Personal Tax Update for iFirm Tax T1 Users – Recorded Webinar - AnswerConnect

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.

Personal Tax Update for iFirm Tax T1 Users

TOPICS INCLUDE:

(Note: if new or urgent topics arise we will update the Agenda)

Federal Tax and Form Changes
We’ll discuss the various 2021 tax and form changes, including the following:

• Tax treatment of COVID benefits and benefit repayments
• Home Office Expenses for 2021
• Changes to the Canada workers benefit
• Changes to the delivery of notice of assessments
• Proposed changes to the Northern residents deduction
• 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 and discuss ideas for utilizing the many productivity tools available in iFirm Tax.

CRA Services
New process for confirming a representative
Impact of mandatory Multi-Factor Authentication

PRESENTER:

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.