Preparing Corporate Tax Return using Taxprep T2

A step-by-step approach to preparing T2 tax returns for small businesses. This course includes 25 - 35 hours of training content including, but not limited to, more than 30 topic-by-topic videos, over 15 case studies, practice cases, simulations, walk-through of real-client examples, textbook, pdf manual, presentation, slides and much more.



Buy Now - $249


Most Comprehensive Online Course on Canadian Corporate Tax & T2 Return Preparation - Focus on CCPC, owner-manager and Small Businesses


UPDATED FOR 2020 T2 CORPORATE TAX RETURNS

**Student Version of TAXPREP T2 software is included with the course**

Note - T2 software is for study purposes only 


Who Will Benefit:

This course will benefit CPA Members, CPA Students and Professional Accountants who wish to expand or update their Canadian Corporate tax return preparation knowledge using a Taxprep software. 

CPA Students Looking for a Job:  The course will benefit CPA students who are applying to CPA firms for entry-level positions and are looking to put some relevant experience and technical skills on their resume. If you are a student in tax and accounting and working towards your CPA designation, then this course is intended to fill in the gap between the tedious theory and the real world.

Professionals Looking To Get Into CPA firm:  The course will benefit if you are already a professional and looking to change your career. This course will serve as a good refresher and provide all the necessary guidance and skill to make the jump.

Bookkeepers Looking To Offer T2 return services:  The course will benefit you if you are a bookkeeper and want start offering T2 corporate tax return services .You probably deal with a number of accountants on year-end T2 tax planning and work. Why not do the T2 tax returns yourself, or at the very least be able to keep up with those accountants and know what’s going on?

Those Looking To Start a Tax Preparation Business:  The course will benefit you if you want to start your own tax preparation side business. This course is their first step.


Course overview:

This course provides participants with working/practical knowledge of preparing corporate tax returns for small businesses and CCPCs and various tax schedules commonly used. This course deals with practical issues and deals directly with the layout of the corporate tax return, the forms, and schedules utilized in the preparation of such returns.


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Learning Objective and Outcome:


      Learn to prepare a full set of corporate tax returns and various schedules/forms using Taxprep software

      Learn about more than 50 book-to-tax adjustments reported on schedule 1 of the T2 return. 

      Learn about setting up Client Profile in Identification form and preparing GIFI Form (balance sheet and income statement)

      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 a 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 carryback/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






Course Walkthrough

  • General Information
  • 2019 - Taxation (TEXT BOOK/GUIDE) - Reading material
  • Presentation Slides & Case Studies - Taxprep Corporate T2
  • Corporate Tax Rates
  • Download TaxPrep T2 Corporate tax demo version for free
  • CORPORATE TAX RETURN COMPLETION CHECKLIST
  • Year-end Tax Planner 2019
  • 2019 Facts and Figure
  • T2 Schedule 1 Common Schedule 1 Book-to-Tax Adjustments
  • Introduction to the course
  • T2 Corporation – Income Tax Guide
  • Setting up Client Profile/ ID section in Taxprep
  • Case Study 1 - How to set up client's profile
  • Working with GIFI Schedule
  • Case Study 2 - Working with GIFI Schedule
  • CRA's Guide to GIFI
  • T2 Schedule 1 - Calculating Net Income for Tax purposes
  • Case Study 3 - Calculating Net Income for Tax
  • Addendum to Case Study 3
  • Bonus Case - Prepare T2 return
  • Bonus Case - FULL Solution
  • T2 Schedule 2 - Donations and Case Study 4 on Donations
  • Complete Schedule 3 if the company received a divi...
  • 2018 Budget - Refundability of Taxes on Investment Income
  • T2 Schedule 3 - All you need to know about Dividends Received, Dividends Paid, Part IV Tax and RDTOH
  • TYPES OF DIVIDENDS and PITFALLS
  • All about inter-corporate Dividends
  • Case Study 5 - Dividend income received, dividend paid to shareholders and calculation of Part IV tax and RDTOH
  • Case Study 6 - Dividend Income Received, Part IV tax and RDTOH
  • Case Study 6 - Solutions
  • Complete Schedule 4 if the company wants to carryb...
  • T2 Schedule 4 - All you need to know about Capital and Non-Capital Losses & Case Study 7
  • Case Study 7 Scenario 2 - How to carry forward non-capital loss to apply against prior year taxable income
  • Case Study 7 Scenario 2 - Solution
  • Case Study 8 - How to Carry back Non-Capital Losses
  • Case Study 8 Scenario 2 - How to carry back non-capital loss to apply against prior year taxable income
  • Case Study 8 Scenario 2 - Solution
  • Case Study 9 - How to carry forward capital loss and apply against current year taxable income
  • Case Study 9 Scenario 2 - Solution
  • Big Picture Overview and Recap of Schedule 1 to 4 ...
  • Big Picture and Recap of Schedule 1 to 4
  • Complete Schedule 6 if the company realized a capi...
  • Case Study 10 - How to report Capital gains on Schedule 6 of the T2 return
  • T2 Schedule 6 - All you need to know about Capital Gains and Losses
  • Case Study 11 - How to report a disposition of a Building (depreciable property) and calculate recapture and capital gain on Schedule 6 & 8 of the T2 return
  • Complete Schedule 7 if the company earned passive ...
  • T2 Schedule 7 - All you need to know about Investment/Passive Income
  • Case Study 12 - How to report investment and passive income on Schedule 7 of the T2 return
  • Case Study 12 Scenario 2 - How to report and calculate tax on investment or passive income
  • Case Study 12 - Solution
  • Complete Schedule 8 if the company either purchase...
  • T2 Schedule 8 - All you need to know about CCA, UCC, recapture and terminal loss
  • Case Study 13 - How to CCA and UCC balance on Schedule 8 of the T2 return
  • Case Study 14 - How to calculate CCA, Recapture and terminal loss on Schedule 8 of the tax return
  • Case Study 14 - Solution
  • 2019 Federal budget - Changes in CCA rules
  • Complete Schedule 9 if the company is related or a...
  • Taxprep Corporate - Schedule 9 and Case Study 15
  • Complete Schedule 23 if the company is associated ...
  • Taxprep Corporate - Schedule 23 and Case Study 16
  • Complete Schedule 50 to report the company's Share...
  • Taxprep Corporate - Schedule 50 and Case Study 17
  • Optimal Salary-Dividend Mix
  • Passive Investments - UPDATE
  • T2 - Information Gathering Questionnaire - Sample
  • RECAP - Preparing a Corporate Tax Return - 7 Step Process
  • Preparing T2 – Taxprep Basics
  • Your Feedback is very important for us!
  • Certificate of Completion
  • "The course provides hands-on experience that is t...

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"

Carol Miller, CPA student

"Very useful and practical courses, the instructor is very knowledgeable. Will definitely recommend to all CPA students"

Brandon Riley, CPA student

"The courses were very well structured and organized. Keep up the good work! I'd love to attend more sessions"

Jonathan Lawson, CPA student

"The step by step video tutorial is easy to follow and the case study that required marking and feedback. Overall a Brilliant Course!!"

Bruce Smith, CPA Student