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?

Bountiful is literally not on the map. It is the name that the Mormon fundamentalists call the community based at Lister, just a kilometer north of the U.S. border and seven kilometers from Creston.

Got a toothache? Need more prescriptions? When you move up your medical appointments to before year-end, you may also increase your tax refund. That makes a visit to your dentist, eye doctor, or medical doctor a tax wise strategy at year-end.

I am excited about our upcoming national workshop tours with Cameron Peters, President of Trilogy Software, Larry Frostiak, FCA, and Alan Rowell, MFA, DFA-Tax Services Specialist.

With year-end tax planning now in our thoughts, one investment option to consider is the Tax Free Savings Account (TFSA). 

What happens with income earned after death? Most payments received by the deceased after death will have to be returned.

Training costs will not be deductible if they are considered to be “capital” in nature—that is, if they result in a lasting benefit to the taxpayer.