Corel Painter Essentials 5 for PC Questions

Hello,

First and foremost, I am NOT a graphics artist, and my background is Critical Care Nursing so PLEASE do not respond as if I know ANYTHING.

I am working on a Logo for my new business, and I am unable to make my Corel Painter Essentials 5 for PC software to do the following things:

1. Trim the Logo so there is no background. I have watched video after video and MACs must do things magical because my PC will not. But please do not hate I have what I have.

2. I need to trim the edges to make it look like the source art which I have which is a street sign 

https://goo.gl/images/u65VL1. I need to scallop or insert circles in the edges.
I have watched and read forum after forum and video after video but I cannot make this work. Any Advice would be appreciated