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:

Become certified in Financial Literacy: Assessing Risk and Return. Develop confident and consistent solutions with your clients to better manage wealth by building a process and framework for getting results.

Knowledge Bureau has gathered top-class speakers for our upcoming Distinguished Advisor Conference, November 10-13, 2013 in Ojai, California.

Increase Your Cash Flow Calculator – Cash flow and income are two different things, but it may be all the same to your clients: How much do I have to spend each month? The difference is the real money they get to keep after taxes. Try the Cash Flow Calculator risk free!

There are lots of ways to do better for yourself at tax time; starting with the filing of your tax return as soon as possible if you missed the April 30 deadline.

Federal Auditor General Michael Ferguson released his Spring Report on April 30th, including an audit on the Canada Revenue Agency’s struggling effort to collect tax debts owed by Canadians in the last few years. How bad has their performance been?

In the House of Commons last week, Ministers Flaherty and Menzies tabled a detailed Notice of Ways and Means Motion in order to begin the implementation of tax measures initially introduced in the March 21, 2013 Federal Budget.