Sneak Peek! Add Tax Consultancy to Your Services

As the owner-manager of a thriving tax preparation, bookkeeping, accounting or financial services practice, your future success is dependent upon the knowledge and skills of your team, especially with technological advances. It's time to go beyond the basics and learn more about providing tax consultancy services. The newly updated Intermediate Personal Tax Preparation can help!

Now that the prime part of tax filing season has come to a close, it’s time to invest in training opportunities that position your firm for the future, and in particular, for the 2018 tax compliance season.  The training is critical for both you and your staff and can help with accreditation for professional standards.

Take a special “Sneak Peek” to learn more about the details behind the process of claiming income, deductions and tax credits on the personal tax return.  The key benefit:  you’ll find ways to find “new money” for tax efficient savings, because you have positioned your clients to receive all the tax deductions and credits – refundable and non-refundable - possible.

Enroll in the full course this summer to enhance these skills and implement them immediately.  You’ll learn with practical  true-to-life case studies, which our students say is integral to their success.

“Very thorough information. I thought the case studies were very typical of the majority of our tax prep business. They were well presented with just enough complexity thrown in to be a little challenging… —Phyllis M (Manitoba)

Do it at the beach or cottage - all instruction is online, and with caring instructors available to assist, you're never alone.

After taking a free trial, the full 30-hour course can be started anytime and, with three months to complete the program, you and your team members have the flexibility to expand their knowledge in a variety of tax consultancy services. Once they’ve completed the Intermediate Personal Tax Preparation, they’ll have increased competencies in the following areas:

TABLE OF CONTENTS

Chapter 1:  Introduction to Income Taxation in Canada
Introduction: Who is taxed?; Residency; Canadian-source Income; What is taxed and what is not; Exempt Income; Employment Income; Income from Property; Capital Gains; Self-Employment; Other Income; Adventures and Concerns in the Nature of Trade ; Compliance: How the system works; Filing Requirements: Self-Assessment; Information Slips; Self-Reporting; Documentation; Filing Structure: Total Income; Net Income and Clawbacks; Taxable Income; Non-refundable Credits; Calculation of Tax; Refundable Credits

Chapter 2:  Using Software to Prepare the Return
Taxpayer Identification; Source Documents; Data Entry – T-slips and Income; Claiming Deductions; Maximizing Credits; Checking for Accuracy; Audit Proofing

Chapter 3:  Filing the Return
EFILE; Registering for Electronic Filing; T183 – Authorization to EFILE; T1013 – Representing the Client; Filing the Return; Acknowledgement and error correction; Paper Filing; When paper filing is allowed; What to print; Assembly of CRA copy; Client signatures; Client copy; Revising Returns; Penalties

Chapter 4:  Low Income and Credit Filers
GST/HST Credit; Canada Child Benefit; Working Income Tax Supplement; Refundable Medical Expense Supplement

Chapter 5:  Reporting Employment Income
T4 slips; Other Employment Income; Employment or Self-employment?; Canada Pension Plan Contributions; Employment Insurance Premiums; Tax Withholding; Taxable Benefits; Non-refundable credits

Chapter 6:  Claiming Employment Deductions
Employment Expenses; RPPs and RRSPs; Child Care Expenses; Moving Expenses; Truckers and Others; Severance and Unemployment

Chapter 7:  Families and Children
Spouses; Children; Students; Medical Expenses; The Sick and Disabled; Charitable Donations; Relationship Breakdown

Chapter 8:  Reporting Investment Income
Interest; Dividends; Capital Gains; Attribution Rules; Personal Residences; Rental Property; Investment Expenses

Chapter 9:  Pensioners
OAS Reform; Additional CPP Contributions; Private Pensions; Pension Income Splitting; Non-refundable Credits for Pensioners; Home Accessibility Tax Credit

Chapter 10: New for 2016 and Beyond
Indexation; Federal Personal Amounts for 2016 to 2017; Budgets; Previously Announced Measures

Credits earned by taking this course can be applied towards the Distinguished Financial Advisor – Tax Services Specialist designation. Remember ... you can enrol completely risk free. Bonus ... when you start a free trial you can also earn two CE/CPD credits upon completion. Further, if you enroll in the full course or designation before June 15, you can save on the tax-deductible tuition fees!

Prefer in class studies? Don’t forget to mark your calendar for Knowledge Bureau’s live events – the CE Summits, that can help you lead your team towards enhanced educational opportunities that will help their careers and your business. It’s the perfect train-the-trainer program; one that let’s you ask questions of expert instructors, too. Registration ends May 28.

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