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All items tagged with: Marcia Elaschuk

Retirees Returning to the Workforce: Understanding Employment Trends and Debt

Posted: May 08, 2018 By : Marcia Elaschuk
Posted in: Strategic Thinking , Debt Management, Financial Literacy, knowledge bureau, Evelyn Jacks, tax savings, financial education, Baby Boomers, Marcia Elaschuk, job opportunities, employment statistics, retirees, employment trends, budget

One third of Canadian retirees are in debt to the tune of $19,000, on average. In fact, more retirees are returning to the workforce to address these debt levels and improve standards of living later in life. Now more than ever, especially with interest rates on mortgages and tax debt rising, addressing debt management is an integral part of professional tax accounting and financial planning services.

Debt Management Series: Home Buyers Plan

Posted: March 06, 2018 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , Debt Management, Financial Literacy, knowledge bureau, Evelyn Jacks, rrsp, tax courses, Marcia Elaschuk, online education, mortgage down payment, mortgage lenders, buying a home, home buyers plan, HPB, first time buyers, real estate purchase, financing

Do you have clients looking to buy their first home? Ensure they’re familiar with the ins and outs of the Home Buyers Plan to help them fund their purchase.

Debt Management Series: Purchasing vs. Leasing Vehicles

Posted: December 13, 2017 By : Marcia Elaschuk, DFA-Specialistâ„¢
Posted in: Strategic Thinking , Debt Management, Financial Literacy, knowledge bureau, interest rates, Evelyn Jacks, tax courses, wealth management, financial education, asset management, Marcia Elaschuk, budgeting, debt sources, debt planning, buying a car, leasing a car, car loan, financing a car purchase, financing options, credit report

In the market for a new car before year end?  Take the time to visit your tax advisor first.  He or she can take the time before the holidays to help you consider your after-tax options and evaluate the best approach to acquiring this asset; as debt management is likely part of the equation.

CRA Targets Business PayPal Accounts

Posted: November 21, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , Succession Real Wealth Management, Debt Management, Financial Literacy, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, voluntary disclosure program, tax debt, tax courses, debt and cash flow management, Marcia Elaschuk, financial courses, CRA debt, PayPal, online business transactions, CRA interest, CRA penalties, income tax filing, business tax, T2 Tax Preparation for Small Businesses

Do you or your clients use PayPal for business transactions? Did you report them on your tax return?  If not, you’ll want to correct those errors or omissions quickly under the Voluntary Disclosures Program (VDP), because you are in the sights of the CRA.  A federal court ordered PayPal to disclose information about all business account holders who received or sent a payment between January 1, 2014, and November 10, 2017.

Debt Management Series: Mortgage Debt Management Matters

Posted: November 21, 2017 By : Marcia Elaschuk
Posted in: Strategic Thinking , Debt Management, Real Wealth Management, President - Knowledge Bureau, Financial Advisor, Evelyn Jacks, Investing, tax courses, wealth management, financial education, CE summits, Marcia Elaschuk, mortgages, debt strategies, new mortgage rules, stress test

As of October 17, 2017 new mortgage rules were introduced that could change the way Canadians approach debt management. Advisors, we’ve prepared this resource to share with your clients so they understand how mortgages play a significant role in debt management strategies.

How Should You Manage CRA Tax Debt?

Posted: November 21, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , Debt Management, Financial Literacy, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, voluntary disclosure program, tax debt, tax courses, debt and cash flow management, wealth management, Marcia Elaschuk, financial courses, CRA debt, PayPal, online business transactions, CRA interest, CRA penalties, income tax filing, business tax, T2 Tax Preparation for Small Businesses

If you owe money to the CRA, but you can’t pay, what is the best course of action? For example, if you or your clients use Paypal for business and were not previously reporting this income on your tax returns, the new CRA requirements may leave you in a position where you have to pay taxes you weren’t anticipating.