Seniors Targeted? The Tax Audits Begin
The Canada Revenue Agency (CRA) routinely reviews or audits tax filings, including personal, trust, corporate, and HST returns. The most common types of reviews that focus on personal tax returns include, but are not limited to, Pre-Assessment Reviews, Processing Reviews, and the Matching Program. This year there is a new focus: the Multigenerational Home Renovation Tax Credit introduced to help families better care for their elders. But claiming it, like other tax benefits, comes with a tax snare. Read on to learn more.TFSA or RRSP? Pros Vote for TFSA Top Up
Should Canadians top up their TFSA to get a jump on tax free savings in 2016 now that annual contributions have been capped at $5500, or should tax savings with an RRSP contribution be top priority now til the RRSP deadline of February 29, 2016?
DAW Welcomes National Sponsor Liberty Tax
Knowledge Bureau is pleased to announce Liberty Tax will join the January Personal Tax Update Workshop tour as a national sponsor. Liberty Tax has more than 4,400 offices in North America, including 270 Liberty Tax Service offices in Canada.
Designated Advisors in Tax and Wealth Advisory Services in High Demand
At this time of year, professional tax and financial services are looking for highly qualified personal tax professionals for seasonal tax preparation and planning work Knowledge Bureau’s Distinguished Financial Advisor (DFA) – Tax Service Specialist™ designation bring you up to speed quickly with its online programs; in fact you (or your staff) can begin today.
Director’s Liability and Non-Arm’s Length Transfers
The Income Tax Act and the Excise Tax Act allow the Canada Revenue Agency (CRA) to transfer the tax liability of a taxpayer onto third parties. There is a very distinct role for the tax and financial advisor in assisting their clients with this issue. This and more will be discussed at the upcoming Distinguished Advisor Workshop (DAW), with featured guest speakers in Vancouver Jan. 22 and Toronto Jan. 25.
Family Tax Essentials By Evelyn Jacks
Now available ebook or hard copy.
"Evelyn Jacks shows Canadian families how to use tax planning to save thousands over the years through family income splitting and asset accumulation. This book is a must-read if you want to build wealth and achieve your financial goals." Gordon Pape, bestselling author of Tax Free Savings Accounts.
Life Purpose
"I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel." Maya Angelou
