ACCO 340 Income Taxation in Canada Assignment

Reference no: EM132713505

ACCO 340 Income Taxation in Canada - Concordia University

Tax Software Assignment Problem

Textbook - Mr. George Pharmacy

1. The case in chapter 4 from pages 193 to 196. Do not continue into Chapter 11

2. To have access to Profile tax software, please login to your MyLab Accounting under chapter resources in section of Profile Access. Please see the other handout of the MyLab Accounting. Once you register, you will receive an email containing a Product Code, a License Key, and a link to download your trial copy of Profile software.

3. If you need help, Visit intuit profile to register and for technical support.

4. This software is designed to prepare the 2019 version of an individual tax return. You may update the version to the taxation year 2020. Update Profile version to 2020. It is important to have the latest version of ProFile is available. Checking ProFile version Open ProFile. Select the "About" option from the "Help" drop-down menu in the top toolbar. The "About" window displays. Review the ProFile version number (for example, "2020.2.0")

5. In the textbook, we are required to prepare an income tax return for the year 2019. However, you are required to prepare the tax return for 2020 as mentioned above. You simply change the year from 2019 to 2020 in the book, assuming that all the data (expenses, revenues, education information), given in the case for the year 2019 is actually for the year 2020. Therefore, ADD ONE YEAR to the birthday of everyone (for example 1954 will be 1955)

6. You must do the case by computer in your computer. The software is not loaded into any of the computers at Concordia.

7. You can do the assignment using another company's software, if you like.

8. This is an individual case and NOT a group project.

9. The software you use must be for the 2019 or 2020 year. Assignments done using 2018 or prior years software will not be accepted.

10. You have to hand in the 2019/2020 "T1 General" (Federal Tax). I do not want the other schedules.

11. The forms and returns that you print may have the words "TRIAL VERSION" printed across them. Do not worry about this.

12. It is stated in the "Required" that you have to list your assumptions and note any tax planning issues. You do not have to do this.

13. You must hand in a PDF copy of the "T1 General" ONLY return in week 13 in Moodle. You should upload it in the Moodle's folder in week.

Reference no: EM132713505

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