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:

In 2020, a large number of taxpayers are working from home due to workplace restrictions imposed by governments due to the COVID-19 pandemic. The current requirements for claiming home office expenses are very strict, and the reporting is rather cumbersome.  But CRA is working on a solution.

The Canada Emergency Response Benefit (CERB) has already been repaid by hundreds of thousands of recipients for various reasons:  program ineligibility, application errors, CRA processing errors and more. Some of the same issues now plague the new Canada Recovery Benefit (CRB), and it may be in part due to a computer glitch.

The pandemic has disproportionately affected older disabled people, with those aged 60 and older accounting for one-third of COVID-19 cases nationally, according to Statistics Canada.  Tax and financial advisors can do much to help with the financial costs that flow from this, by ensuring that those who may qualify for the Disability Tax Credit for the first time, act now to get a T2201 form signed by a medical professional. 

New Knowledge Bureau Designate, Candice Jay, CIM, FCSI, MFA-P™ has some exuberant advice for financial professionals who are looking for new ways to re-engage their enthusiasm during the pandemic marathon:  always be curious and dive into life-long learning!  Her engaging interview about her new credential as an MFA-P™ (Philanthropy) follows:

Join Knowledge Bureau President, Evelyn Jacks and Special Guest Instructors at the next Virtual CE Summit on November 18. This comprehensive virtual workshop also features a thorough online course:  everything you need to know to thoroughly understand the opportunities for tax, investment and estate planning both inside and outside the small business corporation.

Did you know that we give you the option to try out online courses before you enrol? Get a feel for our curriculum by enrolling in a free course trial.