AUTHREP Changed July 15

Since July 15, the "Authorize a Representative" service in EFILE, accessed through tax software, will no longer be available. Tax professionals must now use the Represent a Client (RAC) portal to request online access to a client’s account.

A demographic shift has been happening since 2000: the Canadian population continues to age and live longer, such that the number of seniors is becoming larger than the number of young people under 20, according to Statistics Canada. Financial advisors need to be concerned about the “new” Sandwich Generation.

"Most people spend more time planning their summer vacation than planning their lives." —Author Unknown

Now that the rush of tax season is over, how did your clients do? Were they faced with a big tax bill or did they receive a refund? Perhaps they feel as if they’ve had a less than stellar fiscal year, but they shouldn’t feel discouraged. As you know, mid-year is a great time to review financial goals and to make necessary changes now to ensure a better outcome next year. 

This year’s Distinguished Advisor Conference marks the fourteenth year of DAC. It’s become a great tradition in the world of financial education, and there has never been a better time than now to attend. At this year’s conference in Kelowna, B.C., our speakers will be presenting information and solutions that are relevant to today’s issues. 

Here’s a true-to-life case study: Let’s suppose that you, as a bookkeeping services professional, have a client named George, who is the owner-manager of a family-run restaurant. Working with George is his wife, brother, sister-in-law, a couple cousins and his teenaged daughter. While the business is going well, his marriage isn’t. 

Grant McPhail, CLU, CHFC, GBA: Wealth Advisor and proud grandpa