Featured Course: Tax Preparation for Proprietorships

Unincorporated small businesses have unique tax preparation and planning requirements. Provide superior service to a broad range of proprietorship clients including sole proprietors, partnerships, farmers, fishermen, and professionals. Learn how to complete income statements, capital cost allowance schedules, auto and home workspace schedules, and other unique calculations specific to the profile using the most recent tax laws and budget proposals.

"I appreciated the wide range of topics that the course covered. This course has been very helpful in preparing me for the upcoming tax season and in better serving my clients. It has also helped me with my own plans for my bookkeeping business. The EverGreen notes are so helpful!" – Wendy M., BC

PROGRAM: Tax Services Specialist

Unincorporated small business returns are increasingly in demand as an aging demographic moves from full-time employment to self-employment as a way to leverage time and money.

CONTENT DESCRIPTION AND KEY CONCEPTS:

This course is designed to teach professional advisors tax preparation for proprietorships, using CRA's prescribed forms: Statement of Business or Professional Activities, Capital Cost Allowance statements, worksheets for reporting home office, automobiles, other assets, inventory control, and cost of goods sold. Students may use their own tax preparation software to complete the course. For those without tax preparation software, student versions of Intuit's ProFile T1 and Dr Tax's DT Max T1 software are provided with the course.

CERTIFIED SKILLSETS

Students will learn specifically how to complete the income statement for the self-employed, partnerships, farmers, fishermen and professionals, using the most recent tax laws and budget proposals so that taxpayers arrange affairs within the framework of the law to pay the least taxes possible. Case studies, featuring a variety of unincorporated business enterprises, enable a thorough understanding of the tax preparation and planning options available to the unincorporated small business owner including income splitting with family members and the building of both revenues and equity for future tax advantages.

KNOWLEDGE BUREAU TOOLS INCLUDED:

• EverGreen Explanatory Notes
• Knowledge Bureau Calculators
  • Income Tax Estimator
  • Marginal Tax Rate Calculator
  • Registered vs. Non-Registered Savings Calculator
• Business Asset Tracker
• Electronic Auto Log
• Auto Log Summary/Auto Expense Worksheet
• Business Plan
• Daily Business Journal
• CCA Schedule
• Home Workspace Calculator
• Clawback Thresholds Calculator
• Income Splitting Worksheet
• Essential Tax Facts Sheets

MARKS ALLOCATION: