Preparing Corporate Tax Return using Taxprep T2
The course includes 25 - 35 hours of training material. There are more than 30 training videos, up to 15 case studies (walk-through), several T2 practice cases, presentation/slides and other valuable resources.Sign-up for a Free Trial
Who Will Benefit:
This course will benefit individuals who wish to expand or update their Taxprep software working knowledge. Practitioners who want to learn how T2 and various tax schedules are prepared using Taxprep. CAs who has been away from public practice for some time, and are looking for quick refresher and update on preparing T2.
The course will also benefit CA students who are applying to CA firms for entry level positions and are looking to put some relevant experience and technical skills on their resume.
This course provides participants with working/practical knowledge of preparing corporate tax returns for CCPCs and various tax schedules commonly used for CCPCs. This course deals with practical issues and deal directly with the layout of the corporate tax return, the forms, and schedules utilized in the preparation of such returns.
• How to prepare full set of corporate tax returns and various schedules/forms using Taxprep
• How to account for related parties in Taxprep ie.Parent/Subsidiary relationship, control, association, sharing of SBD limit in Taxprep
• How to report dividends received from connected and non-connected corporation in Taxprep
• How to report capital gains & losses on disposition of capital property such as shares, real estate, and ABIL.
• How to request tax loss carry back/forward & tax loss continuity of net capital losses & non-capital losses
• How to record capital dividends and determine CDA balance using Taxprep
• How to record additions and disposition of capital assets and calculate CCA
• How to record additions and disposition of eligible capital property and calculate CECA
• How to account for investment income i.e interest income, rental income and foreign income
• You will learn about several ways of performing tax planning using Taxprep
Topics -T2 corporate income tax return
Preparing T2 - Sch 200, Identification section and importing GIFI - Sch 100, 125,141
Schedule 1 - Accounting income vs. Taxable income, deductible vs. non-deductible items
Schedule 2 - Charitable donations and gifts
Schedule 3 - Portfolio, connected and non-connected dividends received, Part IV tax, RDTOH, and Capital dividends
Schedule 4 - Capital and non-capital loss carry back request and loss carry forward
Schedule 6 - Disposition of capital property i.e. shares, bonds, real estate; calculation of capital gain/loss
Schedule 7 - Aggregate investment income vs. Active Business Income; Additional refundable tax on passive income i.e. interest income & rental income
Schedule 8 - CCA Classes, Calculation of CCA deduction, recapture, and terminal loss
Schedule 9 & 23 - Related and Associated Corporations; Sharing of SBD limit
Schedule 10 - Cumulative Eligible Capital deduction
Schedule 50 - Shareholder Information
Other topics covered:
Navigate through Professional Center, Client Manager and Tax return
Learn about Form Manager including jump code, filter, and search
Perform operations on Tax return, forms and Cells
Learn about Security, Protection, and Sharing
Roll forward, PDF files, Browse tools, Review Tools, Templates, Client Letters
What People Are Saying About Us
Meet our happy clients and find why our course is the preferred choice.
"Excellent training - I found the hands-on practical experience very very useful"
"Very useful and practical courses, the instructor is very knowledgeable. Will definitely recommend to all CPA students"
"The courses were very well structured and organized. Keep up the good work! I'd love to attend more sessions"
Course Price Options:
Quality service at an affordable price.
* It's 100% risk-free! if you cancel within 12 hours and you're not completely satisfied, we'll give you all of your money back.
- 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