It’s Not Too Late - February 26 in Depth Tax School

Please join Evelyn Jacks and guest Faculty members for a virtual mini-summit February 26 for an in depth Tax School for tax and financial professionals. 

This is your opportunity to get the most current update on changes, tips and traps on 40 important and newly updated auxiliary tax forms required to properly complete the T1.  Brush up on theory to confidently prepare returns and answer tax planning questions.  Take a look at the agenda below; then enrol online.  Or call for assistance:  1-866-953-4769.  Can’t make the live event?  Sign up for the recorded session and the accompanying course materials.  Earn CE Credits, too.

FEBRUARY 26 FILING SMALL BUSINESS RETURNS 

Tax Planning – The Big Picture - Claiming Income and Losses

• Claiming business losses against other income
• Creating income/losses with CCA and other options provisions
• T1A Loss Carry Back

Form T2125 - Reporting Income from a Business

• T2125 Statement of Business or Professional Activities
• Small Suppliers – No GST
• GST Remitters

Claiming Deductions

• General Rules
• Restricted Expenses:  Meals and Entertainment, Home Office, Conventions, Communications Devices, etc.
• Paying Family Members

Claiming Capital Cost Allowance

• General Rules
• Immediate Expensing Rules
• Accelerated investment Incentives
• Automobile Expenses
• Claiming Recapture and Terminal Losses

Filing for Farmers

• T2042, Statement of Farming Activities
• AgriStability and AgriInvest Forms T1163, T1164, T1273, or T1274
• T2043 Return of Fuel Charge Proceeds to Farmers Tax Credit
• Mandatory and Optional Inventory Provisions
• Prescribed Drought Areas – Livestock Tax Deferral
• T2203 Provincial and Territorial Taxes for Multiple Jurisdictions
• Claiming Losses

Filing for Fishers

• T2121 Statement of Fishing Activities
• T1139 Reconciliation of  Business Income for Tax Purposes

Tax Remittances and Audits

• CEWS audits and RC683 Refund Verification Programs

Remember:  enrol online.  Or call for assistance:  1-866-953-4769.