Preparing Form 1040, U.S. Individual Income Tax Return
This course provides participants with practical knowledge of preparing Canadian personal tax returns with the use of CCH TaxPrep. This is a case-based course that deals with practical issues, and deal directly with the personal tax return, the forms and schedules utilized in the preparation of such returns.
Online Course Information:
- 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.
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Who is this course for?
- How Canadian corporate taxation works from a big picture perspective
- An understanding of common tax terms and acronyms
- How to prepare a complete corporate tax return on CCH TaxPrep using our 7-Step approach
- How additions and deductions are made to Accounting Income and the most common additions/deductions staff accountants will see
- 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…
What Will I Learn?
General Topics
- How Canadian corporate taxation works from a big picture perspective
- An understanding of common tax terms and acronyms
- How to prepare a complete corporate tax return on CCH TaxPrep using our 7-Step approach
- How additions and deductions are made to Accounting Income and the most common additions/deductions staff accountants will see
- 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 using TaxPrep
- How to record additions and disposition of capital assets and calculate CCA
- How to record additions and disposition of eligible capital property and calculate CECA
- How to perform basic tax planning using TaxPrep
Course Outline
1. Overview of the Corporate Taxation system in Canada (Overview)
- How corporate tax works at a CA Firm (from bookkeeping to T2 Returns) – the workflow
- Overall tax framework (Division B, Division C)
- Commonly used tax terms and abbreviations
- Corporate residency
- Who needs to file a Corporate Tax Return (T2)?
- Types of corporation for tax purposes | CCPC's, Private, Public, NPO
2. How to navigate through CCH Corporate TaxPrep – Initial Steps
- How corporate tax works at a CA Firm (from bookkeeping to T2 Returns) – the workflow
- How to request a non-capital and net-capital loss carry back/forward
- How to report capital dividends using TaxPrep
- How to record additions and disposition of capital assets and calculate CCA
- How to record additions and disposition of eligible capital property and calculate CECA
- How to perform basic tax planning using TaxPrep
FAQs
1. Question #1
- How corporate tax works at a CA Firm (from bookkeeping to T2 Returns) – the workflow
2. Question #2
- How corporate tax works at a CA Firm (from bookkeeping to T2 Returns) – the workflow
3. Question #3
- How corporate tax works at a CA Firm (from bookkeeping to T2 Returns) – the workflow
4. Question #4
- How corporate tax works at a CA Firm (from bookkeeping to T2 Returns) – the workflow
5. Question #5
- How corporate tax works at a CA Firm (from bookkeeping to T2 Returns) – the workflow
6. Question #6
- How corporate tax works at a CA Firm (from bookkeeping to T2 Returns) – the workflow
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.