No More Sworn Testimony, But Audits Are Still Stress Inducing

“That” Phrase: it’s one no taxpayer wants to hear – digitally or otherwise. “You’re being audited.” If you’ve had to deliver that news you’ll know that the reaction can range from indignity to shock to panic. Based on the latest piece of legislation before Parliament, you might have to tell more of your clients to buckle up, it’s going to be a bumpy ride. CRA will now have greater powers. Consider this:

Advisors should inform their high net worth clients of recently enacted changes to tax benefits arising from the use of trusts. 

One of the more difficult decisions for those approaching retirement is when to start receiving their CPP retirement pension. 

Last week we covered Foreign Income Verification Reporting, Form T1135 in general along with the basic requirements of foreign holdings reporting.  This week we’ll look at the form in detail and cover some of the specific reporting requirements.

Substantial tax reform has recently changed the rules for post-death planning for high net worth families.

Have you reserved your spot at the 2015 Distinguished Advisors Conference (DAC) yet?

It’s February – no time to waste.