Tax Accounting

Additional Worksheets
Bank Transactions for Trusts

This worksheet summarizes bank transactions, and reconciles them for use in the preparation of trust tax returns and related schedules.

Easily input, reference, and review key amounts such as payments to each beneficiary, income to the trust, interest and bank fees, and any other applicable amounts.

You can accommodate nearly any situation, making adjustments quick and easy. Having this worksheet in your collection is something you can trust!

 

  

Capital Dividend Account

This worksheet determines the current balance in the Capital Dividend Account as outlined in Subsection 89(1) of the Income Tax Act (Canada).

This worksheet’s design allows you to easily determine the CDA balance at any time, or can be used to keep track of the balance on an ongoing basis.

To cover all bases, we have developed an additional flavour of this worksheet to efficiently calculate the CDA balance where transactions from predecessor corporations must be considered.

This worksheet is a flexible time-saver that suits almost any situation.

 

  

Capital Gains Reserve

This worksheet calculates the allowable capital gains reserve, where a portion of the proceeds from an asset disposition are not receivable until after the tax year.

As quickly as you can enter the proceeds and cost base of the eligible assets disposed, the worksheet will calculate the reserves by year, and produce a replica five (or ten) year tax schedule for use on the tax return.

This worksheet gives you additional benefits such as override capability to accommodate unique circumstances (such as capital loss carry-forwards), a tax balance estimator for presentation to clients, the ability to accommodate multiple dispositions, and more.

 

  

Corporate Loss Carryback

This worksheet efficiently allocates capital and non-capital losses from the current tax year to previous tax years.

With easy inputs directly from the corporate tax returns, we’ve simplified this formerly manual exercise to ensure you obtain the results best for your client.

This worksheet also offers a tax balance estimator by year for easy reassessment verification. It also integrates beautifully with the Corporate Tax Continuity Worksheet for further time savings.

 

  

Financing Fees Amortization

This worksheet calculates the amortization of certain expenses over a prescribed period, under paragraph 20(1)(e) of the Income Tax Act (Canada).

It quickly calculates the amortization by tax year for financing fees, and provides a clear schedule for your files.

This worksheet also accommodates multiple types of financing fees in a tax year, and supports allowing for debt obligation settlement dates and corporate add-backs.

 

  

Loan Amortization

Sooner or later, everyone needs a loan amortization schedule… either to provide a payment schedule to a client, or to determine interest amounts within a payment range.

Online calculators are limited in their options, and won’t give you the control or details needed. Interest solver programs can be overwhelming and inflexible. Our worksheet is made by professionals, for professionals, and strikes the perfect balance.

You’ll have full control over the substance of the transaction, and you’ll never lose touch with our easily understood results. In less time than it takes to drink a cup of coffee, you’ll have a beautiful schedule at your fingertips. It’s the calculator you’ve been waiting for!

 

  

Summary

This worksheet supports the structured tabulation of information, such as medical expenses, donations, invoices, or receipts. It’s a is a useful tool for consolidating source information for tax returns or other purposes.

Common solutions to this routine exercise often fall short, either requiring irregular adjustments, having poor structure, or being difficult to review.

Our worksheet addresses all of these deficiencies with a comprehensive solution that’s easy to use.

 

  

 

Look no further. Get started today!