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 you 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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Course Outline

Continuing Education Credits

The following associations have approved this course for continuing education credit. Credit may also be available from those associations with no formal approval process.


CMMOTA - 2.25 Credits

CMTNL - 2.25 Category B Credits

CRMTA - 4 Secondary Credits

MTAA - 2.25 Secondary Credits

MTAM - 4.5 Primary Credits

MTANS - 4.5 Secondary Credits

MTWPAM - 2.25 Secondary Credits

NHPC - 5 Credits

Pending Approval


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Course Preview

Understanding Income Tax Brackets

Course curriculum

Watch Intro Video

Course Preview

Calculating Business Use of Home Expenses

Course Certificate

After successful completion of this course, you will receive a course certificate stating that you've completed 4.5 hours of online training.


Jordan Pierson, CPA, CA

Jordan is a Chartered Professional Accountant and the Director of Education at Jensen CPA. He received his Bachelor of Business Administration from Mount Royal University, and his designation as a Chartered Professional Accountant from CPA Alberta. For 6-years he worked as an auditor and forensic accountant for one of the big four accounting firms. Prior to becoming a professional accountant, Jordan worked for 7-years at a major financial institution, where he gained extensive knowledge about banking and personal finance.

The Most Essential Business Course for Canadian RMTs