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All items tagged with: Financial Advisor

Ethics and Leadership: When Social Mores Change

Posted: January 16, 2018 By : Knowledge Bureau Staff
Posted in: Strategic Thinking, Current Issue , knowledge bureau, Evelyn Jacks, Small Business, financial advisors, tax advisors, entrepreneur, business development, leadership, thought leaders, career development, online education, ethics, ethical leadership, leadership programs, education for entrepreneurs, Executive Business Builder

Watching the antics of various leaders in the news these days, it’s clear the challenges of leadership are always on display.  Leadership, ultimately is about followers, and ethical leadership is enduring. Exactly how do great leaders develop their leadership styles, and do the right things in periods of great change and much distraction?

Poll Results: Advisors Must Put More Emphasis on Discussing Charitable Giving

Posted: January 09, 2018 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , knowledge bureau, tax returns, charitable giving, Evelyn Jacks, income tax, tax courses, financial advisors, tax advisors, financial education, Knowledge Bureau poll, online education, Super Donor Credit, donation tax credit, charity tax credit, resolutions

In December, we asked Knowledge Bureau Report readers, “In your opinion, are tax and financial professionals taking the time to help clients understand the benefits of charitable giving?” In a surprising result, only 17 percent thought their peer group was spending enough time counselling their clients how to make donations in a tax-efficient way.

Anything But Simple: Morneau’s Income Sprinkling Rules Start January 1

Posted: December 19, 2017 By: Evelyn Jacks
Posted in: Strategic Thinking , Financial Literacy, CRA, capital gains, knowledge bureau, Evelyn Jacks, family business, retirement planning, investment income, tax courses, financial advisors, retirement income, wealth management, tax changes, income splitting, tax advisors, financial education, tax reform, small business tax, Liberal government, Canadian income tax, Morneau, income sprinkling, family tax credits, reasonableness test, capital contribution, private corporation tax, incorporated business

It’s official, family income sprinkling rules will take effect January 1, 2018, and, unless a family member can show active participation under still-complicated reasonableness tests, distributions of income from private family businesses will be taxed at top tax rates, with none of the progressivity in tax rates available to individuals. This will require an immediate rethinking of resources available to the economic unit known as the family business.

Labour Report Points to Financial Services Employment Opportunities

Posted: December 13, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , Financial Literacy, Financial Advisor, knowledge bureau, Evelyn Jacks, retirement planning, tax courses, financial education, Real Wealth Manager, self-employment, retirement statistics, Executive Business Builder Program, online courses, entrepreneurs, employment opportunities, Labour in Canada, Labour Statistics, employment rates in Canada, starting your own business

Last month Statistics Canada released a report titled “Labour in Canada,” citing statistics from the 2016 census. Employment rates, average earning potential, part-time work trends, and the number of older workers still in the workforce all point to promising opportunities for employment in the tax and financial services industries especially, which offer high earning potential for this demographic.

Tax Pros Confirm: CRA Increasingly Aggressive with Audit Practices

Posted: December 05, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , Financial Literacy, CRA, Financial Advisor, tax credits, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, income tax, tax courses, taxpayer bill of rights, financial education, tax preparer, filing tax returns, tax deductions tax audits, taxation issues, CRA audits, tax refunds

The majority of tax and financial services professionals agree: CRA has stepped up audit activity on returns of average Canadian tax filers.  Knowledge Bureau Report’s November poll found this trend emphasizes the value that financial and tax preparers can offer to Canadian taxpayers, as they grapple with a less-than-satisfactory experience with their tax department.

Amidst Outcry, CRA Announces Support for DTC Claimants

Posted: December 05, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , Financial Literacy, CRA, Financial Advisor, tax credits, knowledge bureau, Evelyn Jacks, disability tax credit, Tax Specialist, tax courses, distinguished financial advisor, financial education, Disability Advisory Committee, Type 1 Diabetes, Disability Tax Credit form, tax relief, Diabetes Canada

Canada Revenue Agency (CRA) has again come under fire for its policies for assessing the claims of people with Type 1 diabetes who previously qualified for the Disability Tax Credit (DTC). However, it is defending its policies as being consistent.