CORPORATE TAX
Corporate Tax Training Path
Ideal if you are looking to start a career in corporate tax preparation & advisory or CPA's looking for CPD hours
Phase 1 - Corporate T2 Tax Returns for Small Business - Introduction
Start with the fundamentals of preparing T2 returns and advising small corporate owner-managed businesses
1 - Foundations
Corporate tax is a challenging field but the road to mastery starts with a solid understanding of the corporate tax system and owner-managed enterprises (small incorporated businesses). Once you have completed this course, you will be able to prepare T2 returns and related return schedules for small incorporated business enterprises. To help you practice, the course includes 5 case studies. Look over the shoulder of an accountant as he takes you through the process of preparing T2's
2 - Salary or Dividends?
Corporate tax preparation is not just about preparing the T2 tax return. You will also have to decide how to pay the shareholders of a corporation. In this course we dig deep into the compensation strategies. Should you pay salary to the owner or dividends? It's not as easy as you might think. This course gives through the thought process to follow. It also takes you through the logistics what you need to file with CRA
Phase 2 - Build on the Foundations with Critical Knowledge
You can't prepare and file T2 corporate tax returns without having to file GST/HST returns as well. Start your journey into more intermediate areas you will encounter with the study of investment income earned in corporations (including how to hand holding companies).
4 - Demystify Complexity
One of the most feared and complicated area of corporate tax is the taxation of investment income earned in corporations. This course demystifies and simplifies this nuanced and often misunderstood area. You will understand concepts such as GRIP, SIB, ERDTOH & NERDTOH once and for all. This will help you prepare corporate tax returns for investment and holding companies
3 - Hand-in-Hand GST/HST
It's not just about the Income Tax Act. You'll also be expected to prepare GST/HST returns for clients. You cannot be in tax practice without having a solid grasp of the GST/HST as it applies to businesses (both personal and corporate) and non-residential rental properties. Note: This is the same course as the one in the Personal Tax Learning path as the GST/HST applies to all business types
Phase 3 - Business Advisory & Dealing with Corporate Groups
Your knowledge-base grows as you learn what is involved in preparing tax and trust returns for clients who have passed away. Then, you can finish off with a great, fast-paced refresher on personal tax developed for CPA's
5 - Best Practices
6 - Case Studies & Examples
Keep on chipping away at critical knowledge by studying & understanding the entire process of advising clients on all corporate and related tax matters including best practices and methods used by professional accountants to advise clients on how to set up, run and minimize tax risk in their corporations. Everything you need to know to prepare client year-ends confidently
COMING SOON - Get behind the desk of a CPA practice by looking over the shoulder of a CPA as he takes you through a series of different corporate client scenarios and structures. You will have exposure to everything from a simple small business client, to a larger corporate group as we examine all the complexities and filing requirements. There are lots of nuances that you need to be aware of
Phase 5 - Manage a Tax Practice Efficiently & Profitably
You now have the personal tax knowledge (from our personal tax learning path) and the corporate tax skills to start your own practice. Let's dig into the behind-the-scenes operations of a tax practice so that you can build your own and ride the coat-tails of practitioners who have done it and succeeded.
Corporate File Preparation
You have the corporate tax knowledge to start your own practice. Now what? How do you put financial information together to create financial statements for clients? How will you receive data and records from your corporate clients and how to you create the necessary files and documents to file T2 returns? This course covers the preparation of financial statements and CPA compilation standards
COMING SOON
Tax Practice Management
COMING SOON - Now that you have the tax knowledge and know what documents you need and how to prepare financial statements and T2 returns, how do you run an efficient tax practice to make sure you get everything done on time and don't make any mistakes? How do you improve your productivity so you can accomplish more in 12 weeks that most firms and accountants do in 1year
COMING SOON