Canadian Dental Care Plan Renewal Deadline Approaches

Know Your Client!   It’s a daily commitment and requirement, especially in the work that financial advisors do with their clients.   It’s imperative that you ask about any significant changes in their lives. Has there been a significant new event:   a move to take a new job or go to university, a marriage or divorce, a new birth, a disability or a death? And, in the case of income tested benefits such as the Canadian Dental Care Plan, (CDCP) do they qualify?  Did they file their tax return on time to get it?  Do you know the deadlines for doing so?  Do you know when coverage ends if your client now longer qualifies?

For a limited time, we’re extending a special online learning offer to all of our KBR readers. With the holidays right around the corner, you might just find the time to sharpen your skills in professional tax preparation, bookkeeping or retirement planning with a new certificate. Learn in your slippers in front of the fireplace, or on the beach in a southern retreat – it’s up to you! Now, you can save $200 when you enrol in your next online course, but only until November 22!

In the market for a new car before year-end? Take the time to visit your tax advisor first. He or she can take the time before the holidays to help you consider your after-tax options and evaluate the best approach to acquiring this asset; as debt management is likely part of the equation.

Business owners: the burden of proof in an audit is on you. That’s the message the CRA is sending to businesses since close to $1.2 billion has been identified (but not necessarily collected) through audits of small and medium-sized enterprises (SMEs), which represents a big win for the tax department. So, what can you do to prepare a potential defence before year-end should your business be next?

Medical expenses are among the most commonly overlooked tax provisions and it’s important to pay attention to unreimbursed medical expenses and to claim them as they can be used to reduce taxes payable. CRA has a list of over 130 claimable medical expenses. Here are some odd medical expenses you don’t want to miss:

DAC 2019 in Puerto Vallarta, Mexico is in full swing this week and Day 3 is underway today. It has been an outstanding conference in every respect, with all the speakers hitting their topics out of the park with passion, cutting-edge insights, and highly engaged delegates discussing resilience and competition in a dramatically changing world.

Advanced 2020 Personal Tax Update - Join Canadian tax expert Evelyn Jacks and special guest instructors from across Canada who will update you on the latest personal tax changes on the tax forms and dig deep behind the lines so you can find every tax deduction and credit available to the families you do tax returns for. Train your new seasonal and returning staff and save money by booking a whole table. This popular event sells out every year so enrol early.