A Challenge for New Clients: How to Choose a Trusted Advisor

If you’re in business for yourself, you have a unique opportunity to build wealth in an asset class that others don’t have: equity in a business enterprise that some day may be sold for millions of dollars. In addition, that business can spin off income for family members that can provide significant tax advantages, done well. Understanding how to realize on this asset requires the help of a trusted financial advisory team. Who should be on that team and how do you find them? This is a challenge your next new business clients may wrestle with. Here are some tips on how you can open discussions to help them:

Market volatility can bring unsavoury investment results. If you panicked and locked in your losses in your non-registered investment accounts, you may find that you are still stuck paying an investment loan. Is that interest going to be tax deductible? Read on to learn more:

A special gala event will honour Knowledge Bureau’s 2018/2019 designates at the Distinguished Advisor Conference November 10-13 in beautiful Puerto Vallarta, Mexico. Sponsored by Cadesky Tax, this gala event will honour those who complete their designation programs by August 15. Conference registration fees conference will be waived for this year’s designates. Those who finish their diploma programs (marking the halfway point in the designation pathway) tuition fees for the conference will be 50% off. 

Just over 2 Million Canadians are enrolled in post-secondary schools in Canada and about half of them incur debt to get through school. This, according to a recent survey by Maclean’s magazine, which also noted that nearly 2/3 of students don’t have an RESP. That means they have no Education Assistance Payments (EAPs) to fund education costs. Here’s how they work.

If you are a student at Knowledge Bureau, Kelly Malloy is a name that may sound familiar. She’s with you (literally!) as an undergraduate in the MFA™- Executive Business Growth Specialist designation program. Kelly, who is also the newest member of Knowledge Bureau’s team of Relationship Managers, helps students make decisions about courses and programs to accomplish their career goals; all while she’s enhancing her own training and knowledge.

On May 17, the finance department presented draft legislation to amend the Excise Tax Act to begin to treat cryptocurrencies in a manner similar to legal tender. The changes are deemed to have taken place on May 18, 2019 and introduce a new term: the virtual payment instrument.

Tax Freedom Day is coming soon! That’s the day you start working for yourself instead of government. In fact, in Canada, we spend a lot more time working for government than our neighbors to the south do.