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:

Knowledge Bureau’s Business Valuation for Advisors course will help an advisor become a valuable resource to their clients when considering business valuation issues.

How will the anticipated changes to the Family Tax Cuts under a new Liberal government look? We’ve crunched the numbers for you. The next Federal Budget and the 2016 indexing factors will confirm actual results; however, in reviewing estimates, we found a couple big winners: lower income families with children, and no income refundable tax credit filers with children.

Indexation of tax brackets and personal amounts for 2016 is determined by the average CPI numbers for the twelve months ending September 2015 (which were announced last week).

It appears unlikely that investors who have already maximized their TFSA contribution room to $10,000 in 2015 will be asked to remove the extra $4500, should the new government make good on their pledge to repeal the $10,000 maximum contribution in favor of a $5500 annual amount.

We are very happy and relieved to provide you with this update on DAC 2015 in Puerto Vallarta: the Westin Resort and Spa has reported there are no damages; staff have returned as well, reporting no damages to their homes; and everything appears to be operating as normal—including the sunshine—after the tremendous scare from Hurricane Patricia on Friday.

Chenine Humphrey, owner of Paper Trail Bookkeeping and Business Centre, is on the move! In the process of moving her existing bookkeeping practice to a commercial location where she will be launching an innovative new service to help bookkeepers.