Personal Taxprep Update: Part 1 (Currently Unavailable)

**Please note that this course is not intended for U.S. customers, is not NASBA compliant, and is not eligible for CPE credit**

Staying current on tax, form, software and e-service changes is critical to the success of a tax practice. This personal tax update is designed specifically for Personal Taxprep users to provide you with all the essential information you need in this comprehensive virtual seminar.

**IMPORTANT NOTE: This virtual seminar will be delivered in two parts and will consist of two 3.5-hour long webinars over two consecutive days.**

This Personal Taxprep Update will review the various tax and form changes for 2023 T1 returns and discuss how these changes have been implemented in Personal Taxprep. We will review the latest legislative changes as well as proposed legislation relevant to T1 returns and discuss the latest CRA e-services. We will also answer some intriguing tax questions along the way. And of course, we will share our tips for getting the most out of your Personal Taxprep software.

Note that this webinar is designed for firms that use the on-premises Personal Taxprep program. A separate webinar is being presented on January 30th and 31st, 2024 (and will be available later as a recorded webinar) for users of the cloud-based iFirm tax program.

The webinar will be presented by our experienced tax seminar team, who will also be answering your questions during the session.

Online virtual webinars provide you with an easy way to stay up to date in your tax compliance from the convenience of your own office.

This virtual seminar will be delivered in two parts and will consist of two 3.5-hour long webinars over two consecutive days, making it easier to fit into your schedule than a full day session. And the shorter length makes the webinars more engaging.

The webinars will include plenty of time for questions and each webinar will include a break midway through to make the experience as comfortable as possible.

Who Should Attend
This webinar will be of interest to accountants and tax practitioners who use Personal Taxprep and want to get updated on personal taxation as they get ready for the upcoming income tax season.

Topics Covered

• Status of Legislation
  We will review recently enacted legislation as well as proposed legislation and how it will affect you, including the following:
  
• • Mandatory Efile, electronic filing of information returns, and electronic payments • Proposed changes to restrict expenses on Short Term Rentals • Proposed changes to Alternative Minimum Tax • Changes to RESP plans • Proposed changes to UHT
• Federal T1 Tax and Form Changes
  We will examine various 2022 tax and form changes for the T1, including the following:
  • Immediate expensing rules for self-employed individuals
  • New procedures for claiming a deduction for a COVID benefit repayment
  • New labour mobility deduction
  • Increase in the First Time Home Buyer's Tax Credit
  • Increase in limits for passenger vehicles
  • Medical expense eligibility for fertility expenses or surrogacy
  • Home Office Expenses for 2022
  • Revised eligibility for the Disability Tax Credit
  • New critical mineral exploration tax credit
• Provincial Tax and Form Changes
  We will discuss various provincial tax and form changes that will impact 2022 T1 tax returns. We will also preview some upcoming changes for 2023.
• Tax Questions Answered
  We'll explore a selection of intriguing tax questions gathered from client inquiries, past webinars and online forums and review the relevant CRA guidance and interpretations.
• CRA Services
  We will review recent changes to CRA services, including:
  • Process for confirming a representative
  • Increased security for Represent a Client (RAC)
  • Changes to the CRA portals

Learning Objectives

• Understand the latest changes to tax legislation including draft legislative proposals
• Learn what tax and form changes will affect your T1 tax returns for this year
• Learn how to navigate the changes to CRA services
• Discover upcoming tax issues that you may want to discuss with your clients

Level
Basic

Instructional Method
Group: Internet-based

Program Prerequisites
None

Advance Preparation
None

Instructors

Maureen Vance

Maureen obtained her CA with Peat Marwick Mitchell (a predecessor of KPMG) and joined Taxprep (now part of Wolters Kluwer) in 1985. She completed the CICA In-depth tax course in 1991, and since 2002, she has been a consultant to Wolters Kluwer on tax and compliance issues.

Maureen researches and writes material on tax planning and compliance and presents seminars and webinars on various tax and software topics to accounting firms across Canada. She is a member of the CRA-CPA Canada Technology Working Group, a contributor to the CPA Canada Tax Risk Management Guide, a contributing author for the Wolters Kluwer publication Preparing Your Partnership Returns and a frequent contributor to the Wolters Kluwer Canada publication Tax Topics.

Sue Deakin

Sue is a Professor of Accounting, specializing in tax, in the Lawrence Kinlin School of Business at Fanshawe College in London, Ontario. She earned her undergraduate degree and MAcc from the University of Waterloo and her CPA designation thereafter. She completed her co-op education with Arthur Andersen & Co in Toronto and continued to work at AA& Co. in Taxation upon graduation. She then worked for 15 years as VP Finance in a property management company before pursuing a teaching career. As coordinator of the Accounting programs at Fanshawe, Sue led the development of the Bachelor of Commerce, Accounting and the graduate certificate in Professional Accounting.

Jenny Lee

Jenny obtained her CA designation with Price Waterhouse and completed the CICA In Depth Tax Course, after graduating from U of T in the BComm program. Over the past 20 years, you may have met Jenny at our various Taxprep or Cantax seminars in the GTA or one of our in-house training seminars or webinars. She's always more than happy to answer your questions and enlighten you about the software.

Gerry Barker

Gerry has a long tenure in the tax compliance industry with Taxprep and Cantax in various capacities. He enjoys getting out to see new and current customers when he can and spends 1/3 of his days on the road coordinating our training seminars. He is the ultimate road warrior dog! With a true passion for servicing our customers through his high touch approach, he genuinely does care about the learning experience. Gerry and our tax compliance team dedicate themselves to executing on delivering great customer experiences every day.