What Is Income Tax & Why Is Tax Season Important?
- Calculating tax credits, deductibles, and liabilities.
- Reviewing if tax reports are in compliance with government tax rules and regulations.
- Answering clients’ financial questions.
Tips For A Stress-Free Tax Season
- Organize: Keep receipts for deductions in one place. This will make it easier to find the information you need when it’s time to file your taxes.
- Prepare: Review expenses and your lifestyle. Look for opportunities to claim a tax deduction!
- Start: Starting earlier rather than later is always a good idea; if you’re in a rush, you might make mistakes. If you’re planning to enlist the help of a tax preparation professional, reach out well before the deadline as their services are in high demand.
- Revise: Taxes can get complicated! Be sure to double-check your work, especially if you’re filing for yourself.
Tax Deductions For College Students
- Childcare expense deductions
- Moving expense deductions
There are also tax credits that you can apply for as a student, including:
- Canada employment amount
- Interest paid on student loans
- Tuition, education, and textbook amounts
- Canada training credit
- Tax credits and benefits for individuals
Claiming all the deductions you’re eligible for relies on good organization and preparation throughout the year. Keeping track of tax credits and deductions can definitely pay off, significantly cutting down how much you owe in taxes — or even leading to a tax refund. Learning this skillset is useful on its own, but it also opens significant opportunities for employment as an income tax preparer.
Why You Should Become a Tax Preparer
Additional Benefits Of Choosing A Career In Accounting And Taxation
How To Become a Canadian Tax Preparer
Income Tax Preparation Courses And Learning Outcomes
Career Opportunities Available To Tax Diploma Graduates
- Accountant Assistant / Technician
- Junior Accountant / Bookkeeper
- Invoicing & Billings Clerk
- Payroll Administrator
- Inventory Assistant
- Office Assistant / Coordinator