Practice & Prepare 10 Real-Client T2 Corporate tax returns

Package 8 includes: 

TEN T2 Practice Returns & Tax Planning

  1. Investment Company
  2. Manufacturing Company
  3. Consulting Business
  4. SR&ED Business
  5. Entertainment Business 
  6. Medical Professional Corporation
  7. Law/Legal Professional Corporaion 
  8. IT Consulting Corporation
  9. Holding Company
  10. Restaurant Business
      • Use any T2 software (TaxPrep, Profile, Cantax)
      • One-on-one Q&A/Training sessions
      • Full-length detailed solutions

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Package 8 includes: 

Ten T2 Corporate Tax Practice Cases based on REAL CLIENT 

Course Objective: Prepare 10 real client corporate tax returns in any T2 tax software (TaxPrep, Profile, Cantax, etc.)

Course Pre-requisite: Must have completed the "Preparing T2 Corporate Tax" course - Click Here


Limited time offer: Premium Package includes free access to Preparing T2 Corporate Tax course


1. Investment Company

T2 - Tax return will include the following tax issues and tax planning:

            • Common tax issues relating to an Investment Company
            • 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, PartIV 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
            • Tax planning opportunities


2. Manufacturing Company

T2 - Tax return will include the following tax issues and tax planning:

            • Common tax issues relating to a Manufacturing company
            • Taxation of deferred revenue and reserves relating inventory and accounts receivable
            • 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
            • Tax planning opportunities

3. Consulting Business

T2 - Tax return will include the following tax issues and tax planning:

            • Common tax issues relating to a Consulting business
            • 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
            • Tax planning opportunities

4. SR&ED Business

T2 - Tax return will include the following tax issues and tax planning:

            • Common tax issues relating to companies doing research and development
            • 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
            • Tax planning opportunities

5. Entertainment Business

T2 - Tax return will include the following tax issues and tax planning:

            • Common tax issues relating to an Entertainment business
            • 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
            • Tax planning opportunities

6. Doctor/Dentist - Medical Professional Corporation

T2 - Tax return will include the following tax issues and tax planning:

            • Common tax issues relating to a Medical Professional Corporation
            • 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
            • Tax planning opportunities

7. Law Firm - Legal Professional Corporation

T2 - Tax return will include the following tax issues and tax planning:

            • Common tax issues relating to a Law Firm or Practice
            • Taxation of Work-in-Progress (in light of 2017 Federal Budget)
            • 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
            • Tax planning opportunities

8. IT Consulting Corporation

T2 - Tax return will include the following tax issues and tax planning:

            • Common tax issues relating to an 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
            • Tax planning opportunities

9. Holding Company

T2 - Tax return will include the following tax issues and tax planning:

            • 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 paying out eligible and in-eligible dividends
            • Planning relating paying out CDA dividends
            • Utilization of Capital losses
            • Tax planning opportunities

10. Restaurant Business

T2 - Tax return will include the following tax issues and tax planning:

        • 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
        • Tax planning opportunities


LIMITED TIME OFFER: PREMIUM PACKAGE INCLUDES FREE ACCESS TO

PREPARING T2 CORPORATE TAX COURSE

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Our CPA Educator:

Learn from the expert and qualified trainer:


Instructor's Profile

      • Over 10 years of experience in Canadian Domestic and International Tax
      • Currently a Senior Tax Manager at one of Big 7 Accounting firms
      • Previously a Tax Manager at PwC Canada
      • Chartered Professional Accountant (CPA) 
      • Chartered Accountant (CA) 
      • Completed CPA In-Depth Tax Course (Level 1, 2 and 3)
      • Completed CPA In-Depth International Tax Course
      • Instructor at CPA for the In-depth Tax program (Year 1 and 2)
      • Instructor at CPA for the PEP and PREP programs
      • Instructor at CPA for the Capstone 1 and 2
Our course is created by a CPA, who has ten years of experience providing comprehensive tax planning, consulting and compliance services to both multinationals and Canadian public & private companies in a broad range of industries and sectors. He is responsible for providing Canadian tax advice and compliance services including advising clients on cross-border transactions, mergers and acquisitions, tax planning and compliance, and assistance with Canada Revenue Agency audits. Our instructor obtained his Bachelor of Business degree with a specialization in accounting and finance from the University of Toronto. 

Feel free to call me at 416-275-6540 or email at support@accountingtraining.ca




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