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.
Are you tightening your belt on holiday spending. . .or will there be a lot more than a lump of coal in your Christmas stockings this year? There are few things worse than having bills come due without money in the bank to cover them. But, for far too many Canadians, it is a reality more often than we would like to admit. That’s why Advisorsavvy has put together a list of budgeting and debt management tips for us to share with you.
Soon, a new decade begins and Canadians face a number of financial challenges, including the growth of debt-to-disposable income levels. Plus for seniors, there is the prospect of diminishing pensions as they face stock market volatility. Against this backdrop is the opportunity for tax and financial advisors to provide care by sharing more of their tax and financial knowledge in 2020.
CRA will shut down EFILE Services for T1 transmissions on January 17, 2020 to convert their systems for the next filing season. Enrol to attend Canada’s most comprehensive 2019 T1 Tax Update, the Knowledge Bureau’s CE Summit 6-city tour, that starts January 16 so you can use this time to get everyone on your team well trained. It’s a must-do for professional tax, bookkeeping and financial advisors.
As long as there are businesses, there will be a need for bookkeepers. According to the Department of Employment and Social Development Canada (ESDC)*, the outlook for employment opportunities for Bookkeepers over the next three years looks promising for those looking to join the industry or continue in it, especially in the Maritimes, Quebec and Manitoba. Here are the top 10 reasons to consider a career in Bookkeeping:
We recently had the opportunity to speak to Melanie Adams about her experience taking Advising Family Business as part of her second designation with Knowledge Bureau. She previously earned her DFA – Tax Services Specialist™ designation and is now working toward her MFA™ - Business Services Specialist designation. Here’s what Melanie had to say:
Seasonal workers beware: if you collected Employment Insurance (EI) benefits during your off season, there’s a chance you could have to pay back some of the benefits you received. For the 2019 tax year, the base amount for EI repayment is $66,375. That means if net income exceeds this threshold, an EI repayment may be necessary. But, with savvy planning you can avoid this unpleasant surprise.