Tax Avoidance, Financial Stress & Well Being
Earlier this month, Statistics Canada published a report titled Stretching the Loonie: a time series analysis of financial difficulty and quality of life. The report is based on a nation-wide survey and the results are concerning. They reveal a serious trend and it is possible this is contributing to the late filing trend we are seeing this tax season.CERB Confusion: Gross or Net Income?
The Grinch just keeps showing up at the doorway of Canada’s ailing small business community. Due to a lack of clarity on the definition of qualifying income levels for the receipt of the Canada Emergency Response Benefit (CERB), many now face the prospect of repaying as much as $14,000 along with some unwelcome tax complexity. Help from a local tax specialist could help.
TFSA or CPP? A Business Owner’s Dilemma
Over age 65 and still working? Should you stop contributing to the CPP at age 65 in favour of a TFSA contribution? It’s a commonly asked question. In fact, the TFSA has an especially important multi-generational role in 2020.
November 30 Economic Report: Employee Stock Options
The federal government confirmed that a cap will be applied to the preferred tax treatment of certain employee stock options in their November 30 Fall Economic Statement. A correction has been made to our Special Report in regard to this figure.
More People Consider Retirement in Pandemic Challenge
Will COVID-19 push you into retirement? It’s a concept for the times as more teachers, health care workers, business owners and others face their exhaustion from the changes forced upon them by the devastating COVID-19 pandemic. Others have faced job termination before choosing their own retirement date. Fortunately, a new edition of Master Your Retirement by best-selling author Doug Nelson, CFP, CLU, MFA™, RWM™, CIM can help. We asked Doug why he wrote the book and how it will help with these important deliberations.
Esteemed Tax Specialists Prepare Pros for Tax Season 2021
Are you training new and returning staff working in independent tax filing firms? Are you a CPA in public practice, a financial advisor, public trustee, legal or financial assistant, municipal officer, payroll or software company serving individuals and business owners with tax compliance? Knowledge Bureau’s acclaimed Advanced T1 Tax Update 2021 for 2020 T1 Returns has gone to a live, virtual format to provide a detailed refresher for a national audience. Join us for the live event on January 20, 2021, then complete the comprehensive Line-by-Line Advanced T1 Tax Update Course online. Early registration ends January 15.
Winter Study Sprint: Enrol by December 15
It’s a good time to register for our new Winter Study Session: we’re calling it a training “sprint” and it runs from December 16 to February 15. You can start anytime at your convenience, but here’s the advantage: you’ll have another professional credential under your belt before tax season. . .and you’ll save an extra $50 on certificate course tuition, too. Here’s a sneak peek at our newly published courses for the winter session:
