All items tagged with: Tax

Year-End Tax Tip: Brush Up on Medical Expenses

Posted: October 09, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , tax credits, Evelyn Jacks, Medical expenses, deductible medical expenses, tax deductions, medical claims, caregiver credits, claiming medical expenses, eligible medical expenses

Claiming medical expenses can be painful for most taxpayers: there are so many receipts and tiny numbers involved. But it can be worthwhile, especially if you schedule your dental and medical treatments in a tax-savvy manner before year-end.

Tax Relief for Armed Forces: Were Claims Filed Correctly?

Posted: October 09, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , tax preparation, Evelyn Jacks, tax tips, tax advisor, Canadian Armed Forces, tax relief, tax credit, tax deduction, CAF, tax creits for Armed Forces, Canadian Veterans, Canadian military

Members of the Canadian Armed Forces (CAF) received $85 Million in extra tax relief in the 2017 tax year, but some may have missed the opportunity when filing. As part of year-end tax planning communications, professionals working with CAF clients may wish to revisit any recent claims for the deductions available to police and Canadian Forces personnel.

The Right Professional Education for a New Economy

Posted: October 09, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , Financial Literacy, Evelyn Jacks, Tax Specialist, tax courses, ce credits, tax advisor, financial education

The tax preparation industry is undergoing massive change: from jobs that required data entry skills to professional advice that focuses on the best after-tax results for the client and his or her family. That requires a new educational solution for those who want to build a career in this rewarding industry.

Graduates in the News – Troy Harrison

Posted: October 09, 2018 By : Knowledge Bureau Writers
Posted in: Strategic Thinking , tax preparation, Financial Literacy, distinguished financial advisor, financial education, holistic advice, Graduates in the news, holistic financial planning, designates, Troy Harrison

Troy Harrison of Winnipeg, shares why investing in education as an advisor, isn’t just about career advancement. Education also helps advisors forge trust with clients.  His focus now is to cultivate and nurture his client relationships and inspire other advisors to do the same.

CRA News: Advantage Rules for Investments & 2019 TFSA Limits

Posted: October 02, 2018 By: Walter Harder
Posted in: Strategic Thinking , Financial Literacy, CRA, investment, TFSA, RESP, rrsp, RDSP, tax deductions, tax education, tfsa contribution, RRIF, Walter Harder, investment strategy, contribution limiits

Two new important pieces of information from the CRA impact the registered investment strategies of Canadian taxpayers. The forecasted TFSA contribution limits for 2019, and the long-awaited Income Tax Folio S3-F10-C3, Advantages – RRSPs, RESPs, RRIFs, RDSPs and TFSAs issued on October 1.

Economic Consequences When the “Rich” Pay More Tax

Posted: October 02, 2018 By : Beth Graddon
Posted in: Strategic Thinking , Tax, Canadian economy, tax reform, 1%, high networth, CD Howe, government, top tax bracket, high earnings, tax revenue

A new report from the C.D. Howe Institute answers the common question: should the rich pay more tax? While recent tax rate changes brought in $1.2 Billion federally (far less than the $3 Billion anticipated) the data points to several negative impacts, with consequences to all taxpayers, when the rates applied to Canada’s top income earners go up.