Preparing Personal Tax Return using Taxprep T1

Advance Personal Tax Course - This course includes up to 25 hours of training material. There are more than 20 training videos, up to 15 case studies (walk-through), several T1 practice cases, presentation/slides and other valuable resources. 

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Who Will Benefit:

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 has 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. 


This course is also very useful for 

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


Learning Objectives: 

  1. Learn how to prepare a personal tax return from start to finish.
  2. How to set up a client file and navigate through Taxprep
  3. How to create a family profile and identify possible planning opportunities
  4. How to identify and claim non-refundable tax credits
  5. How to work with various T slips; employment income, investment income (interest, dividends) & other income 
  6. How to report deductions such as professional fees, carrying charges, child care, moving expense and RRSP
  7. How to report employment expenses
  8. How to report self-employed business income and expenses
  9. How to report rental income and expenses
  10. How to amend T1 and request loss carry back


Intermediate Personal Tax Topics 

  1. Preparing T1 - 7 step process 
  2. Identification and client profile
  3. Working with T-slips
  4. All about Federal Tax Credits
  5. T1 jacket and Schedules
  6. Schedule 1: Federal tax calculation
  7. Schedule 3: Capital gains (or losses)
  8. Schedule 4: Statement of investment income
  9. Schedule 9: Donations and gifts
  10. Schedule 11: Tuition and education amounts


Advance Personal Tax Topics 

  1. T2125#: Statement of business activities
  2. T2125#: Statement of professional activities
  3. T776#: Rental income
  4. T777: Employment expenses
  5. T778: Child care expenses
  6. ABIL: Allowable business investment loss
  7. Loss: Net capital losses
  8. Loss: Non-capital losses
  9. RRSP: RRSP deduction
  10. Support: Support payments


Tax planning to maximize refund

  1. Child support and spousal support
  2. All about RRSPs rules, contribution limit
  3. Profession fees and union dues
  4. Child care expenses and Moving Expenses
  5. Carrying charges and interest expenses
  6. Home-Office expense
  7. Loss carry back and carry forward
  8. Auto and Travel Expense issues
  9. Lifetime capital gain exemption 
  10. Capital Assets and CCA-depreciation

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

Course Price Options:

Quality service at an affordable price.

Regular

$299 $399

Includes 1 hours of one-on-one Skype or Webex sessions

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Premium Plus

$399 $499

Includes 2 hours of one-on-one Skype or Webex sessions
 
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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.

All courses include 1-Year online access and Unlimited 1-on-1 Support from the Instructor via Email, Text/SMS, Short Phone Calls, and Onsite Chat 

Frequently Asked Questions





How long do I have access to the course?

Your online access will expire in one year from the sign-up date. The course is completely delivered online via topic-by-topic tutorial videos, real-client practice cases, full-length detail solutions, reading notes and powerpoint presentation slides. You can study at your own pace and can access the content online at any time.

What if I have questions as I complete tutorial videos and practice cases?

We provide unlimited support via email, text, SMS, short phone calls, and website online chat. You can ask as many questions as you want and when you want.

How do you offer the one-on-one training sessions?

If you are in Toronto area, we can meet in-person to discuss your questions. Otherwise, we can meet online via Skype, Webex or Teamviewer.

How is the course taught?


The course is presented through a series of topic-by-topic videos. The videos include a technical discussion and theoretical overview of a given topic and a walkthrough of a real client practice case in the software. This allows students to learn the concepts at their own pace and review a particular topic again and again.

Do you provide access to the software for hands-on learning?

Yes, the course includes instructions to download TaxPrep T2 Corporate Tax and T1 Personal Tax return software (practice version only). The T2/T1 software can be used for practicing real-client cases and hands-on-learning. Please note we are not licensed or authorized to sell or distribute any software.

Who is the course instructor and can I contact the instructor to discuss questions?

Click Here to view instructor's profile. Yes, you can contact the instructor at any time you have questions. You can email the instructor at support@accountingtraining.ca

What kind of accounting or tax knowledge do I need to have before taking this course?

You should be familiar with basic accounting concepts. Ideally, you should have completed university level accounting course.

Are there any tests, quizzes or exams?

Yes. There are short tests, quizzes or exams to pass, before we can issue a course completion certificate.

How often is the course updated?

The course is updated on an annual basis to keep up with changing tax legislation. We also update the course with any new budget information that is important to the course content throughout the year when applicable.

Can I re-take or re-attend the course?

Yes, you will have unlimited access to the online course content.

Is this course eligible for PD credits? Do you issue certificates?

Yes, you will earn verifiable PD credits and a certificate of completion will be issued after you complete the course.

Do you provide resume tips, interview tips, and career tips?

Yes, we provide students with the resume tips and career advice.

What if I am unhappy with the course?

If you are unsatisfied with your purchase, contact us within the first 12 hours and we will give you a refund. Please review the refund policy here.



Why Choose AccountingTraining.ca

one-on-one training

Hands-on Experience

Practice on real-client files on the software. Prepare real NTR and T2 corporate tax returns from start to finish. Free T2 trial software for practice.


online

Online Courses

Online training includes hundreds of topic-by-topic videos, real case studies, practice cases, reading material and valuable resources


Instructor

Talk to Expert CPA

Communicate directly with the course instructor by asking questions throughout the course. Click here to view Instructor's Profile


one-on-one training

One-on-One Session

Schedule 1-on-1 Live Skype Sessions to discuss any Question with an Expert CPA


ondemand

On-Demand

Unlimited One Year Access 24/7/365. Study at your own pace, when you want and at your convenience


Expert-presenters

Proven Reputation

 Over 94% of our students highly recommend us to other students.Our student satisfaction is 100%.


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Unlimited Support

Unlimited Email, Text/SMS, Short Phone Calls, and Onsite Chat Support

realworld p

Real Client Files

Practice Real Client Cases on the Software with Detailed In-Depth Solutions

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CPD Certificates

Earn Verifiable CPD Hours for CPAs




Get the practical skills that will set you apart on interviews, resume and on the job!



Our CPA Educator:

Learn from the expert and qualified trainer:


Instructor's Profile

Over 12 years of experience in Canadian Domestic and International Taxation

Work Experience
      • Currently a Senior Tax Manager at one of the Big7 firms in GTA
      • Previously a Tax Manager at PwC Canada
Qualifications and Designations
      • Chartered Professional Accountant (CPA) 
      • Chartered Accountant (CA) 
      • CPA In-Depth Tax (Level 1, 2 and 3)
      • CPA In-Depth International Tax
      • BBA from University of Toronto
Teaching experience
      • Seminar Leader/instructor at the CPA for Professional Development courses
      • Instructor at the CPA for In-depth Tax program (Year 1 and 2) Group Study and In-residence
      • Instructor at the CPA for Professional Education Program (CPA PEP) courses and modules
      • Instructor at the CPA for CPA Preparatory Courses courses and modules
      • Instructor at the CPA for Capstone 1 and 2 workshops
I have over twelve years of experience in 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