Corporate Tax Return Preparation Review – A Hands On Approach, Update and Tax Tips and Traps

Small business corporate tax accounting makes up the bread and butter of most small accounting practices. In this course, we examine the T2 preparation process including a practical approach and review of the forms, schedules and common issues you will encounter. Follow along as we prepare actual T2 returns and go through the preparation and tax planning process with clients. We will also cover changes in corporate tax return preparation and cover common and less common issues. You will earn 3.5 PD hours for attending this course. 

28 Jan 2019, 12:30 PM

3.5 CPD hours

$125

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Course Description

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 corporate 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:

https://www.intuit.com/ca/partners/education-program/registration/students/profile/

Some of the Topics Covered

  1. Corporate Tax: Tax Practice Overview – An outline of the critical & key aspects & skills that practitioners will have to address before tackling the world of corporate tax and accounting
  2. Owner Manager Planning & Compensation – Unquestionably the key to small business accounting and consulting, a review of the salary/dividend compensation issues along with the effect of the new TOSI rules on planning
  3. Financial Statements & GIFI Schedules – Develop your understanding of the T2 starting with the connection and relationship between a company’s financial statements and the T2 return
  4. Small Business Example & Typical Schedules – We take a typical small business client file and use it to prepare the corporate T2, including reconciling net income for financial statement purposes to net income for tax purposes
  5. Business Losses and Planning – We build on the previous examples by looking at various scenarios including the rules related to business losses and applying them most effectively.
  6. Investment Income in Corporations – An introduction to the complex world of corporate investment income and reporting the most common transactions encountered.
  7. Shareholder Benefits & Issues – How shareholder transactions factor into the corporate tax landscape and how to analyze, report and plan for the most common issues and transactions of owner-manager clients.
  8. T2 Review and Best Practices – Completing the file and a review of the compilation engagement rules and best practices for file maintenance.

Please note that this is a half-day (afternoon) event and will be held at the Donalda Club. The structure of the event is as follows:

  • Lunch – 12:30 p.m. to 1:30 p.m.
  • Presentations - 1:30 p.m. to 5:00 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. 


Course Walkthrough

  • Corporate Tax Return Seminar
  • Archived Webinar
  • Certificate: Corporate Tax Return Preparation Review – A Hands On Approach
  • Feedback / comments

About the Instructor(s)

Picture of Ian DiNovo
Ian DiNovo

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.

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