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2020 T1 - Step-by-Step Guide Preparing T1 in Profile Tax

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


  • Preparing T1 - 7 Step Process
    7 mins
  • Identification and client information
    43 mins
  • Non-refundable tax credits
    89 mins
  • Medical Tax credits
    132 mins
  • Case Study 4 - Salary
    172 mins
  • Advanced issues - Capital gain reserve
    221 mins
  • Employment Expenses - T777
    254 mins
  • Recap - Preparing T1 - 7 Step Process
    294 mins

Course Description

Many times we experienced that there are very few things cause people more anxiety than income tax. Accountants and tax professionals also face challenges in negotiating the slippery slope of income tax preparations. This individual tax preparation webinar will provide a broad view of how to prepare income tax and certain issues in the case studies. The speaker will also touch on identifying and addressing the planning opportunities.

In this Tax CPE webinar the speaker is going to explore how to prepare a T1 personal tax return from start to finish. To cover this the webinar is going to delve into 15+ Case studies so there remain no essential area explored. (Preparing 2020 T1 Personal Tax Return using Profile Tax + 15 Case Studies)

This Individual Tax preparation webinar will cover the following important topics:

  • How to set up a new client file
  • How to create a family profile and identify possible planning opportunities
  • How to identify and claim non-refundable tax credits
  • How to input various T slips; employment income, investment income (interest, dividends) & other income
  • How to report deductions such as prof fees, carrying charges, child-care, moving expense and RRSP
  • How to report employment expenses
  • How to report self-employed business income and expenses
  • How to report rental income and expenses
  • How to amend T1 and request loss carry back

Recommended for:

This individual tax CPE webinar is recommended for any Professional or Staff Member Involved in Preparation or Review of various type of Tax returns.

Learning Objectives

  • To explore preparing T1 in a 7 step process
  • To take an in-depth review of Non-refundable Tax credits
  • To explore preparing T1 for Self-employed business, rental properties and investment income
  • To identify how to report QSBC shares and claim life time capital gain exemption
  • To recognize about RRSP and other deferred tax plans
  • To explore about childcare deductions, moving expenses, professional dues and support payment
  • To identify how to claim employment expenses and home office expenses
  • To recall how to carry back net capital loss - preparing form T1A

Who Should Attend?

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