Reference no: EM132065741

COMPREHENSIVE TAX RETURN PREPARATION CASE STUDY

As a final case study covering all the rules learned in this course, you are required to prepare comprehensive personal income tax returns using a tax preparation software. The facts you must use for this case study are given below. The completed tax returns must be submitted no later than the week before the end of the course (week 13) - see due date indicated on the Course Schedule/Calendar. I strongly recommend you work on the tax returns throughout the course, as we progress through each module, and not wait until the case study is due. In particular, it may take several days (even over a week in some cases) to obtain permission to download the free tax software that is available with this course (see below) so plan ahead.

The publisher of the textbook for this course has made arrangements with a tax software company called Intuit Canada to have a tax return software called "Profile" made available free of charge to students of this course. The process to download a free student copy of the Profile software requires that you register with Intuit Canada. This process is explained in detail in a separate message I posted in the Comprehensive Tax Return Case Study forum on the Discussion Board. It is also explained on the Student Companion Website under the "Profile Access" tab.

REQUIRED:

Using a tax preparation software - preferably the Profile software that is provided free of charge by Intuit Canada to students of this course - and the facts given below, complete the tax return (T1) for Mr. James Doode and his common-law partner, Susan Bond, for the 2017 taxation year, including all relevant schedules, forms and worksheets, e.g. Form T2125 must be used for the calculation of business income, etc. Ignore any GST or HST aspects. You must submit the completed tax returns for both James and Susan through the Case Study page on the Blackboard portal by attaching the file containing the data for both tax returns if you used the Profile tax software (both files with a .17T extension) - do not attach the program file for the Profile software (file called "profile.exe") as that file does not contain the data for the tax returns you prepared. NOTE: no marks will be given for submitting the Profile program file alone.

You can use another tax preparation software than the Profile software provided with this course. The purpose of this exercise is to work with a tax software - it doesn't matter which one you use. If you do use another software, please note that I will not be able to access the data files created by that software as I only have access to the Profile software. In that case, you will have to submit a pdf copy of the completed tax returns with all relevant schedules, forms and worksheets. If I cannot access the tax returns, I cannot grade them and no marks can be given for your work.

Attachment:- Comprehensive Tax Return Case Study.rar