop your craft in owner-manager tax planning. It will teach you how to break out of the cookie-cutter mold to tax planning and show you how to build and develop your planning craft.

The T2 Course offered here at Canadian Tax Academy taught you how to prepare T2 corporate returns with a focus on small businesses. If you have taken that course, then you’ll know that preparing a company’s corporate tax return is the culmination of the bookkeeping and tax planning process. It is the final step once all the bookkeeping is done and the tax plan implemented.

This course focuses on the most important aspect of dealing with owner-managers; determining what is the best compensation strategy for them. However, this is not like any other tax course you have taken in the past, as I take a different approach that will help you immensely in your business or practice.

In this course, I teach you how to build your craft so that you can apply the concepts taught to any tax year and deal with any new tax changes. Your business’ clients are not tax experts so they shouldn’t be spoken to as if they were. Clients don’t want to see boring online tax tables that will have their eyes glaze over with boredom or frustration. They don’t want to talk about their taxes in terms of percentages or “points” when talking about savings.

… what they really want is something that they can understand and wrap their minds around. They want accurate tax and income estimates and be shown how to accomplish financial goals with the most effect tax strategies. And, most important of all, the last thing they want is us to apply a ‘cookie cutter’ plan pulled of a textbook to something as important as their business and financial future.

You will not find any course out there that goes into this much depth on owner manager compensation planning. Before this course, you would have had to piece everything together from various sources … you would have had to take numerous individual seminars and courses and go through the school of hard knocks learning these ideas and concepts from years of practice and experience. Undoubtedly you would have made many mistakes along the way.

Now you can hit the ground running by taking this course and building the foundation on which all your future learning and knowledge will be based.

That’s not all we will be covering. As you’ve come to expect from our courses, this course also teaches you what you need to do to implement your strategies. In the real world, our clients don’t just want us to advise them on what needs to be done. They also want us to implement it for them and put it into action

For a complete listing of the tutorials, just scroll down and check out the full curriculum.

TOPICS COVERED & IDEAS PRESENTED IN THIS COURSE

  • The differences between dividend and salary compensation for clients and the factors they need to be aware of to make their decisions
  • How to factor in a client’s entire financial picture and help them meet their immediate and future goals
  • Analyzing various scenarios that take into account RRSP planning, child care, income splitting with spouses (including the new rules for 2018)
  • Dealing with shareholder transactions issues including loans, using corporate assets for personal use, using employee benefits as compensation, and much more
  • Setting up corporate shares properly to ensure the most effective dividend strategy and making sure your hands are not tied due to simple corporate structures
  • Important dates you need to know in order to implement your strategies so that you don’t miss deadlines and keep your plan’s onside with the Canada Revenue Agency (CRA)
  • How to prepare year end T4 sand T5 slips and summaries for owner managers
  • Providing client’s lawyers with information necessary to update the minute book

WHAT YOU WILL LEARN FROM THIS COURSE

  • How to take a more holistic and long term planning approach when deciding on compensation
  • Using tax software and other tools to prepare more accurate plans rather than tedious tax charts or formulas which more often than not, lead to imprecise results
  • How to analyze different scenarios using corporate tax, salary and dividend planning to come up with accurate models and tax estimates
  • How current salary and dividend plans affect a client’s retirement income
  • Factoring in all aspects of a client’s business and financial life to make sure the plan is customized to them
  • Get a solid understanding of how decisions you make now affect future income and tax liabilities
  • Apply these compensation concepts to real world accounting files and get a glimpse into how accountant’s deal with client transactions and records


Your Instructor


Ian DiNovo, CPA, CGA
Ian DiNovo, CPA, CGA

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.


Course Curriculum


  Module 6 - Shareholders - Loans, Benefits & Other Compensation Issues
Available in days
days after you enroll

Frequently Asked Questions


When does the course start and finish?
The course starts now and never ends! It is a completely self-paced online course - you decide when you start and when you finish.
How long do I have access to the course?
How does lifetime access sound? After enrolling, you have unlimited access to this course for as long as you like - across any and all devices you own.
What if I am unhappy with the course?
We would never want you to be unhappy! If you are unsatisfied with your purchase, contact us in the first 30 days and we will give you a full refund.
How is the course taught and delivered?
The course is presented though a series of bite-sized tutorials. This allows students to do 2 thing. First, they can learn the concepts at their own pace. Second, they can come back and easily find a tutorial when they need a refresher. This also allows the instructor to easily update the course when there are changes.
Are there any tests, quizzes or exams?
No. This is not a certification course. It is for your own self-development and will be a valuable asset in your tax aresenal not only now, but in the future as well. There are no tests or exams to pass.
Is this course eligible for PD credits? Do you issue certificates?
Yes, a certificate of completion can be requested once you complete the course. Once we verify that you have actually watched the tutorial videos in our system, we will issue the certificate via email for your records. This course is 13 verifiable hours in length and you will be issued a certificate for this number of hours.

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