Taxes for Proprietorships:  Learn About Lucrative Tax Savings

Filing tax returns for unincorporated small businesses is in growing demand. Whether retirees are going back to market as consultants or Millennials are choosing to be their own boss, demographic changes are increasingly pointing to a shift from full-time employment to self-employment as a way to leverage time and money. For advisors, learning tax preparation for proprietors is a worthwhile investment.

Knowledge Bureau’s T1 Tax Preparation – Proprietorships course - part of the Tax Services Specialist-Distinguished Financial Advisor designation - is designed to teach the professional skill of tax preparation for proprietorships, using CRA’s prescribed forms and professional software; student versions of Intuit’s ProFile Software Suite, Dr Tax’s DT Max, and TaxCycle Suite, are provided with the course.  Students may also use their own tax preparation software to complete the course.

Learn how to skillfully prepare the Statement of Business or Professional Activities, Capital Cost Allowance statements, worksheets for reporting home office, automobiles, other assets, inventory control, and cost of goods sold.

Coverage includes preparing income statements for several different business profiles (including proprietorships, partnerships, farmers, fishermen, and professionals), using the most recent tax laws and budget proposals to help taxpayers arrange their affairs to pay the least taxes possible within the framework of the law. Students will also learn how to prepare and file the GST Return and the T4 Summary Return and slips.

True-to-life case studies featuring a variety of unincorporated business enterprises enable a thorough understanding of the tax preparation and planning options available to the unincorporated small business owner, including income splitting with family members and the building of both revenues and equity for future tax advantages.

For more information about the T1 Tax Preparation – Proprietorships course, click here.  For those who want to go on to learn how to do simple T2 (corporate) tax returns, consider this certificate course, too:  T2 Corporate Tax Preparation for Micro Businesses.

What Our Students Say:

“This course is very valuable to any financial planner. They will learn material they only 'thought' they knew. Any CFP will learn something valuable in this course.” James H., ON

“I appreciated the wide range of topics that the course covered. This course has been very helpful in preparing me for the upcoming tax season and in better serving my clients. It has also helped me with my own plans for my bookkeeping business. The EverGreen notes are so helpful! I appreciated how promptly you have addressed my concerns.” Wendy M., BC

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