Proposed AMT: Wealth sustainability at risk for both HNW Donors & the Community
Most donors with higher net worth portfolios know that donating appreciated publicly traded securities, and other financial instruments such as mutual funds, segregated funds, and exchange traded funds, is a great way to amplify giving potential with tax savings. It’s a triple win: a leveraged opportunity to support community causes and a great tax and estate planning opportunity for the taxpayer and their survivors. But there are tax clouds on the horizon. Wealth managers, and in particular RWM™ (Real Wealth Manager) and MFA-P™ Designates are well positioned to help assemble a multi-stakeholder solution, but need to take action now.
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Break Free to Transformative Change
Fifteen outstanding organizations have come together to support the 20th Annual Distinguished Advisor Conference November 12-14 at the beautiful Banff Springs Hotel. You don’t want to miss hearing from the thought leaders representing these fine organizations with mission critical topics to the theme: Imagine – Break Free to Transformative Change.
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Adapting to the Generational Wealth Gap: A Call to Financial Advisors
In this final installment of our three-part series on the financial challenges facing younger generations in Canada, we delve into the role financial advisors can play in guiding their clients through these tough economic times. In the first part of the series, we analyzed the alarming rise in consumer and business insolvencies, particularly among younger Canadians, drawing attention to the gravity of the situation. The second part of the series provided insights into the potential benefits of referring financially struggling individuals to Licensed Insolvency Trustees, rather than resorting to immediate bailouts. Now, in this third part, we explore how financial advisors can become better equipped to advise their clients on managing debt and planning for future financial security.
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Buying and Selling Cars? Get Some Tax Advice
Cars are hot commodities these days. While auto sales declined by close to 8% in 2022 over 2021 this year is much brighter for auto dealers, with a 4.4% increase in sales in the first quarter. The forecast for North American auto product is also good – expected to rise by 9.3% to 15.5 million units in 2023. Buying and selling cars has tax consequences for taxpayer who take auto write-offs, and the rules are complicated in particular for Capital Cost Allowances (CCA) claims, recapture and terminal loss. In this report, we’ll zero in on existing car disposals.
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The Age Pyramid: How Well Do You Know Your Next Clients?
Demographics are changing rapidly in Canada. Statistics Canada recently released an interesting study of demographics in Canada and a visual that depicts how the generations stack up, numbers wise, and most important, what their age-related tax and financial issues are. The professional who gets this right is truly well positioned as an “advisor for the future”.
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