Advanced Tax Filing and Planning
Categories: Tax Planning
Program: Tax Services Specialist
Fully updated to the latest Budget. This comprehensive course covers the details behind the deductions, tax credits and tax calculations on the personal tax return with an emphasis on capital gains and losses, and registered and non-registered investment income sources. It overviews common and advanced client profiles, while sending students to the dynamic commentary in EverGreen Explanatory Notes by The Knowledge Bureau.
CONTENT DESCRIPTION AND KEY CONCEPTS:
We recommend that Knowledge Bureau's Personal Tax Filing and Planning course be completed before enrolling in T1 Professional Tax Preparation – Advanced or, at minimum, the student have prior experience with personal tax filing.
Students may use their own tax preparation software to complete the course. For those without tax preparation software, student versions of Intuit's ProFile Premier, Dr Tax's DT Max and TaxCycle are provided with the course. Case studies preparing returns will be done using income tax preparation software while scenarios involving future returns will be completed using the Income Tax Estimator from the Knowledge Bureau Toolkit.
CERTIFIED SKILLSETS: The student will be exposed to a broad range of personal income tax topics in common and advanced scenarios, each featuring short answer and true-to-life case studies which overview the basic elements of the tax return and the details behind claiming income, deductions and tax credits on most lines of the personal tax return. The student will be able to competently prepare most personal tax returns.
The most highly professional tax practitioners are those who have excellent investigative skills (conducting the most exhaustive client interviews) and the best research skills (knowing when and where to look for help). We'll show you how to do both and give you the most leading-edge tools in the marketplace to do so.
This comprehensive self study course features case studies that require research exercises using EverGreen Explanatory Notes focusing in on the details behind employment deductions, investment income reporting, capital acquisitions and dispositions, including real property and real life applications and variations. Students will review their theoretical competencies and will also be required to know the details of three Appendices:
- T-Slip Guide
- Line by Line Tax Forms Review
- Line by Line Tax Update
KNOWLEDGE BUREAU TOOLS INCLUDED:
Knowledge Bureau Calculators
- Tax Return Estimator
- CPP Income Calculator
A mark of 60% is required to pass the course. All students who pass the course will receive a certificate. Students who receive a mark of 90% or better will receive gold honours bars on their certificates.