All items in: Current Issue

Special Report: Last Minute Tax Tips

Posted: April 23, 2019
Posted in: Strategic Thinking, Current Issue
This week’s Knowledge Bureau Report is dedicated to those often-missed and often-audited discretionary deductions and credits that both professionals and taxpayers will want to ensure they’re maximizing on. This can improve the size of tax refunds and/or reduce family tax bills. 

Lucrative Tax Breaks for Families with Children

Posted: April 23, 2019
Posted in: Strategic Thinking, Current Issue, tax preparation, tax filing, child care expense claim, universal child care benefit, Canada Child Benefit, child care, tax breaks for families
An often under-claimed and misunderstood tax deduction is the claim for babysitting or child care expenses. Make the claim on auxiliary tax form T778 and generally you will do so on the return of the spouse with the lowest net income. However, there are cases where the higher earner can make the claim. Here are the rules:

Tax Tips: 12 Commonly Missed Medical Expenses

Posted: April 23, 2019
Posted in: Strategic Thinking, Current Issue, tax preparation, tax credits, Medical expenses, tax filing, deductible medical expenses, tax deductions, medical claims, claiming medical expenses
Medical expenses are among the most commonly overlooked tax provisions. Most people have out-of-pocket costs not covered by a medical plan, so it’s important to pay attention to claim them, as they can be used to reduce taxes payable. Use this checklist of twelve often-missed allowable medical expenses to your benefit, or that of your clients.

10 Eligible, Audit-Proof Moving Expenses to Claim

Posted: April 23, 2019
Posted in: Strategic Thinking, Current Issue, tax preparation, tax tips, Moving Expenses, tax filing, claiming moving expenses, tax write-offs, allowable moving expenses
Taxpayers who moved in 2018 can take advantage of expense claims for lucrative tax breaks when filing their tax returns this year. However, there are some tricky rules that apply to eligible and ineligible moving expenses that must be considered in order to remain audit-proof with the CRA.

Mark Your Educational Calendar Now

Posted: April 23, 2019
Posted in: Strategic Thinking, Current Issue, tax courses, financial education, financial conferences, mark your calendar
The height of tax season is drawing close. Make a great decision and commit to your off-season education plan now. Train your staff for next year too. Making sure you mark early registration deadlines will save you money. Ask for group discounts when 2 or more enrol  Here are the key deadline dates:

Graduates in the News - Chris Bockstael - MFA™ - Retirement and Succession Services Specialist

Posted: April 23, 2019
Posted in: Strategic Thinking, Current Issue, master financial advisor, MFA designate, Graduates in the news, grads in the news, MFA- Retirement and Succession Planning Specialist
Certified Financial Planner (CFP) Chris Bockstael, of OneLife Wealth Management Inc, graduated with an MFA™ – Retirement and Succession Services Specialist designation, based on recommendations from colleagues who indicated that Knowledge Bureau courses were particularly pertinent to financial planning.