Top Three Reasons to Grow Beyond a One- or Two-Person Practice

Tax, accounting, and financial services professionals are navigating a period of rapid change. New technologies, increasingly complex regulations, and growing client expectations are reshaping how advisory services are delivered. For many practitioners working alone or with very small teams, the challenge is not simply keeping up with technical change, but finding the time and capacity to manage growing demands while continuing to deliver high-quality advice. That is the focus of the Business Builder Summit on March 25, a live-virtual event designed to help professionals shift their mindset from practitioner to CEO of a growing advisory practice.  Why does growth matter? Consider three key reasons.

This is our special wish for you throughout the holidays!  Thank you sincerely for your readership and support. . .we look forward to sharing knowledge with you in the New Year!   

Join us in Beautiful Banff November 11-14 at the spectacular Banff Springs Hotel for the Distinguished Advisor Conference (DAC).  You won’t want to miss the outstanding special guest speakers, the Snow Ball Gala celebrating our 20th Anniversary, and the opportunity to give the gift this extraordinary Educational Extravaganza to your most dedicated team members!

You can’t afford to miss this if you are a professional tax accountant, bookkeeper or financial advisor!  Your clients are counting on you for accurate tax filings, sound tax planning advice and the recommendations to the correct investments as inflation and high interest rates interrupt financial peace of mind.   Check it out and register now.

Is the Grinch in the house?  The interest rate hikes just haven’t stopped in 2022.  On December 7, the Bank of Canada (BOC) increased policy interest rate again by 50 basis points, leaving many Canadians worried about the effect on their finances in 2023. Currently, the overnight rate is 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%.  But this translates to much higher costs on various debt transactions: operating lines, lines of credit and mortgages.  Is there a silver lining?

Why don’t more taxpayers – and charities – know more about gifting securities in kind?  It’s an expeditious way to support your favorite charities during inflationary times.  Donations for the purposes of 2022 tax credits will be accepted until December 30, but it’s important to leave settlement time for the transfer or securities.

The April 2022 federal budget, introduced a Labour Mobility Deduction for skilled tradespeople and apprentices who need to temporarily relocate for work and it’s important to advise eligible taxpayers about this before year end so they can find receipts to back up the claims retroactively to January 1, 2022.