Mark Your Calendar: Critical Deadlines for May and June

Tax season never truly ends, it seems, as there are many more upcoming tax filing, investment planning and education milestones to discuss with your clients over the next six months. Check out our handy checklist below and then test yourself – what are the conversation openers you’ll use and with which clients? It’s your opportunity to shine with every member of the household:

New rules pertaining to prepaid credit cards took effect on May 1. Finance Minister Joe Oliver held a press conference on April 30 in Ottawa to introduce the new measures that were designed to protect Canadian consumers.

As per subsection 118.1(3) of the Income Tax Act (the Act), an individual may claim a tax credit with respect to a gift made to a registered charity. The amount of the tax credit is determined by the amount of the gift.

Details for a new Ontario Retirement Pension Plan (ORPP) were included in the May 1 Ontario budget and have become an election issue there. Some disagree that the plan is necessary; others are concerned about the immediate economic costs.

Doug Nelson is author of the newly released Master Your Retirement and discusses the "laws" of retirement planning.

When a non-resident, non-U.S. citizen individual goes to the U.S. to work and live temporarily, after their term is almost up and they are contemplating staying in the U.S., many wonder if they should be applying for a U.S. green card rather than renewing their temporary work visa; however, most of the time they don't realize what it means to apply for and obtain a U.S. green card.

Your marginal tax rate is linked to your tax bracket and analyzes how much you’ll pay on the next dollar you earn from various income sources. This is an important concept too—not all income sources are taxed alike.