Start the Tax Season With T1 Professional Tax Preparation - Basic

From a tax and financial planner’s point of view, it is critical to know the mechanics of tax preparation as a prerequisite to tax-efficient financial planning. If you don’t know tax, you’re missing double digit returns in your plans for real wealth management with your clients.

Knowledge Bureau’s T1 Professional Tax Preparation – Basic course, available online, introduces its students to a proven process for consistently accurate T1 tax preparation services, including a professional client interview and documentation management system. The course also provides 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.

Knowledge Bureau graduate Diane Tucker said she would recommend this course to others.

“I will be working for a financial planning firm during tax time this year and feel confident now that I will be of value in what I learned from this course, my ability to manoeuvre through the tax program with more ease, and ability to access info through different venues.”

The course is perfect for new owner-managers in the tax preparation business, who require an in-office train-the-trainer-and-the-student option. It is also perfect for new entrants into the tax preparation market, including new seasonal staff in a busy tax accounting office and newcomers to Canada with background and interest in tax accounting.

The course will train you and your staff on tax preparation services and includes the latest tax changes for the 2015 and 2016 tax years, including changes introduced by the new Liberal government. Included are the most recently available “student” versions of professional tax preparation software from popular vendors, together with a student subscription to EverGreen Explanatory Notes – an online tax research software (student version) to keep you up-to-date with tax changes. Tax estimations for multiple years are prepared using the Income Tax Estimator tool from the Knowledge Bureau Toolkit.

The student will be exposed to a broad range of personal income tax topics in common scenarios. Each one features short answers and true-to-life case studies, which provide an overview of 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.

“Any tax practitioner would benefit from the concepts taught,” said Knowledge Bureau graduate Harry Lamb. “Too many tax professionals encourage their clients to think a large tax refund is desirable, thereby doing them a disservice. This course corrects that misconception.”

The T1 Professional Tax Preparation – Basic course is a component of the Distinguished Financial Advisor^TM – Tax Services Specialist designation. The updated version of the course will be released Feb. 20, 2016.

For more information about the T1 Professional Tax Preparation – Basic course, click here.

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