CE Credits
Knowledge Bureau - 3.5 CE/CPD Credits - Non-Verifiable
Knowledge Bureau - 6.5 CE/CPD Credits - Verifiable

PARTNERS:

 

 

Prefer to Study Online?

 

 

Year-End Planning: For Investors and Small Businesses

Agenda and Workshop Details

* Subject to change.
7:30 - 8:30
TAXLINK ADVISORY BOARD MEETING

By Invitation Only Breakfast Knowledge Bureau President Evelyn Jacks and your TAXLINK Board members will meet to discuss knowledge gaps and trends in the industry to plan future Knowledge Bureau educational courses. Give your suggestions to the TAXLINK Advisory Board.

8:00 - 8:30
REGISTRATION AND COFFEE

Pick up your Comprehensive Knowledge Journal, Meet Our Special Guests and Delegates. Tuition Value Program: Take a sneak peek at special offers and tuition breaks for upcoming Knowledge Bureau programs and sign up on the spot for tuition reductions for CE Summit registrants only!

THOUGHT LEADERSHIP: ISSUES AND TRENDS
8:30 - 9:30
SESSION 1: KEYNOTE – STRATEGIC YEAR END TAX PLANNING: BUILDING SUSTAINABLE WEALTH

KEYNOTE Speaker: Evelyn Jacks, President, Knowledge Bureau

In this important year end tax planning session, Canada’s most trusted, best-selling tax author and thought leader in Real Wealth Management covers the critical tips and traps advisors and their clients need to know to sustain family income and wealth for 2018 and beyond, against the backdrop of new global wealth and economic trends: tax reforms, interest rate hikes and new inflationary pressures. Learn about:

  • How to minimize taxes on the 2018 return: never-to-miss deductions and credits
  • Investors: checklist of critical investment strategies before year end
  • Gig Economy: How to maximize tax rules in the first year of a service business
  • Boomers: Countdown to your severance package – and how to keep most of it!
  • Real Estate: get ready for CRA with your tax audit checklist

Additional Educational Resources: Knowledge Bureau’s RWM™ Designation Program, Essential Tax Facts-How to Make the Right Tax Moves and Be Audit-proof, Too.

9:30 - 10:30
SESSION 2: LIFELINE OF THE DOLLAR –THROUGH THE CORPORATE/PERSONAL CHAIN

Special Guest Speaker: Larry Frostiak, FCPA, FCA, CFP, TEP Frostiak and Leslie

The TOSI rules are in effect January 1, 2018 and the tax rules dealing with passive investments in a corporation will be effective in 2019. Should family businesses still pay dividends to their adult children and spouses? Has CRA tax risk now been “transferred” to any family member who receives compensation or dividends from a family business? Just how is family wealth impacted? Follow the Lifeline of a Dollar invested in a private family business and the tax erosion that occurs due to the recent tax legislation Larry will present a detailed analysis of the Tax on Split Income (“TOSI”) rules. Using a case study approach, there will also be a discussion on alternative forms of remuneration to families where TOSI applies. It will, in fact, be critical for professional advisors to understand the implications and planning alternatives in order to provide timely advice to their clients.

NEW KNOWLEDGE RESOURCES: The materials to be provided to all students will include:

  • Powerpoint slides with speaking notes; and A brand new desktop reference: a detailed Knowledge Journal on the technical materials discussed in this session.
10:30 - 10:45
NETWORKING BREAK AND SPONSORSHIP FAIR
BEST PRACTICES: MANAGING CLIENT RISK
10:45 - 12:30
SESSION 3: LIFELINE OF A DOLLAR PART 2 – PASSIVE CORPORATE INVESTMENTS

Is it still the best idea to accumulate assets in a private corporation, or should business owners starting shifting their wealth to investments outside the corporation, given the passive income tax rule changes taking effect in 2019? Many of your clients will be affected. Not understanding these changes and/or taking no action could mean significantly more taxes payable by their private corporations. This session will explain the changes and discuss its impact on building and preserving family wealth and provide guidance to an important question: should you invest personally or corporately? Should you pay salary, dividends or bonuses? Should you save for retirement inside your corporation or make better use of your RRSP opportunities? Through discussion and examples, planning concepts will be reviewed.

This session will continue to examine the “Lifeline of a Dollar”, but with a focus on the accumulation, taxation and distribution of passive income earned within a private corporation. It will also discuss the best ways to transfer the business asset to adult children or unrelated third parties.

Additional Educational Resources: MFA-Business Services Specialist Designation Program

12:30 - 1:00
MEET AND GREET NETWORKING LUNCH
ADVISOR ROUND TABLE: CASE STUDIES, Q & A
1:00 - 1:45
SESSION 4: FOCUS ON TECHNOLOGY

Special Guest Speaker: Knowledge Bureau Designates take you through a demonstration of Knowledge Bureau Calculators in the Client RelationshipToolkit that are most critical in year end tax planning: the Income Tax Estimator, The RRSP Savings Calculation, the Tax Efficient Retirement Income Calculator, the CPP Income Calculator, the Marginal Tax Rate Calculator and the Donations Savings Calculator.

Additional Educational Resources: Knowledge Bureau Calculators in the Client RelationshipToolkit

1:45 - 2:45
SESSION 5: THE FAMILY BUSINESS TIME BOMB: SELL, TRANSITION, IMPROVE OR WIND-UP?

Guest Speaker: Jenifer Bartman, CPA, CA, CMC

Learn to be a better educator, advocate and steward of the family wealth resources and plan to help your clients invest toward a future that may include a longer work life, the reinvestment of funds from realizing on equity in the business or the re-configuration of retirement income after the disappointment of a wind-down.

Understanding the “Time Bomb” Landscape

  • Overview of Time Bomb factors
  • Why the future of the family business is such an urgent issue

What’s Your Role in the Family Business Time Bomb?

  • Understanding the advisory needs of family businesses
  • Strategies to fill the gap: Qualifications and partners
  • Opportunity: Become the most trusted advisor in transition, an Executive Business Growth Specialist

Working with Clients to Build Value

  • The transition mindset: Sell, transfer, improve, or wind-up?
  • What’s the Story of the Business? What could be achieved?
  • Goal setting: Business models, track record, competitive advantage, and other growth factors

The Future: Building Long Term Sustainability

  • How transition creates the opportunity for client retention
  • When push comes to shove: Initiating succession planning for the business owner
  • Advisory services = marketplace differentiation

Additional Educational Resources: Knowledge Bureau’s Strategic Business Planning Course, one of six in the MFA-Executive Business Growth Services Specialist Program

2:45 - 3:00
NETWORKING BREAK
3:00 - 3:45
SESSION 6: CASE STUDY: EMBRACING DISRUPTION AND RISK IN SUCCESSION PLANNING
  • Does transition for value exist in this business?
  • What options for transition might exist?
  • What are the key roles that are critical for future transition?
  • What are the key financial metrics and action items?
  • What leadership pitfalls might exist?
  • How could the advisor be of assistance to this company?
  • What does success look like?

Additional Educational Resources: Knowledge Bureau’s Fundamentals of Succession Planning Course, one of six in the Knowledge Bureau’s MFA-Retirement and Succession Services Specialist designation Program

LEADERSHIP AND ETHICS
3:45 - 4:15
SESSION 7: BUILDING RELATIONSHIPS IN YOUR KNOWLEDGE-BASED PRACTICE

Special Guest Speakers – your peers from the RWM™, DFA-Tax and Bookkeeping Services Specialist™ and MFA™ Designation Programs will discuss how your knowledge leadership in the area of personal/corporate year end tax planning can make a real difference in the management of your clients’ Real Wealth.

ISSUE: What is the definition of “rich”? It’s been hotly debated recently, together with the sentiment that the wealthy are not paying enough tax. Alternatively, some would say, many people with income over $45,000 could really save more tax, if they knew and implemented their taxfiling rights. Against that backdrop, what more can you do to take leadership in your community to help families build more wealth?

Additional Educational Resources: Knowledge Bureau’s Business Leadership, Culture and Continuity Course in the MFA-Executive Business Growth Services Specialist Program.

4:15 - 4:30
Closing Remarks and Certification

Verifiable Credits – 6.5  Non-Verifiable Credits – 3.5

Featured Courses: Knowledge Bureau’s Corporate Income Tax Fundamentals Certificate Course, part of the MFA-Business Services Specialist Designation Program, available at a special $200 tuition fee reduction for students registered in the November CE Summits.