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Retirement Advice Key as Canadians Fall Short on Savings Goals

Posted: September 19, 2017 By : Tamar Satov
Posted in: Strategic Thinking, Current Issue , Debt Management, Tax, Tax Planning, Debt, interest rates, Bank of canada, Evelyn Jacks, retirement planning, mortgage, tax courses, real estate, debt and cash flow management, retirement savings, CPP, retirement income calculator, CE summits, consumer debt, credit card debt, liquid assets, savings strategies, personal savings account, tax-efficient retirement income planning

Three-quarters of Canadians say they have saved 25 per cent or less of what they feel they need to retire, according to a Canadian Payroll Association survey. Financial advisors are well-positioned to help.

Changes to Corporate Income-Splitting Rules Could Hurt Women and Families

Posted: September 08, 2017 By : Evelyn Jacks, MFA, DFA-Tax Services Specialist
Posted in: Strategic Thinking , Federal Government, dividends, knowledge bureau, Evelyn Jacks, income tax, Small Business, distinguished advisor conference, income splitting, finance canada, financial education, entrepreneur, post-secondary education, CE summits, Canadian income tax, Morneau, gender inequality, gender issues, women and families, taxation of private corporations, feminism, income tax reform, tax planning strategy, gender statistics, income tax proposals, tax for stay-at-home parents

Finance Canada’s controversial proposals on the taxation of private corporations, which require comments on the changes by October 2, will potentially affect businesspeople of all income levels, from all walks of life, who serve and employ Canadians in their hometowns across Canada. However, they will also affect families and, in particular, women.

Students Will Owe $30K by Graduation: Debt Management Critical

Posted: September 08, 2017 By : Knowledge Bureau
Posted in: Strategic Thinking , Debt Management, Tax Planning, Financial Advisor, knowledge bureau, TFSA, RESP, rrsp, education savings, distinguished financial advisor, financial education, professional development, post-secondary education, CE Summit, student debt, student loans, CIBC poll, back-to-school, Marcia Elaschuk, consumer debt, reducing debt, debt solutions

Three-quarters (74 per cent) of Canadian post-secondary students believe they will need to supplement their schooling with more training after graduation, despite already spending on average $14,000 each year and expecting to owe $30,000 in debt by the time they complete their current program.

Financial Advisors’ Advice and Strategies Altered by A.I. Revolution

Posted: September 08, 2017 By: Evelyn Jacks
Posted in: Strategic Thinking , self-employed, knowledge bureau, tax returns, relationship management, Evelyn Jacks, income tax, retirement planning, distinguished advisor conference, financial advisors, wealth management, tax education, financial education, tax reform, entrepreneur, post-secondary education, CE summits, artificial intelligence, AI, industries, iron and ore, Malcolm McRae, tax planners, family wealth, intergenerational issues, job elimination, obsolete jobs, severance packages

From cell phones to airplanes, building and coins, ore is indispensable in modern life; but, like many other outputs, the work people do to bring it to market is being impacted by the A.I. Revolution. Similar disruptive changes affect the advice tax and financial advisors give their clients.

Poll Comment of the Month: Canadians Betrayed by Tax Proposals

Posted: September 01, 2017 VIA: Knowledge Bureau
Posted in: Strategic Thinking , Federal Government, DAC, capital gains, taxation, knowledge bureau, Evelyn Jacks, income tax, Small Business, distinguished advisor conference, Canadian economy, inflation, tax changes, tax reform, tax rates, entrepreneur, tax proposals, passive investment income tax, Knowledge Bureau poll, Liberal government, layoffs, private corporation, proprietorship, Larry Frostiak, CE Summit, Knowledge Bureau CE Summit, Knowledge Bureau Distinguished Advisor Workshops

We received dozens of thoughtful, well-crafted comments to our August poll on the proposals to tax passive investment income inside a small business corporation at top personal rates. But this “Letter to the Government” submitted by Brad is a must-read.