This course is organized and delivered in six modules designed to provide you with a wide depth of the practical issues you will encounter in your corporate tax practice. Case examples will be provided to take you through the T2 preparation process from start to finish. The course is presented using the following approach and methodology:
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Preparation Tips, Tricks & Traps – Best practices and methodologies on reporting and completing the corporate tax returns covering areas that are often overlooked or misunderstood by many practitioners
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Tax Advisory & Problem Solving – How to deal with common and risky situations that do not have easy answers or solutions. CRA guidelines and a number of Court Cases are analyzed and presented to help you formulate a filing position that can be defended at the highest level on any tax return you prepare.
The following is a synopsis of the modules and topics covered in this course:
T2 Return Preparation & Compilations – We begin by examining the T2 preparation process with a review of the relevant schedules including useful preparation checklists. An examination of common filing scenarios and issues will be discussed.
Investment & Passive Income Regime – Finally understand the complexities and nuances of the relatively new RDTOH and passive income regime. Real world examples and planning scenarios will be discussed to apply these rules to common client situations.
Owner-manager Compensation & Planning – You cannot separate corporate tax preparation of small business owners from their compensation options and decisions. An in-depth look at some of the challenges and opportunities in tax-minimization strategies and the decision-making process.
A good understanding of corporate/personal tax concepts and preparation is required for this course. We will not be discussing any fundamentals unless they are pertinent to the topic being discussed at which point they will be quickly reviewed.