Practice & Prepare 10 Real-Client T2 Corporate tax returns

Prepare a T2 return for Trump Holdings & Investment Inc. for December 31, 2019, taxation year end.

Tax Topics covered:

• Taxation of investment income including dividend income, capital gains, and interest income
• Planning relating paying out eligible and in-eligible dividends
• Planning relating to RDTOH, Part IV Tax, and dividend refund
• Planning relating paying out CDA dividends
  
• Taxation of rental properties, CCA limitation, and expense deductibility
• Utilization of Capital losses
• CCA schedule and deduction

A final copy of the client T2 tax return will be released once you email me your solution/response in a pdf format.

Prepare a T2 return for Kraft Manufacturing Inc. for September 30, 2019, taxation year end.

Tax Topics covered:

• Taxation of deferred revenue and reserves
• Deductibility of bonuses, inventory allowance, and warranty provisions
• Planning relating paying out dividends to the shareholder
  
• Tax implications of disposition of capital assets; accounting gain vs. recapture for tax purposes
• Income splitting strategies
• CCA schedule and deductions

A final copy of the client T2 tax return will be released once you email me your solution/response in a pdf format.

Prepare a T2 return for K&K Consulting Limited for January 31, 2019, taxation year end.

• Consulting industry specific tax issues
  
• Taxation of deferred revenue; advance deposits
  
• Deductibility of certain accounting expenses such as contingent liabilities, life insurance 
  
• Tax and legal implications of paying dividends from Negative Retained Earnings 
  
• Tax Instalments
  
• Income splitting strategies
  
• CCA schedule and deductions
  

A final copy of the client T2 tax return will be released once you email me your solution/response in a pdf format.

Prepare a T2 return for Toronto Bar & Grill Restaurant Inc. for May 31, 2019, taxation year end.

Tax Topics covered:

• Restaurant Industry specific tax issues
• Taxation of deferred revenue and reserves
• Deductibility of inventory obsolescence and theft provisions; auto lease, life insurance
• Planning relating paying out dividends to the shareholder
  
• Tax implications of disposition of capital assets; accounting gain vs. recapture for tax purposes
• Dividend strategies
• CCA schedule and deductions

A final copy of the client T2 tax return will be released once you email me your solution/response in a pdf format.

Prepare a T2 return for Nike Canada Corporation for March 31, 2019 taxation year end.

Tax Topics covered:

• Utilization of tax losses planning
• Application of Non-capital loss carry forward from prior three years to reduce current year income
• Application of Capital loss carry forward  
• Deductibility of certain accounting expenses such as legal fees
• CCA schedule and deduction
• Allocation and sharing of small business deduction limit among associated corporations

A final copy of the client T2 tax return will be released once you email me your solution/response in a pdf format.

Prepare a T2 return for Dr. Bobby Medical Professional Corporation for July 31, 2019, taxation year end.

• Medical Professional Corporation industry specific tax issues
  
• Common income splitting strategies using a medical professional corporation
• Salaries to family members and dividend sprinkling 
  
• Common share structure to allow for income splitting opportunities
  
• Deductibility of certain accounting expenses such as donations, golf club fees, and staff events 
  
• Tax implications of paying dividends to family members
  
• CCA schedule and deductions
  

A final copy of the client T2 tax return will be released once you email me your solution/response in a pdf format.

Prepare a T2 return for AZ Barrister & Solicitor Professional Corporation for December 31, 2019, taxation year end.

Tax Topics covered:

• Tax issues relating to a Law Practice
• Taxation of Work-in-Progress 
• Deductibility of certain accounting expenses such as contingent liabilities, life insurance
• Planning relating paying out dividends to the shareholder
  
• Income splitting strategies
  
• Tax Instalments
• CCA schedule and deductions

A final copy of the client T2 tax return will be released once you email me your solution/response in a pdf format.

Prepare a T2 return for IT Consulting Company for June 31, 2019, taxation year end.

Tax Topics covered:

• Common tax issues relating to IT consulting businesses
• Tax issues relating to a Personal Service Business (PSB)
• Limitation of expense deductibility of a PSB
• Tax issues relating to Small Business Deduction (SBD)
• Deductibility of certain accounting expenses
  
• Utilization of Capital losses
  
• CCA schedule and deductions

A final copy of the client T2 tax return will be released once you email me your solution/response in a pdf format.

• Prepare a T2 return for Family Holding Company for March 31, 2019, taxation year end.

  Tax Topics covered:

  • Taxation of income from a corporate partnership
  • Tax treatment of allowable business investment loss (ABIL)
  • Tax treatment of accounting impairment
  • Taxation of investment income including dividend income, capital gains, and interest income
  • Planning relating to RDTOH, PartIV Tax, and dividend refund
  • Planning relating to paying out eligible and in-eligible dividends
  • Planning relating to paying out CDA dividends
    
  • Utilization of Capital losses

A final copy of the client T2 tax return will be released once you email me your solution/response in a pdf format.

Prepare a T2 return for SR&ED Credit Corporation for December 31, 2019, taxation year-end.

Tax Topics covered:

• Taxation of SRED expenditures 
• How to prepare a basic SR&ED claim in the Tax return
• Various components of SR&ED claim
• Tax treatment of accounting gains and losses
• Deductibility of certain accounting expenses
• CCA schedule and deductions
  

A final copy of the client T2 tax return will be released once you email me your solution/response in a pdf format.