Personal TaxPrep - Software Training

COURSE OVERVIEW:

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

This is a case-based course that deals with practical issues, and deal directly with the personal 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 Personal Taxation system in Canada (Overview)
  2. How to Navigate through Canadian Personal Tax Prep – STARTING STEPS
  3. How to prepare your own tax return (student tax return) – case #1
  4. Walkthrough of case #2 - Full-time Residency Case
  5. Topic(s) T1 Form Code(s)
    Entering Client Information ID
    Understanding and reporting the common types of income (other than self-employed/business income) – Total Income
    Reporting Income where T-Slips are issued  
    Employment Income T4
    Income from trusts and mutual funds T3
    Investment Income T5
    Statement of Pension, Retirement and Other Income T4A
    Partnership Income T5013
    Reporting Income where T-Slips are not Issued  
    Other employment income (tips and employment income under $500) J104
    Universal Child Care Benefit – to be reported by lower income spouse RC62
    Other Investment Income Schedule 4
    Capital gains (or losses) Schedule 3
    Deductions to arrive at Net Income  
    RRSP contribution deduction RRSP/T1028
    Annual union/professional dues (not reported on T4) J212
    Carrying charges and interest expense to earn property income Schedule 4
    Child Care Expenses – to be reported by the lower income spouse T778/CARE
    Rental Income T776
    Statement of business income/self-employment income T2125
    Division C Deduction – Arriving at Taxable Income  
    Non-capital and net-capital loss carryforward LOSSC
    Non-Refundable Tax Credits – The ones you need to do manually  
    Charitable Donations DONATIONS
    Child Amount Sch. 1/FAM
    Spousal Amount Schedule 1
    Public Transit Schedule 1 – 364
    Children’s Fitness Credit Schedule 1 – 365
    Children’s Arts Credit Schedule 1 – 370
    Interest paid on student loan Schedule 1 – 319
    Tuition, Education and Textbook amount (and transfers to parent) Schedule 11/T2202A
    Other Forms  
    Foreign Income Verification Statement T1135
  6. How to Navigate through Canadian Personal TaxPrep – FINISHING STEPS
  7. Administrative Matters
  8. Case #3 – Full Year Residency Case– To be done by students
  9. Walkthrough of small specific issues cases
  10. Tax Planning Discussion
  11. Q&A Session
  12. Resume Tips and Critique

FREQUENTLY ASKED QUESTIONS

WHATS MAKES HTKCONSULTING DIFFERENT?

Our TaxPrep Personal course goes beyond just teaching students on how to use TaxPrep. We have used our extensive background in personal 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 how to prepare tax returns for different types of taxpayers (students, family, full-year resident, part year resident, and seniors).

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 the steps and schedules involved. The beauty of these cases are that they contain all the notable personal 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 personal 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 Personal TaxPrep. Personal TaxPrep is used by most Chartered Accounting (CA) and Certified General Accounting (CGA) Firms in Canada.

If you want to learn more about Personal 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 $275. 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.