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:

Investment Advisors: Here's a great client gift for April – buy 3 books, get 1 free! Jacks on Tax will help your clients save time and money by understanding their returns and taking better control of their financial affairs. It’s a book for everyone because its premise is simple: a more informed taxpayer, working with a collaborative professional community, will get more out of the tax system now and in the future.

Working with Small Business Owners? Introduce them to the Basic Bookkeeping for Business course. Most family businesses involve the spouse or children in bookkeeping activities. Now they can increase confidence and understanding by enrolling family members in a certificate bookkeeping course. It helps the pros to use their billing time more effectively as well! Free trial available!

In a controversial budget, Manitoba raised its Provincial Sales Taxes by 1% to 8% effective July 1, 2013 over a “temporary” 10 year period, waiving the requirement to hold a referendum, citing reasons of financial urgency due to potential flooding.

Knowledge Bureau's Evelyn Jacks and Alan Rowell, and David Caron and Sean Nazarian of Thomson Reuters will be leading you in this May's Distinguished Advisor Workshop: Audit Defence Bootcamp.

Should you draw from the CPP early? With many new changes to the plan starting in 2012, this calculator will help you answer that question by determining break-even points along the way, while explaining the new rules and criteria. Try it with a free trial!

Over the last couple of weeks, the provincial governments in the Atlantic provinces brought down their 2013 provincial budgets.