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All items tagged with: tax credits

Tax Literacy: Helping Canadian Newcomers Settle In

Posted: July 10, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , tax preparation, Financial Literacy, tax credits, knowledge bureau, Evelyn Jacks, income tax estimator, tax filing, tax courses, non-refundable tax credits, distinguished financial advisor, financial education, immigration, Canada immigration, newcomers to canada, Canadian residence, residence period, tax credits for immigrants, Canadian emigration, expenses and deductions

Did you know that 1,212,075 new immigrants permanently settled in Canada from 2011 to 2016, representing 3.5 percent of Canada’s total population in 2016? Tax and financial advisors have a great opportunity to help with the financial affairs of these families, especially because the tax rules are somewhat different for these residents.

Summertime Moves: 7 Tax-Efficient Tips

Posted: July 03, 2018 By: Evelyn Jacks By :
Posted in: Strategic Thinking , Financial Literacy, tax credits, self-employed, knowledge bureau, Evelyn Jacks, income tax estimator, tax calculator, Moving Expenses, tax education, income tax preparation, moving credits, moving claims, tax-efficiency, job relocation, storage costs, Income Tax Filing Fundamentals

Summertime moves make sense for many families, as they can ensure the kids are well established to start in their new schools by fall. The moving process can be hectic, but it also creates lucrative tax deductions – so keep your receipts and documentation to take advantage. Here are seven moving-related tax tips for expense claims that every Canadian needs to know!

Disability Credit Rejects: Close to 60% of Taxpayers Win Back Rights

Posted: July 03, 2018 By : Knowledge Bureau Staff Writers
Posted in: Strategic Thinking , tax preparation, CRA, tax credits, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, disability tax credit, RDSP, Registered Disability Savings Plan, tax education, diabetes, Diabetes Canada, tax refunds, rejected claims, life-sustaining therapies claim, Senate Committee on Social Affairs, Distinguished Financxial Advisor

Last year, following a bitter public controversy, the CRA re-assessed 2,267 rejected claims from diabetics applying for the Disability Tax Credit (DTC). The good news? Now 1,326 have now been approved – that’s 58 percent! But these Canadians will wait up to 30 weeks for refunds; an issue that has prompted a further Senate response.

Is Self-Employment a Good Choice? Statistics Show It’s a Growing Sector

Posted: July 03, 2018 By : Knowledge Bureau Staff Writers
Posted in: Strategic Thinking , tax preparation, tax credits, self-employed, knowledge bureau, poll results, Evelyn Jacks, retirement planning, distinguished financial advisor, Canadian economy, tax deductions, entrepreneur, gig economy, flexible workforce, non-traditional workforce, independent contractors, hiring, financial risk, agile workforce

The way we work in Canada is changing: statistics show that 20 to 30 percent of the current workforce consists of “gig workers”: freelancers and other self-employed classifications. But that number will rise by 2020. Is it a good choice? Nearly 60 percent of last month’s poll respondents said “yes.”

Child Benefit Enhancements: Government Improves Access to Social Benefits

Posted: May 22, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , Financial Literacy, tax credits, knowledge bureau, tax returns, Evelyn Jacks, financial education, tax benefits, social benefits, Canada Child Benefit, online education

The Canada Child Benefit (CCB) will increase this July for families that filed a 2017 tax return. However, the requirement to file a tax return is just one of the reasons why thousands of Canadians can’t access these generous, tax free benefits. The government will soon spend more on awareness; but the tax and financial services community can assist, too.

Sneak Peek! Add Tax Consultancy to Your Services

Posted: May 22, 2018 By : Knowledge Bureau Writing Staff
Posted in: Strategic Thinking , tax preparation, OAS, tax credits, knowledge bureau, Evelyn Jacks, tax filing, investment income, tax courses, CPP, employment deductions, tax education, tax software, online education, intermediate tax preparation, dependents

As the owner-manager of a thriving tax preparation, bookkeeping, accounting or financial services practice, your future success is dependent upon the knowledge and skills of your team, especially with technological advances. It's time to go beyond the basics and learn more about providing tax consultancy services. The newly updated Intermediate Personal Tax Preparation can help!