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Online Wellness Institute: Business & Income Tax Essentials for RMTs

  • January 01, 2021
  • 00:00
  • December 31, 2021
  • 00:00
  • https://courses.onlinewellness.ca/courses/income-tax-essentials


Business & Income Tax Essentials for RMTs

  • Instructor: Jordan Pierson (CPA, CA) 
  • Location: Online
  • Cost: $ 126.00 (including GST)
  • Dates: On-Demand
  • Duration: 4.5 hours (2.25 Secondary Category 'B' CEUs)

Registration: Details and link to Register

Learning Outcomes

After successful completion of this course, you will understand:

  • The criteria used by the CRA to assess whether someone is an employee or an independent contractor

  • The differences between sole proprietorships, partnerships and corporations

  • The advantages and disadvantages to incorporation

  • The fundamental elements of the balance sheet and income statement and the difference between accrual accounting and cash accounting

  • The difference between operating and capital expenses, and the impact write-offs have on taxable income

  • Common red flags that may trigger an audit or review by the CRA

  • How income tax brackets work and why they shouldn't be worried about moving into a higher tax bracket

  • Which expenses are eligible for deduction

  • How to file a personal income tax return using TurboTax online

  • Filing and payment deadlines and when instalment payments are required

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