Did you know that the Disability Tax Credit is not only lucrative when it is claimed on the tax return, but it is required to enable fifteen other provisions on the return. There is so much money left on the table when this provision is missed. Here are the additional provisions, and why working with a DMA™ Personal Tax Services Specialist is so important. In fact, it’s not too late to get this credential yourself before the start of the tax season.
When the new Canada Recovery Benefits become available later this month, it will come with a cost. If the recipient’s net income for the year from other sources exceeds $38,000, they will be required to repay 50% of the lesser of the CRB received and their net income in excess of $38,000.
The true financial test on how well Canadians will weather the financial storm brought on by the pandemic will occur in the months to come. A glimpse into that future is well described in a June 2020 report from the Bank of Canada. It suggests three catalysts, working together, that can lead to successful financial recovery:
Should you buy a new car before year end to reduce your 2020 taxes? It’s a good question especially because lucrative new tax rules were put into place for the write-off of most capital assets* on November 21, 2018. Taxpayers can in fact, triple up on the usual first-year tax deductions when they acquire assets in the period between November 20, 2018, and December 31, 2023, and put them into use before 2028.
This year’s DAC Conference brings together an esteemed faculty of speakers whose thoughtful focus will be on rebuilding financial confidence for the thousands of clients the audience will serve this year. It’s a groundbreaking and must-attend event, and the only one-of-its kind for tax, bookkeeping and financial advisors who wish to meld skills and collaborate to raise the bar in providing high value services to their clients. Featured topics and speakers are:
Knowledge Bureau is pleased to recognize the achievements of its graduating class July 2019- June 2020 at the Virtual Distinguished Advisor Conference (DAC), October 28-30. Be sure to find yourself and/or your colleagues and friends on the honor roll and graduating class list of Designates below. Congratulations are in order for all!
When the new Canada Recovery Benefits become available later this month, it will come with a cost. If the recipient’s net income for the year from other sources exceeds $38,000, they will be required to repay 50% of the lesser of the CRB received and their net income in excess of $38,000.
Financial and insurance advisors, lawyers, accountants, bookkeepers, tax practitioners and gift planners…
The true financial test on how well Canadians will weather the financial storm brought on by the pandemic will occur in the months to come. A glimpse into that future is well described in a June 2020 report from the Bank of Canada. It suggests three catalysts, working together, that can lead to successful financial recovery:
Should you buy a new car before year end to reduce your 2020 taxes? It’s a good question especially because lucrative new tax rules were put into place for the write-off of most capital assets* on November 21, 2018. Taxpayers can in fact, triple up on the usual first-year tax deductions when they acquire assets in the period between November 20, 2018, and December 31, 2023, and put them into use before 2028.
This year’s DAC Conference brings together an esteemed faculty of speakers whose thoughtful focus will be on rebuilding financial confidence for the thousands of clients the audience will serve this year. It’s a groundbreaking and must-attend event, and the only one-of-its kind for tax, bookkeeping and financial advisors who wish to meld skills and collaborate to raise the bar in providing high value services to their clients. Featured topics and speakers are:
Knowledge Bureau is pleased to recognize the achievements of its graduating class July 2019- June 2020 at the Virtual Distinguished Advisor Conference (DAC), October 28-30. Be sure to find yourself and/or your colleagues and friends on the honor roll and graduating class list of Designates below. Congratulations are in order for all!
