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All items tagged with: debt and cash flow

Despite Obstacles, Canada’s Growing Labour Force Points to Strong Economy

Posted: July 10, 2018 By : Knowledge Bureau Staff Writers
Posted in: Strategic Thinking , Financial Literacy, self-employed, knowledge bureau, interest rates, Bank of canada, Evelyn Jacks, tax courses, distinguished financial advisor, Canadian economy, financial education, entrepreneur, Executive Business Builder Program, Business Builder Retreat, labour force, job market, unemployment rate, stephen Polaz, debt and cash flow, business owner

Despite all the doom and gloom reported lately, Canada’s economy is actually growing. All signs point to an increase in Bank of Canada rates later today, as a new Labour Force Study from Statistics Canada indicates that for the month of June, the country’s labour force increased with the creation of 31,800 new jobs. The report also cites increasing self-employment levels.

IMF Predicts Slowing Growth for Canada: What Can You Do About It?

Posted: June 12, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , Real Wealth Management, Financial Literacy, DAC, knowledge bureau, interest rates, Evelyn Jacks, Small Business, debt and cash flow management, Canadian economy, wealth management, entrepreneur, online education, NAFTA, Canada's competitivementss, cross-border trade, US, Trump US tax, real estatte market, economic trenda

The IMF predicts that if Canada and the U.S. fail to reach agreement on NAFTA, Canada’s competitiveness could take a serious hit, resulting in a drop of 0.4 percentage points or more in GDP. Donald Trump’s tweets about Justin Trudeau could further dampen the outlook. But, astute financial advisors can help clients meet their goals in these difficult times by staying on course.

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.

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.

Business and Financial Pros Say Government Should Do More to Support Post-Secondary Education

Posted: October 03, 2017 By : Tamar Satov
Posted in: Strategic Thinking , Debt Management, Financial Literacy, CRA, tax credits, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, RESP, education savings, tax courses, tax deductions, CESG, financial education, post-secondary education, CE summits, Registered Education Savings Plan, Canada Education Savings Grant, education debt, tuition credits, education deductions, student tax credits, Canadian government, adult education, social benefits, financial assistance, cost of post-secondary education, how to afford university, Canada Learning Bond, debt and cash flow management course

The majority of Canadian financial professionals and business leaders say the government is not doing enough to support post-secondary education, according to an online poll conducted by Knowledge Bureau, Canada’s premiere national institute for excellence in financial education. These findings come despite generous, but underutilized, support from the RESP, Canada Education Savings Grants and Canada Learning Bonds.

Retirement Advice Key as Canadians Fall Short on Savings Goals

Posted: September 19, 2017 By : Tamar Satov
Posted in: Strategic Thinking , 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.