Prepare a simple personal income tax return

Assignment Help Taxation

Reference no: EM133027003

MGT2206 Canadian Income Taxation

Instructions:

The objective of this assignment is for each student to become familiar with tax preparation software and for each student to individually use that software to prepare a simple personal income tax return. This assignment is to be completed individually.

Documents provided: Identification and Client Information (see page 2 of this document); T4 for Taxpayer {Yourname}; T4 for Taxpayer's spouse, Your Spouse; T5 - {Yourname}; T5 - Your Spouse and T3 - Joint (to be split 50% to each spouse). Where you see {Yourname} you are to insert and use your own name when preparing the tax return. Where you see Your Spouse you can leave this as the name on the file.

Required:

Prepare a 2020 T1 Personal Income Tax and Benefit Return for each of {Yourname} and Your Spouse. You are to prepare the returns to minimize the total taxes payable for the two spouses.

Hand in ONLY the form titled "Coupling - Taxpayer and Spouse Summary" printed from TaxPrep in PDF format. Ensure that you have "coupled" the returns for Taxpayer and Spouse so that the Summary shows the information for both spouses (one column for each).

Attachment:- Canadian Income Taxation.rar

Reference no: EM133027003

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