CPE PACKAGES (Incl. Ethics) for Multiple States and Qualifications @ $4/credit. CLICK HERE to view.

2020 T2 Step-by-step Guide Preparing Corporate Tax Return using Profile Tax T2

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

Overview

  • Preparing Corporate Tax Return
    2 mins
  • Setting up Client Profile
    27 mins
  • Walkthrough - Client Identification General Information
    44 mins
  • Complete GIFI From Client's Financial Stmt
    68 mins
  • Complete Tax Schedules
    83 mins
  • Case Study 5 - Donations
    150 mins
  • Types of dividends
    184 mins
  • Non-eligible refundable dividend tax on hand
    207 mins
  • Summary of Jacket and Schedule 1 to 4
    271 mins
  • Schedule 7 of T2 Passive income and AII
    297 mins
  • Comprehensive Case on Passive income
    376 mins
  • Schedule 9, 23 and 50 of T2
    408 mins

Course Description

This online CPD webinar uses a step-by-step approach for preparing T2 tax returns using Profile T2 tax software for small businesses. This continuing professional development webinar provides CPAs with working/practical knowledge of preparing corporate tax returns for small businesses and CCPCs and various tax schedules commonly used. 

This Tax webinar for CPAs is rich with a number of case studies, practice cases, simulations, walk-through of real-client examples, and pdf slides. After attending this tax CPD course by the expert speaker from Big4CPA, CA the participants will be able to deal with practical issues and deal directly with the layout of the corporate tax return, the forms, and schedules utilized in the preparation of such returns. 

This online CPD webinar for CPAs covers the following Key Topics:

  • Preparing T2 – Sch. 200, Identification section and importing GIFI – Sch. 100, 125,141

  • Schedule 1 - Accounting income vs. Taxable income, deductible vs. non-deductible items

  • Schedule 2 - Charitable donations and gifts

  • Schedule 3 - Portfolio, connected and non-connected dividends received, Part IV tax, RDTOH, and Capital dividends

  • Schedule 4 - Capital and non-capital loss carryback request and loss carry forward 

  • Schedule 6 - Disposition of capital property i.e. shares, bonds, real estate; calculation of capital gain/loss

  • Schedule 7 - Aggregate investment income vs. Active Business Income; Additional refundable tax on passive income i.e. interest income & rental income 

  • Schedule 8 - CCA Classes, Calculation of CCA deduction, recapture, and terminal loss

  • Schedule 9 & 23 - Related and Associated Corporations; Sharing of SBD limit

  • Schedule 50 - Shareholder Information

*Demo Version of ProFile T2 software is included with the course* - T2 software is for study purposes only and can be used for practicing real-client case studies included in the course material and for hands-on learning.

This online CPD course will benefit CPA Members, CPA Students, and Professional Accountants who wish to expand or update their Canadian Corporate tax return preparation knowledge using Taxprep software.

Click to access webinars on Excel CPD Courses | QuickBooks Online for Accounting Professionals

Learning Objectives

  • To prepare a full set of corporate tax returns and various schedules/forms using Profile software
  • To explore more than 50 book-to-tax adjustments reported on schedule 1 of the T2 return. 
  • To identify how to set up Client Profile in Identification form and preparing GIFI Form (balance sheet and income statement)
  • To recognize how to account for related parties in Tax preparation i.e. Parent/Subsidiary relationship, control, association, sharing of SBD limit
  • To identify how to report dividends received from a connected and non-connected corporation in Profile T2
  • To explore how to report capital gains & losses on disposition of capital property such as shares, real estate, and ABIL.
  • To explore how to request tax loss carryback/forward & tax loss continuity of net capital losses & non-capital losses
  • To recall how to record capital dividends and determine CDA balance using Profile T2
  • To identify how to record additions and disposition of capital assets and calculate CCA
  • To recognize how to record additions and disposition of eligible capital property and calculate CECA
  • To recall how to account for investment income i.e. interest income, rental income, and foreign income
  • To explore several ways of performing tax planning using Profile Tax software

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Bookkeepers & Accountants & Tax Preparers
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA