Step-by-Step guide to Preparing T2 in Profile

$299

Step-by-Step guide to Preparing T2 in Profile

A step-by-step approach to preparing T2 tax returns using Profile T2 tax software for small businesses. This course includes 15 hours of training content including, but not limited to, more than 10 topic-by-topic videos, 15 case studies, practice cases, simulations, walk-through of real-client examples, textbook, pdf manual, presentation, slides and much more.

Demo Profile Tax software is included
CPD Verifiable Hrs: 10

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Most Comprehensive Online Course on Canadian Corporate Tax & T2 Return Preparation - Focus on CCPC, owner-manager and Small Businesses

START to FINISH - The most comprehensive online tax course on how to prepare Canadian Corporate tax returns using a Profile T2 Tax Software.

SOFTWARE: Student/Demo Version of PROFILE T2 software is included for study purposes only to practice cases and get hands-on-experience and learning.

MATERIAL: Course material is updated for 2024 Tax Year - But the approach used is evergreen regardless of the tax year you are preparing.

CERTIFICATE: A certificate of completion will be provided upon course completion.

CPD HOURS: You will earn 10 CPD verifiable hours for CPA PD purposes.

HANDS-ON-LEARNING: Learn to prepare T1 tax return yourself. The Course includes practical, real-world examples and issues that you will encounter in your everyday life and practice.

SUPPORT: The course includes unlimited Q&A Help from CPA instructor

WHO WILL BENEFIT:

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

CPA Students Looking for a Job: The course will benefit CPA students who are applying to CPA firms for entry-level positions and are looking to put some relevant experience and technical skills on their resume. If you are a student in tax and accounting and working towards your CPA designation, then this course is intended to fill in the gap between the tedious theory and the real world.

Professionals Looking To Get Into CPA firm: The course will benefit if you are already a professional and looking to change your career. This course will serve as a good refresher and provide all the necessary guidance and skill to make the jump.

Bookkeepers Looking To Offer T2 return services: The course will benefit you if you are a bookkeeper and want start offering T2 corporate tax return services .You probably deal with a number of accountants on year-end T2 tax planning and work. Why not do the T2 tax returns yourself, or at the very least be able to keep up with those accountants and know what’s going on?

Those Looking To Start a Tax Preparation Business: The course will benefit you if you want to start your own tax preparation side business. This course is their first step.

Profile T2 Corporate Tax Course Introduction

Welcome to the online T2 Corporate tax preparation training course using Profile T2 tax software

Course Outline and Objectives

Profile T2 - Learning Objective and Outcome:

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

Topics - Profile T2 corporate income tax return

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 carry back 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

CPA Firm Hands-on Training Accounting, Audit, Taxation

CPA Members, Students, Bookkeepers & all Accounting Professionals

Blended Learning - 1-on-1, Online, On-Demand, In-Class, Zoom, Webinars, Live WebEx & In-Person

General Information

Presentation Slides & Case Studies - Profile Corporate T2

Taxation (TEXT BOOK/GUIDE) - Reading materialFile

Download Profile T2 demo version for free

Three steps download - Profile Tax Demo T2

Other important instructions

Download Profile T2 Corporate tax demo version for free

Corporate Tax Return Completion Checklist

CORPORATE TAX RETURN COMPLETION CHECKLIST

Step 1 - Setting up Client's Profile/Identification and Enter GIFI Financials

T2 Corporate Income Tax Return - Information Gathering Questionnaire

T2 - Information Gathering Questionnaire - Sample

Step 2 - of Preparing a T2 Return - Calculate Net Income on Schedule 1 of T2 return

T2 Return - Calculate Net Income on Schedule 1 of T2 return

Common Schedule 1 Adjustments with detailed explanations and Sch1 Line Ref

T2 Schedule 1 Common Schedule 1 Book-to-Tax Adjustments

Step 3(a) - T2 Schedule 3 for Dividends Received and Paid in the year

T2 Schedule 3 for Dividends Received and Paid in the year

Step 3(b) - T2 Schedule 4 for Capital and Non-capital Losses

T2 Schedule 4 for Capital and Non-capital Losses

Step 3(c) - T2 Schedule 6 for Capital Gain/Losses and Schedule 7 Passive income AII

T2 Schedule 6 for Capital Gain/Losses and Schedule 7 Passive income AII

Comprehensive Case on Passive income, Dividend, RTDOH, CDA, ERDTOH, NERDTOH and AII

Comprehensive Case - Passive income, Dividend, RTDOH, CDA, ERDTOH, NERDTOH and AII

Step 3(d) - T2 Schedule 8 for CCA, UCC, Recapture and Terminal loss

T2 Schedule 8 for CCA, UCC, Recapture and Terminal loss

Step 3(e) - T2 Schedule 9, Schedule 23 and Schedule 50

T2 Schedule 9, Schedule 23 and Schedule 50

$999 or 3 monthly payments of $399.99

T2 Corp, Partnership, T1, GST/HST, Payroll & More

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REAL FEEDBACK FROM PAST STUDENTS

"The course provides hands-on experience that is the most important part for me."

"Excellent course for the basic T2" - I love It

"I felt it was very useful. Looking forward to taking more courses with you guys."

"Very useful and precise content and delivered very effectively."

"Excellent instructor, handout materials and audiovisual instruction"

"I liked the well-organized case studies and clear demonstration. "

"Very information and detail. loved contents and steps by step learning to the various tax issue."

"I happy and very satisfied. You made it very easy to learn and understand. you are a great tutor. I am moving to the next course T1. I wish I have done this earlier. Thank you"

"very detailed and clear. very useful. I really enjoyed it"

"It was a very hands-on practical course with lots of exercises. I really enjoyed taking the course and would definitely recommend to my friends who wants to go in public practice field"

"I love the course, I feel Dividend and investment income topics are much helpful "

"The course is well explained and very practical. I also like that we can contact the instructor anytime and he has always replied in a timely way."

"I really enjoyed this course as I needed to refresh my knowledge and skills in T2 prep. I will definitely look into other courses as I appreciated the way your course was performed and covered. Thank you!"

"ITS SO NICELY THOUGHT, THE VIDEOS ARE VERY EXPLANATORY, PLUS YOU HAVE ACCESS TO THE INSTRUCTOR WHEN EVER YOU HAVE AN ISSUE."

"The course materials cover all the tax issues that we will come across in work. And the solution is very detail and helpful."

About Instructor:

Affan Khalid CPA, CA

I have over 15 years of experience in Public Accounting, Canadian Tax and International Taxation

Work Experience

Partner in a Midsize Firm
Past: Senior Tax Manager at MNP LLP Canada
Past: Tax Manager at PwC Canada

Qualifications and Designations

Chartered Professional Accountant (CPA)
Chartered Accountant (CA)
CPA In-Depth Canadian Taxation (Level 1, 2 and 3)
CPA In-Depth International Taxation
BBA from University of Toronto

Teaching experience

Seminar Leader/instructor at the CPA for Professional Development courses
Instructor at the CPA for In-depth Tax program (Year 1 and 2) Group Study and In-residence
Instructor at the CPA for Professional Education Program (CPA PEP) courses and modules
Instructor at the CPA for CPA Preparatory Courses courses and modules
Instructor at the CPA for Capstone 1 and 2 workshops

I have over fifteen years of experience in providing comprehensive tax planning, consulting and compliance services to both multinationals and Canadian public & private companies in a broad range of industries and sectors. He is responsible for providing Canadian tax advice and compliance services including advising clients on cross-border transactions, mergers and acquisitions, tax planning and compliance, and assistance with Canada Revenue Agency audits. Our instructor obtained his Bachelor of Business degree with a specialization in accounting and finance from the University of Toronto.

Feel free to call me at 416-275-6540 or email at support@accountingtraining.ca. You can also Send WhatApp Message.

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