Mark Your Calendar: Critical Deadlines for May and June
Tax season never truly ends, it seems, as there are many more upcoming tax filing, investment planning and education milestones to discuss with your clients over the next six months. Check out our handy checklist below and then test yourself – what are the conversation openers you’ll use and with which clients? It’s your opportunity to shine with every member of the household:Family Dynamics Aside, Income Was Reportable
An argument that is mathematically possible will not avail a taxpayer who is found by the Court not to be credible. That was the unfortunate result for a taxpayer who took on CRA in a case of unreported income.
Six Reasons Why: TFSA a Powerful Wealth Builder for Millennials
Last week we discussed reasons why an increased TFSA contribution limit is very helpful in building wealth for seniors. But the TFSA is an even more powerful tool for millennials, who should maximize their contribution room to build a tax-free retirement surplus that is potentially increased by the longer compounding time afforded to the young.
Four Major Trends Affect The Financial Office Of The Future
We’re in the midst of one of the biggest platform shifts in a generation and our data shows that there is a new 24 hour expectation of service that comes with it, says Rachelle Amyotte, Intuit Canada’s Accountant Business Development Leader, who will be a keynote speaker at the Distinguished Advisor Workshops.
Knowledge Bureau Online: an Ambitious New Publishing Program
Knowledge Bureau is pleased to announce another five certificate courses will be published by the end of October to cap an ambitious year of renewal in the content management division.
TFSA Rollback Would Affect Seniors and Youth
Especially in a low interest rate environment where it is difficult to beat inflation and tax erosion without incurring market risk volatility, any rollback of the TFSA contribution limit to $5500 from the current $10,000 would affect seniors, as well as young adults trying to save for their futures, too.
FACTA: Financial Info Sharing Deadline is September 30
As of today millions of taxpayers’ financial information will be shared between US and Canada under FACTA. Financial advisors, institutions and account holders all face increased reporting and due diligence requirements and, as a result, advisors are reminded to review their clients’ citizenship status to ensure that proper records are in fact available to the reporting financial institution.
