Canadian T1 Personal tax preparation guide

Canadian T1 Personal tax

Created by: Big 4 CPA, CA
Business courses

What Will I Learn?

• How to prepare a personal tax return from start to finish
• How to prepare a personal tax return from start to finish
• How to prepare a personal tax return from start to finish
• How to work with various T slips; employment income, investment income (interest, dividends) & other income
• How to create a family profile and identify possible planning opportunities
• How to work with various T slips; employment income, investment income (interest, dividends) & other income
• Understanding the common T-Slips (T3, T4, T4A, T5, T4RIF, T4RSP, T2202A, T5013)
• How to report capital gains & losses on the disposition of capital property such as shares, building, vehicles, etc.
• How to report investment income
• How to report deductions such as professional fees, carrying charges, child care, moving expense and RRSP
• How to report employment expenses
• How to report self-employed business income and expenses
• How to report rental income and expenses
• How to amend T1 and request loss carry back

Requirements

• New Grads/Co-ops & CPA students who are applying for entry-level jobs at CPA/CA and public accounting firms.
• Freelance Bookkeepers who want to expand their business by providing T1 preparation services.
• People who want to do their taxes.
• CPA Professionals working in accounting firms
• CPA Professionals working in Industry

Target audience

• This course will benefit individuals who wish to expand or update their Taxprep T1 tax software working knowledge. Practitioners who want to learn how T1 and various tax schedules are prepared using Taxprep. CPAs who have been away from public practice for some time, and are looking for a quick refresher on preparing T1. Accountants who are planning to set up their small CPA firm practice.