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All items tagged with: tax filing

Train for Work in the New Economy: Tax Advice vs Tax Preparation

Posted: September 10, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , tax preparation, Real Wealth Management, Financial Literacy, Financial Advisor, knowledge bureau, Evelyn Jacks, tax filing, tax advisor, financial education, CE summits, financial advice, robo-advisors, Know Your Client, client-centric strategies, holistic financial planning, tax specialists

What is the difference between a tax preparer or practitioner and a tax specialist? In a word: advice. The tax preparation industry is in the midst of an enormous transformation, and new entrants must educate toward that change. But, why is that and what does that really mean?

CRA’s File My Return Misses the Mark

Posted: August 27, 2018 By : Beth Graddon
Posted in: Strategic Thinking , tax preparation, Financial Literacy, CRA, tax credits, knowledge bureau, Evelyn Jacks, Essential Tax Facts, tax filing, fixed income, distinguished financial advisor, tax course, income tax returns, tax deadlines, low income, File My Return, electronic filing, efiling, Netfile

Nearly 90 percent of Canadians filed their tax returns online this year. Despite this, low adoption rates show that some of the CRA’s automated programs are missing the mark - at least so far - and may be failing to improve the rates of taxpayer filing delinquency.

The Global Population: Fundamentally Financially Illiterate

Posted: August 27, 2018 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , tax preparation, Financial Literacy, Debt, economy, knowledge bureau, Evelyn Jacks, Essential Tax Facts, tax filing, tax courses, tax calculators, tax education, financial education, CE summits

How financially literate is the global population? Not very, according to two important reports, and that’s a big problem. There are significant economic consequences to this knowledge gap that underscore why financial education is essential for everyone.

Non-Residents in the Family: What’s the CRA’s Take?

Posted: July 17, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , tax preparation, CRA, investments, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, Essential Tax Facts, tax filing, tax courses, master financial advisor, distinguished financial advisor, employment insurance, retirement income, tax education, tax return, personal amounts, double taxation, cross-border tax, Canadians abroad, surtax, non-resident, Canadian emigrant, Canadian expatriates, tax treaaty, Canadian immigrants, non-resident tax, world income

Summertime is family time; but it is also the time of year when people prepare for big life changes taking place in the fall. Young adults make plans to work abroad, travel or go to school and empty-nesters journey to warmer climates. However, non-residency comes with tax consequences, so a visit to a tax advisor should be part of your travel preparation.

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!