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:

Stephen Covey was right...it pays to sharpen the saw.[1]

Canadian National Railway Company v McKercher LLP and Gordon Wallace, 2013 SCC 39

Self-employed taxpayers who are receiving a CPP retirement pension must continue to contribute to CPP until they are at least 65. 

The rules differ for spousal and child support, as explained below.

According to a Canadian Institute of Actuaries (CIA) study published by advisor.ca, the life expectancy of a 60-year-old male today has increased by 2.9 years (from 24.4 to 27.3 years), while the life expectancy of a 60-year-old female has increased by 2.7 years (from 26.7 years to 29.4 years).

With back-to-school just around the corner, there are several important recent tax issues for students that will be helpful to keep in mind for the year ahead.