This virtual seminar will be delivered in two parts and will consist of two 3.5-hour long webinars over two consecutive days. An ideal way to get up to speed for the upcoming T1 season. Not only will you learn the latest federal and provincial tax and form changes, but you can see how they have been implemented in iFirm Cantax and iFirm Taxprep. In addition to discussing the tax changes for 2021, we will also review iFirm Tax software enhancements, changes to CRA e-services and the latest updates to CRA administrative policies as well as discussing some Best Practices with respect to preparing personal returns.
This is a two day webinar (Jan 31, 12-3:30pm EST, Feb 1, 12-3:30pm EST) by registering for the date below, you receive access to both of these dates.
Staying current on tax, form, software and e-service changes is critical to the success of your personal tax season. This virtual seminar can provide you with all the essential information you need!
Our virtual seminar will not only present the numerous tax and form changes for 2021 T1 returns, but also show you how they have been implemented in iFirm Cantax and iFirm Taxprep. We’ll discuss software enhancements, changes to CRA e-services and delve into some Best Practices with respect to preparing personal returns.
To help you get the most out of the virtual seminar, you will be sent the slide deck in advance of the virtual seminar and you’ll also be able to download an iFirm Tax Resource Guide in addition to the slide deck that you can refer to after the virtual seminar.
Our virtual seminar format makes 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.
Personal Tax Update for iFirm Tax T1 Users
Federal Tax and Form Changes
We’ll discuss the various 2021 tax and form changes, including the following:
· Newly announced enhancement to the Eligible Educator School Supply Tax Credit
· New refundable credit for farmers
· Improved Northern Residents deduction
· New COVID benefits for individuals and tax treatment of benefit repayments
· Home Office Expenses for 2021 and CRA position on taxable benefits
· Changes to the Canada workers benefit
Upcoming Tax Changes
We’ll review various tax changes that will come into effect in 2022 as well as discussing the status of various 2021 Federal budget proposals and their potential impact, including:
· Proposed elimination of paper notice of assessments for Efiled returns
· Proposed change to mandatory EFILE of T1 returns
Provincial Tax and Form Changes
We’ll discuss various provincial form and tax changes that will impact your 2021 tax returns and preview some upcoming changes for 2022.
Preparing Returns for the Disabled
With an aging population, virtually all tax practices have to deal with preparing returns for taxpayers with disabilities. We will discuss the proposed changes to the criteria used for granting the Disability Tax Credit Certificate and the new Form T2201 (released in October 2021) as well as the new online tools available for medical practitioners. We will also discuss the new regulations limiting fees associated with Disability Tax Credit certificate requests.
And for clients that are deemed to be disabled, we will explore the various deductions and credits available to disabled taxpayers and examine how to optimize these claims in iFirm Tax T1. Our discussion will include common issues such transferring the DTC to other family members and the tax treatment of retirement home vs nursing home expenses.
iFirm Tax Enhancements
We’ll review recent iFirm Tax enhancements, including new features for reconciling downloaded data, and discuss ideas for utilizing the many productivity tools available in iFirm Tax.
New process for confirming a representative
Impact of mandatory Multi-Factor Authentication
A single registration will get you login information for both days.
Monday January 31, 2022
Tuesday February 1, 2022
All webinars will run from:
9:00 am – 12:30 pm, Pacific time
10:00 am – 1:30 pm, Mountain time
11:00 am – 2:30 pm, Central time
12:00 Noon to 3:30 pm, Eastern time
1:00 pm – 4:30 pm, Atlantic time,
1:30 pm – 5:00 pm, Newfoundland time
Maureen Vance, B. Com, CPA, CA
Tax Software Consultant – Wolters Kluwer Canada
Maureen obtained her CA with Peat Marwick Mitchell (a predecessor of KPMG) and joined Taxprep (now part of WoltersKluwer) in 1985. As one of the original Taxprep employees, Maureen has been involved with all aspects of Taxprep development and support, including acting as product manager on both Corporate Taxprep and Personal Taxprep. She completed the CICA In-depth tax course in 1991 and since 2002, she has been a consultant to WoltersKluwer on tax and compliance issues. Maureen researches and writes material for training and program documentation and presents seminars and webinars 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 as well as a frequent contributor to the Wolters Kluwer Canada publication Tax Topics.