Introduction to Personal Income Tax
Tax Filing and Planning
By: Evelyn Jacks
PROGRAM: Tax Services Specialist
Income tax preparation is always timely; an essential service for families to obtain tax refunds, refundable tax credits and make tax-efficient investment decisions. In this comprehensive, yet easy-to-learn professional income tax course, learn using true-to-life case studies and student versions of professional income tax filing software. Learn how to use income tax provisions to the best benefit of each individual and the household as a whole, filing their income tax returns accurately and with confidence.
TAKE YOUR NEXT STEP: After you complete this course, check out Personal Income Tax Course - Advanced Level.
CONTENT DESCRIPTION AND KEY CONCEPTS.
This course introduces a proven process for consistently accurate T1 tax preparation services with a professional client interview and documentation management system, as well as a thorough understanding of tax preparation for the five anchor profiles upon which every personal tax return is based:
- credit filing,
- employees,
- families and children,
- investors and
- seniors.
The course is perfect for new owner-managers who require a train-the-trainer manual, as well as new entrants into the tax preparation market including new seasonal staff in a busy tax accounting office. The course will train your staff on tax preparation services and includes the latest tax changes. Professional tax preparation and research software (student version) is included as one of the course components.
CERTIFIED SKILLSETS: The student will be exposed to a broad range of personal income tax topics in common 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 basic personal tax returns.
METHODOLOGY:
The student prepares case studies using the income tax software of their choice and researches tax questions using EverGreen Explanatory Notes. For students who don't have their own software, student versions of ProFile, DRTax, and TaxCycle T1 software are available for download.
KNOWLEDGE BUREAU TOOLS INCLUDED:
Students will also use the following calculator from the Knowledge Bureau Toolkit to explore true-to-life scenarios for the current year:
- The Income Tax Estimator.
MARKS ALLOCATION:
| Quizzes | 25% |
| Case Studies | 50% |
| Final Exam | 25% |
| Passing Grade | 60% |
| Honours Achievement | 90% |
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 a gold Honours bar on their certificate.