Knowledge Bureau Education Days—Fall CE Summits

THEME: YEAR END TAX PLANNING

Focus on Family Business and Retirement Income Planning

Learn the details behind the Fall Economic Report and how new tax changes and 2020 economic forecasts with Canadian tax expert Evelyn Jacks, who will prepare you for tax season 2020 and the tax planning you need to do before year end with individuals, families and boomers who want to keep more of their income now and the value of capital in retirement. Then shore up your knowledge on corporate owner-manager compensation planning and the new passive investment income rules with family business tax expert Larry Frostiak, who will also cover retirement and succession planning in light of new tax rules for private corporations. Finally retirement planning author and portfolio manager, Doug Nelson will discuss the latest issues in retirement income planning.

Take advantage of reduced rates for early-bird registration until October 15.

Prefer a personal touch? Call toll-free 1-866-953-4769 for a one-on-one consultation.

What’s Included?

Receive outstanding year-end tax planning information from the top
experts in personal and corporate tax, and retirement and estate
planning, plus over $400 in extra value:

CE Credits*: IIROC, Insurance Councils, Knowledge Bureau, and other professional organizations.

Pre-session reading in EverGreen Explanatory Notes, plus a complimentary 3-month subscription.

Post-session: special tuition fees for online studies. You save $200
when you enrol in one of Knowledge Bureau’s educational offerings.

Comprehensive Knowledge Journal— your desk-top reference.

Outstanding networking opportunities with a diverse audience.

Great food (breakfast, lunch and coffee), valuable prizes and surprises.

*CE Credits are pending approval by regulators.

Winnipeg
Manitoba Club
November 4

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Toronto
Pearson Convention Centre
November 5

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Calgary
Marriott Courtyard Airport
November 6

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Vancouver
Sandman City Centre
November 7

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Who Should Attend?

These workshops are ideal for training new and returning staff working in independent tax filing firms, CPAs in public practice, financial services firms, public trustees, legal assistants, municipal officers, payroll and software companies who employ staff involved with any CRA remittances.

Professionals may earn: 10 CE/CPD credits

3.5 non-verifiable CE/CPD credits

6.5 verifiable CE/CPD credits

You can also participate in networking opportunities to build relationships across the financial services industry.

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Detailed Agenda

(Come back often as new details are released)

8:00 – 8:30 REGISTRATION AND COFFEE

Pick up your Comprehensive Knowledge Journal, meet our Special Guests and Delegates. Tuition Value Program: Take a sneak peek at special offers and tuition breaks for upcoming Knowledge Bureau programs and sign up on the spot for tuition reductions for CE Summit registrants only!

THOUGHT LEADERSHIP: ISSUES AND TRENDS

8:30 – 9:30 SESSION 1: TOPIC—YEAR END TAX PLANNING FOR INDIVIDUALS

KEYNOTE Speaker: Evelyn Jacks, President, Knowledge Bureau

In this election year several significant tax changes have been announced that point to a rethinking of our tax system. Learn the details behind the most recent statistics on the economy, new statistics about profiles of HNW clients, female investors, GenX,Y,Z and the boomers as we drill down and discuss what’s new in year-end planning for 2019 and tax changes coming for 2020. You will learn dozens of new ways to save your clients time and money with investment, retirement and estate planning options to implement before year end.

Additional educational resources: DFA-Tax Services Specialist™ Designation Program.

9:30 –10:30 SESSION 2: OWNER-MANAGER COMPENSATION, RETIREMENT AND SUCCESSION PLANNING

Special Guest Speaker: Larry H. Frostiak, FCPA, FCA, CFP, TEP

More than any time within the last decade, the time-tested paradigms for compensating owner managers and their family members of privately held corporations have changed. The new “tax on split income” rules have dramatically changed the game plan for owner managers. What’s even more significant is that these rules have been effective since January 2018, and there could be exposure and tax issues that you and your clients are not even aware of. Find out how these new rules apply, which structures still work and what remuneration planning can be implemented to meet owner cash requirements in advance of the year-end.

Additional educational resources: MFA™-Business Services Specialist Program Online.

10:30 – 10:45 NETWORKING BREAK AND SPONSORSHIP FAIR

BEST PRACTICES: MANAGING CLIENT RISK

10:45 – 12:30 SESSION 3 - CORPORATE TAX PLANNING WITH NEW PASSIVE INVESTMENT INCOME RULES

Special Guest Speaker: Larry H. Frostiak, FCPA, FCA, CFP, TEP

A second primary shift in our tax landscape is how business income will be taxed in a small business corporation if it (or an associated corporation) also earns a significant amount of passive investment income. These rules come into effect for 2019 for the most part. Will there be double taxes? Are there coping strategies which can be implemented? Not knowing the rules and basic planning concepts, or taking no action, could mean significantly more taxes payable by your clients. Find out more on how you can help as part of year end tax planning meetings.

Additional educational resources: Tax Planning for Incorporated Professionals certificate course.

12:30 – 1:00 MEET AND GREET NETWORKING LUNCH

ADVISOR ROUND TABLE: CASE STUDIES, Q & A

1:00 – 1:30 SESSION 4: ADVANCED CASE STUDIES FOR TAX AND FINANCIAL PROFESSIONALS

Special Guest Speaker: Christina Fazio, Home Trust

(in Winnipeg, Toronto, and Calgary)

Home Trust is focused on a unique segment of the Canadian marketplace: consumers who do not have traditional credit backgrounds and whose specific needs are not met by larger financial institutions. Home Trust offers competitive GIC solutions for Canadians from coast to coast. Learn more about fixed income investment products, GIC portfolio strategies and compliance requirements for GICs.

Additional educational resources: EverGreen Explanatory Notes, Knowledge Bureau Calculators

1:30 – 2:30 SESSION 5: OLDER CLIENTS—NEW ISSUES IN RETIREMENT INCOME PLANNING

Special Guest Speaker: Doug Nelson, B.Comm.(hons.), CFP, CLU, MFA™, CIM, RWM™

When the Federal Government unilaterally changed 40 years of historical precedent on how small business owners can organize their corporate structure and manage their profits, advisors have to provide different guidance to their entrepreneurial clients. More specifically, most small business owners will be restricted in how they can split income, or profit, with other family members, resulting in a higher family tax bill and potentially less flexibility in where and how to invest for retirement. So, the key questions, and challenges, for entrepreneurs approaching retirement are:

  • How do you minimize tax and maximize after-tax income today and in retirement, based on these new realities?
  • How can you effectively split income with other family members, in this new and somewhat vague tax regime, and continue to use this approach to minimize tax and build wealth?
  • How and where to best save and invest for retirement going forward?
  • Which source of income to draw from first, second and third in retirement, and why?
  • How has this process changed from advice that may have been given in the past?
  • Are there new risks that need to be managed?

Additional educational resources: MFA™-Retirement & Succession Services Specialist Program

2:30 - 2:45 NETWORKING BREAK AND SPONSORSHIP FAIR

SESSION 6: STANDARDS OF CONDUCT REVIEW

All clients are interested in knowing more about the quality of advice they are receiving and the accountability their advisors have to them.
In this session we will discuss the new Standards of Conduct for credentialled Knowledge Bureau graduates as a precursor to our next two sessions.

3:00 - 4:00 SESSION 7 - OLDER CLIENTS: NEW ISSUES IN RETIREMENT INCOME PLANNING

Special Guest Speaker: Doug Nelson, B.Comm.(hons.), CFP, CLU, MFA™, CIM, RWM™

For the past 20 years discussions have focused on the aging of the Baby Boomer generation. This demographic is now between age 53 and 73, with the single biggest age group in 2019 being approximately 63. Now that the bulk of this group is mainly retired, new issues are emerging:

  • How do we adjust the plan if one client requires care for an extended period of time while one spouse remains healthy and active?
  • How do we adjust the plan if clients have a shorter or longer life expectancy?
  • How do we measure the impact to their spouse?
  • How do we help the aging client continue to live with dignity when the family may wish for the client to be placed in care prematurely?
  • How do we help the aging client in a situation when it appears that someone (family members, or non-family members, a new love interest or a predatory phone solicitor), begins to take advantage?
  • In essence, how do we initiate these really hard conversations and create a plan to minimize harm?

This session is designed to help financial and tax advisors a) recognize the importance of these new emerging issues, b) learn how to identify emerging issues through either the client behaviour, changes to the portfolio or changes seen on the tax return and c) present ideas that can be incorporated into your practice that would position you and your team to play a crucial role for the client and their family.

Additional educational resources: MFA™-Retirement & Succession Services Specialist Program

LEADERSHIP AND ETHICS

4:00 – 4:30 SESSION 8: CROSSING LINES: LEADERSHIP & ETHICAL CONDUCT IN FINANCIAL SERVICES

Special Guest Speakers – RWM™ Society. Members of the Real Wealth Management Society will lead this important discussion in each city.

Leadership and professionalism are as much about ethical behavior as it is about the execution of precise expertise. As your client’s most trusted advisor, the credentialled professional must oversee the development of a strategy and the implementation of a process that enhances the overall financial well-being of the client, using the highest standards of conduct. This is a critical to build and maintain trust, especially within a multi-stakeholder environment. Moreover, standards of conduct build on and maintain the integrity of the industry you work in. This session will begin with an example of Standards of Conduct used by professionals, including the RWM™, MFA™ and DFA-Tax or Bookkeeping Services Specialist™, to maintain their license to use their credentials. Most important, it will feature an open discussion featuring two true-to-life case studies that bring into question the ethical behaviour of the client, a family member, the advisor or a different influencer and asks the audience to answer the question: what would you do?

Additional educational resources: Knowledge Bureau’s MFA™- Executive Business Growth Program

4:30 Closing Remarks and Certification

Verifiable Credits—6.5 In Class

Non-Verifiable Credits—3.5

Pick up certification

Attendee Experience

Applicable, valuable and immediate opportunity to add value for clients.

—L. Campbell, MB

Why is this Timely?

Every year there are significant tax and economic changes announced in federal budgets and economic updates from the Finance department. This information is necessary to facilitate end-to-end financial planning: from filing accurate and audit-proof tax returns, to planning investment, retirement, succession, estate and trust solutions.

These Knowledge Bureau Education Days will help you better serve your clients with deep knowledge and confident skills. Most important, you will be positioned to become a more trusted advisor in a multi-advisory team of professionals who help in end-to-end financial services: from banking to bookkeeping and tax compliance, to holistic family wealth management.

What’s Included?

Receive outstanding year-end tax planning information from the top experts in personal and corporate tax, and retirement and estate planning, plus $465 in extra value:

CE Credits*: IIROC, Insurance Councils, Knowledge Bureau, and other professional organizations.

Pre-session reading in EverGreen Explanatory Notes, plus a complimentary 3-month subscription.

Post-session: special tuition fees for online studies. You save $200 when you enrol in one of Knowledge Bureau’s educational offerings.

Comprehensive Knowledge Journal— your desk-top reference.

Outstanding networking opportunities with a diverse audience.

Great food (breakfast, lunch and coffee), valuable prizes and surprises.

*CE Credits are pending approval by regulators.

CE Summits - Fall 2019 Sponsors