All items tagged with: family tax
Posted in: Strategic Thinking , Financial Advisor, knowledge bureau, Evelyn Jacks, Small Business, distinguished advisor conference, digital age, ce credits, entrepreneur, financial conference, CE summits, artificial intelligence, wealth advisor, leadership courses, investors, leadership development, leadership retreat, Business Builder Retreat, holistic wealth management, business building, value-add, adding value, relationship managaement, A.I., Advanced Family Tax Preparation
A new report demonstrates that many advisors are unprepared to meet the changing demands of their clients, particularly with regards to holistic goal planning in wealth management. This will be among the top things that 50 percent of investors will look for when selecting an advisor by 2022.
Posted in: Strategic Thinking , tax preparation, knowledge bureau, Evelyn Jacks, advanced tax preparation, self-study programs, tax education, tax software, online courses, online education, family tax, artifical intelligence, value-add
The most professional tax practitioners are those who have excellent investigative skills in conducting the most exhaustive client interviews, and the best research skills in knowing when and where to look for help. Would you like to hone your skills and become one of them?
Posted in: Strategic Thinking , tax credits, knowledge bureau, Evelyn Jacks, tax courses, tax changes, income splitting, financial education, tax reform, tax proposals, business owners, Morneau, online courses, small business taxation, online education, 2017, 2017 recap, 2017 news stories, family tax deductions, Parliamentary Budget Officer, cottage, principle residence, reporting property sale
It’s a sign of the times: Knowledge Bureau Report readers were most interested in recent tax news, based on our top five posts revisited here. The proposals to change the tax system for private corporations are of most concern; small wonder, too. Not yet law, Tax on Split Income (TOSI) rules begin January 1, 2018. Principle residence reporting changes are important too. Here’s what mattered most to our readers in 2017:
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.
Posted in: Strategic Thinking , CRA, taxation, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, tax education, financial education, employee benefits, T4, Family Tax Essentials
A couple of weeks ago, the financial news of the day involved a controversy about the taxation of employee benefits. CRA was enforcing its interpretation of the law in relation to the taxation of the benefit of receiving employee discounts at work. After a political outcry, CRA backed down, leaving several question marks.
Posted in: Strategic Thinking , Debt Management, CRA, capital gains, Financial Advisor, investments, knowledge bureau, Canada Revenue Agency, statistics canada, Evelyn Jacks, tax courses, ce credits, wealth management, tax changes, tax education, finance canada, tax preparer, tax reform, small business tax, CE summits, tax Canada, Distinguished Advisor Workshops, financial courses, Voluntary Disclosures, family tax credits, tax planning courses, tax season, financial conferences, bookkeeper, Toronto, Winnipeg, Calgary, Vancouver
2018 is destined to be a busy season for Canadian tax preparers and financial advisors who will need to be prepared to assist their clients in addressing the many new tax changes. This year’s CE Summits will help you gain a better understanding of the tax changes that have occurred, and those to come for private business owners and their families, and will allow you to hone the technical skills necessary to effectively address them.