Summer Time is the Right Time to Train as a Specialist

Good news!  It’s officially the farthest month between tax seasons, but time will march quickly on the journey towards 2024, when highly trained personal tax specialists will again be in high demand.  That’s why July is such a good month to commit to Knowledge Bureau’s Tax Training School, featuring the DMA™-Personal Tax Services Specialist program and its six professional courses, updated for 2023 tax filing requirements, and available for continuous intake now. 

The DMA™-Personal Tax Services Specialist Designation is especially for individuals who seek specialized credentials to work in the tax, accounting and bookkeeping industries as well as professionals looking to specialize in their field of expertise.

A highly skilled tax practitioner is a professional who understands CRA’s EFILE, NETFILE and File My Return, but brings so much more to the client relationship: the precise application of all the tax preferences the client is entitled to because a thorough client interview was conducted.

Be a trusted contributor to a multi-stakeholder approach in family wealth management. Offer high value advice on the best after-tax outcomes for multiple generations in a taxpayer’s family.

Train one person in six course program or as an alternative for tax services business owners, you can choose to train 3 people in 2 courses each, or 2 people in 3 courses each or 6 people in one course – all for the same reduced tuition fees.  Everything is included in those tax-deductible tuition fees:

• Personal program customization services
• Personal or virtual campus orientation
• Personal instructor support by email
• Lesson plans and Study Plans
• Comprehensive Knowledge Journal
• Evergreen Explanatory Notes – a full tax reference library
• True-to-life case studies and professional software applications prepare you with hands on training to serve clients with confidence
• Testing, certification, third party accreditation - all online in the comfort of home, office, the cottage - wherever!

Tax deductible Tuition fees (for individual students who pay for their own training)  Qualify for the tuition fee amount (any age) and the CTC - Canada Training Credit (must be between 26 and 65 years old).  Here’s an example of the net cost of fees:

Tuition Fees =               $3,990 plus GST (5%)      = $4,189.50

CTC Calculation =          Lesser of 50% of Tuition = $2,094.75 or $1000 (eligible per tax filings)

CTC Claim $1000 (Note - if no taxes payable, this $1,000 CTC is fully refundable when you file your tax return)

Plus Claim a Tuition Amount for the Remaining Fees:

Tuition Credit               $3,189.50  ($4,189.50 less CTC claimed $1,000 -T2202 required)

Tax benefit                   $765.50 ($3,189.50 x 24% - varies with province of residence)    

Total Tax benefit (Tuition amount plus CTC)      = $1,765.50 (42% of tuition fees payable)

Net cost of tuition         $4,189.50 - $1,765.50     = $2,424.00