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:

New Governor of the Bank of Canada (the Bank), Stephen S. Poloz, told a Vancouver board of Trade audience last week that the key to economic growth in Canada lies in the creation of new businesses which in turn, create new jobs, and the new income required to propel our economy forward in the near future. 

It’s my favorite time of the year: with the beauty of fall comes the opportunity to arrange your affairs within the framework of the law to pay only the correct amount of taxes in 2013—no more.

In its Backgrounder to the new Section 237.3, which defines reportable tax avoidance transactions that may be subject to the General Anti Avoidance Rules, Finance Canada has assured taxpayers that the provision, is for “administrative purposes only” and therefore it is unlikely that it will be used to incriminate a taxpayer. 

On September 20, the Canada Revenue Agency (CRA) announced that it would revoke the registered charitable status of the Islamic Society of North America (ISNA) Development Foundation.

If you are running an incorporated business you may be in financial position to supplement your RRSP with an IPP, which is a defined benefit pension plan. The IPP offers both maximum tax relief and a maximum retirement pension.

The kids are back in school and now you're back to that job you never liked anyways...