Corporate Tax Preparation Using CCH Taxprep

This course provides participants with practical knowledge of preparing Canadian corporate tax returns with the use of CCH TaxPrep. This is a case-based course that deals with practical issues, and deal directly with the corporate tax return, the forms and schedules utilized in the preparation of such returns.

Why take this course with HTKAcademy?

  • Served over 20,000+ CPAs and Aspiring CPAs Since 2012 
  • Developed a reputation of being the most reliable practical training providers
  • Most comprehensive practical training 
  • Practical tips are provided throughout the course that will assist you with future clients
  • Research is required not just for students and academics, but for all professionals. This course will provide you with research tips and tools.

Online Course

  • You can watch a webinar version of this course anywhere, anytime. 
  • One-year access from the date of registration.
  • Available year-round to fit your schedule.
  • Includes one-on-one session for 1 hour with the instructor.
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Who is this course for?

  • CPA Students
  • CPA Professionals working in accounting firms
  • CPA Professionals working in Industry
  • Bookkeepers or other professionals looking to provide Canadian Corporate tax training
  • Foreign trained accountants looking to develop Canadian experience

What Will I Learn?

High Level

  • How Canadian corporate taxation works from a big picture perspective
  • How to prepare a complete corporate tax return on CCH TaxPrep (Complete tax return that can be filed with the CRA)
  • How to obtain E-file number and file a tax return
  • How to perform research on tax topics using Canada Revenue Agency (CRA) resources​
  • How to perform research on tax topics using HTKAcademy resources
  • How additions and deductions are made to Accounting Income (Most comprehensive list)
  • How to report dividends received and paid from and by a corporation
  • How to report capital gains & losses on disposition of capital property such as shares, building, vehicles, etc

Specialized Topics

  • How to request a non-capital and net-capital loss carry back/forward
  • How to report capital dividends and prepare elections using TaxPrep
  • How to record additions and disposition of eligible capital property and calculate CECA (Pre-2017 taxation year)​
  • Part IV tax, refundable dividend tax on hand, Part I refundable tax
  • Small business rate, aggregate investment income rate, general rate
  • Associated Corporations and sharing of small business rate
  • High level understanding of AOC, Amalgamations, wind-up, rollovers - Resources provided on them

Course Outline

1. Overview of the Corporate Taxation system in Canada (Overview)

  • Download a software - CCH Taxprep
  • How corporate tax works at a CPA Firm (from bookkeeping to T2 Returns) – the workflow
  • Commonly used tax terms and abbreviations
  • Overall tax framework
  • Types of business entities
  • Corporate residency
  • Who needs to file a Corporate Tax Return (T2)?
  • Types of corporation for tax purposes | CCPC's, Private, Public, NPO
  • Tax Rate for corporations

2. Schedules and topics covered in practical case

  • Students will follow an instructor to prepare a complete tax return on CCH Tax Prep.
Topic(s)T2 Form Code(s)

Entering Client Information

ID
Entering Accounting Financial Statement data (Balance Sheet, Income Statement, Statement of Retained Earnings, and Notes to F/S, opening balance sheet)GIFI – G100, G125, G140, G141, G101
Calculation of Income for Tax Purposes from Accounting IncomeSchedule 1
Charitable DonationsSchedule 2
Capital Gains/Capital LossesSchedule 6
Capital Cost Allowance (CCA)Schedule 8
Cumulative Eligible Capital Amount (CECA) – Pre-2017Schedule 10 (Pre-2017)
ReservesSchedule 13
Division C Deductions to get to Taxable Income 
Dividends Received from Canadian Resident Corporations and Part IV TaxSchedule 3
Charitable DonationsSchedule 2
Non/Net Capital LossesSchedule 4/4N
Dividends Paid by the Corporation and Dividend RefundSchedule 3
Check Total Tax PayableJacket (J)
Other Forms 
Multiple JurisdictionsSchedule 5
Aggregate Investment Income & Active Business IncomeSchedule 7
Associated CorporationsSchedule 9
PensionsSchedule 15
SBD Limit sharing amongst associated corporationsSchedule 23
First time after incorporationSchedule 24
Shareholder information formSchedule 50
InstallmentsIFED
Corporation Information Annual Return for OntarioSchedule 546

1. Administrative and other matters

  • Practical Tips for all the schedules
  • Identifying mistakes and fixing them on the T2
  • Obtaining E-file number
  • Research tools
  • Instalments
  • Penalties and interest
  • Foreign forms - T1135, T1134, T106
  • Electronically filing the tax return
  • Paper filing the tax return

Course Instructors

Haroon Khan, CPA, CA, CPA (Illinois)

Haroon Khan is an experienced tax professional, having served over 10 years at the world’s leading accounting firms, including the Big 4, in the role of Senior Tax Manager and Tax Director. 

Pricing & Registration

Online License

Access to course lessons for one year
$399.99
$ 99
99 1 Year
  • Unlimited access for one-year do you can learn at your own pace
  • Access to course material + cases.
  • Additional cases to practice on your own.
  • One-on-one 30 minute phone call or video conference to answer any questions.

Questions?

Toll-Free Phone: + 1 800 870 5963
MON-FRI 09:00 AM to 7:00 PM EDT

SAT-SUN 09:00 AM to 7:00 PM EDT