Corporate TaxPrep - Software Training

WHY SHOULD I LEARN CORPORATE TAXPREP?

Knowledge of corporate tax preparation is a key skill to have for any accountant looking to make the next step in his or her career. Many students are taught the theory behind corporate tax at University. They learned notable topics such as Capital Cost Allowance, Refundable Dividend Tax On Hand, Capital Dividend Account, and the list goes on. However, what we have noticed is that when it comes to applying these topics and preparing a tax return from top to bottom, they have difficulties.

Majority of Chartered Accounting (CA) and Certified General Accounting (CGA) firms use TaxPrep. Having experience and condifence in Corporate TaxPrep will make you more marketable in today’s competitive job market. It will significantly increase your chances of landing an interview and land a job.

COURSE OVERVIEW:

This course provides participants with practical knowledge of preparing Canadian corporate tax returns with the use of CCH TaxPrep.

This is a case-based course that deals with practical issues, and deal directly with the corporate tax return, the forms and schedules utilized in preparation of such returns.

LEARNING OBJECTIVES:

PREREQUISITES:

No prerequisites required.

COURSE MATERIAL:

Computer and software(software will be provided in class)

OUR COURSE OUTLINE:

  1. Overview of the Corporate Taxation system in Canada (Overview)
  2. How to navigate through CCH Corporate TaxPrep - Initial Steps
  3. Overview of our 7 Step Approach to preparing any corporate tax return
  4. Walkthrough of Case #1 ABC Incorporated
  5. Topic(s) T2 Form Code(s)
    Entering Client Information ID
    Entering Accounting Financial Statement data (Balance Sheet, Income Statement, Statement of Retained Earnings, and Notes to F/S) GIFI – G100, G125, G140, G141
    Calculation of Income for Tax Purposes from Accounting Income Schedule 1
    Charitable Donations Schedule 2
    Capital Gains/Capital Losses Schedule 6
    Capital Cost Allowance (CCA) Schedule 8
    Cumulative Eligible Capital Amount (CECA) Schedule 10
    Reserves Schedule 13
    Manual Additions and Deductions Schedule 1
    Division C Deductions to get to Taxable Income  
    Dividends Received from Canadian Resident Corporations and Part IV Tax Schedule 3
    Charitable Donations Schedule 2
    Non/Net Capital Losses Schedule 4/4N
    Dividends Paid by the Corporation and Dividend Refund Schedule 3
    Check Total Tax Payable Jacket (J)
    Other Forms  
    First time after incorporation Schedule 24
    Shareholder information form Schedule 50
    Installments IFED
    Corporation Information Annual Return for Ontario Schedule 546
  6. How to Navigate through Canadian Corporate Tax Prep – FINISHING STEPS
  7. Administrative Matters
  8. Case #2 Fun Electronics – To be done by students
  9. Tax Planning Discussion
  10. Q&A Session
  11. Resume Tips and Critique

FREQUENTLY ASKED QUESTIONS

WHATS MAKES HTKCONSULTING DIFFERENT?

Our TaxPrep Corporate course goes beyond just teaching students on how to use Tax Prep. We have used our extensive background in corporate tax preparation to design real-life case simulations, which our students will have an opportunity to go through in our class. Our students will follow along on their laptops as we demonstrate our “7 Step Approach” to Corporate Tax Preparation. In this process we will cover everything from filling out your client’s info, GIFI schedules, Schedule 1 Additions and Deductions, Corporate Dividends, Corporate Donations, Capital Cost Allowance, Capital Gains, Capital Dividend Account, Reserves, Ontario Tax, Admin Matters along with many more topics.

In addition, our students will also have an opportunity to try another real-life simulation case all by themselves, while our instructors provide supervision. This we believe, will give students an opportunity to put into practice what they have learned and become more familiar with our “7-step approach”. The beauty of these cases are that they contain all the notable corporate tax topics that an entry level accountant will face, so you could be confident going into the field.

We are big believers in excellent customer service, at the end of every class we provide resume tips and allow a student to re-attend a corporate tax class free of charge! We are also more than happy to help answer any questions you may have as you practice our cases at home.

WHAT SOFTWARE DO WE USE?

We train students using Corporate TaxPrep. Corporate TaxPrep is “canada’s most comprehensive T2 tax return software program for preparing federal and provincial tax forms and tools designed to simplify complex preparation requirements” and it is used by most Chartered Accounting (CA) and Certified General Accounting (CGA) Firms in Canada.

If you want to learn more about Corporate TaxPrep please click here

WHAT ARE THE QUALIFICATIONS OF THE INSTRUCTORS?

Training will be conducted by designated professional accountants with a lot of practical experience in big 4 and small professional accounting firms.

HOW MUCH DOES IT COST?

The cost is $300. Group course/student packages are also available at 20% discount. At HTKConsulting we are big believers that money should not stop you from learning, and accordingly we provide special discount to people with financial needs.

WHAT IS THE DURATION OF THE COURSE?

Most of our classes have a duration of 1 complete day i.e. (9am – 5pm)

WHEN ARE THE CLASSES HELD?

The classes are usually held on the weekends

HOW DO I ENROLL FOR THE COURSE?

You have to send us an email at info@htkconsulting.com, call us or submit an online form

HOW DO I PAY?

We accept cash, paypal, and interac e-transfer, and the payment is due on the day of class

CAN I RE-ATTEND THE SESSION?

Yes, you can re-attend the session for FREE

WHAT DO I NEED FOR THE COURSE?

You will need the laptop (If you do not have a laptop, we will provide you with one in class)

WILL YOU PROVIDE CAREER TIPS?

Yes at the end of each session we provide students with the resume tips and career advice.

DO I GET A CERTIFICATE?

Yes, you will be provided with an official HTK Consulting certificate of completion at the end of each session.