Personal Tax Return Preparation Review – In Time for the 2019 Tax Season – A Hands’ On Approach, Update and Tax Tips and Traps
In this course, we take you through the step-by-step process of preparing the most common T1 returns you will encounter in practice. Follow along as we prepare actual tax returns using professional software and we guide you through the tips, tricks, hacks and traps of preparing tax returns efficiently and accurately for clients. We will also cover changes in personal tax return preparation and cover common and less common issues. You will earn 3.5 PD hours for attending this course.
28 Jan 2019, 9:00 AM
3.5 CPD hours
The approach taken will be a combination of a review of the fundamentals from a real world perspective and an outline of the issues, scenarios and problems frequently encountered by a typical practitioner involved in or thinking of starting a tax practice.
If you wish to follow along using software, you can use your own or a trial version of Intuit Profile professional tax software can be downloaded for the seminar. You may also wish to register for a student version of Intuit Profile using the following link:
Some of the Topics Covered:
- Personal Tax Process & Admin – Setting up client files for efficient processing, avoiding small errors that lead to CRA and client hassles; important dates to remember; client communication
- Employment Income Tax Returns - Reporting employment income and common deductions including proper reporting of employment income and dealing with CRA reviews in this area
- Family Tax Returns – Issues related to family tax returns including claiming tuition and transfers, claiming credits for elderly family members
- Investment income (including Capital Gains/Losses) – Dealing with investment income and issues with AutoFill my return, dealing with clients and imperfect information, recent principal exemption rules and CRA audit initiatives in real estate
- Rental Income & the T776 – Reporting rental income accurately including vacation properties, renting out portions of a residence, reporting issues with buying and selling rental properties
- Business Income & the T2125
- Tax & Other Credits – Review of tax credits, changes for 2018 and frequently encountered issues in the area of personal tax credits
- Final T1 review and Best Practices – Implementing an effective review process to catch errors, missing information and possible areas of scrutiny from CRA
Please note that this is a half-day (morning) event and will be held at the Donalda Club. The structure of the event is as follows:
- Registration & light breakfast – 8:30 a.m. to 9:00 a.m.
- Presentations - 9:00 a.m. to 12:30 p.m.
- Lunch - 12:30 p.m. to 1:30 p.m.
The cost of the seminar is $125 (+tax), which you can pay by any credit card. You will 3.5 hours of PD credits when you attend a session. We are pleased to offer an easy, inexpensive and enjoyable way to meet your PD requirements.
If you can't make the event, your registration fee entitles you to unlimited access to the event webinar that will be posted shortly after the event and, of course, the PD certificate from listening to the webinar. If you prefer a refund, please ensure that you give us at least 48 hours notice.
We look forward to seeing you at our upcoming events. Should you have any ideas for topics, speakers, or anything else, feel free to contact Melanie Russell, CPA, CA, CBV, CIM, CFE, CFF, ABV at 416-488-9590 x 225.
About the Instructor(s)
Ian has been in involved in accounting & public practice for over 20 years, where he has consulted with hundreds of businesses and prepared thousands of Canadian personal and corporate tax returns.
Canadian Tax Academy is a unique and innovative learning enterprise dedicated to passing his knowledge and experience to students, new practitioners and others interested in private practice and accounting and bookkeeping businesses through web-based tutorials and courses.
He delivers comprehensive and practical courses and training in the areas of Canadian personal and corporate tax.