KBR Halloween and Taxes – Both are Scary!

Geoff Currier

Halloween is a night for spooky things. Some adults would say, it’s a bit like the tax filing deadline. There are few things that can terrify even the bravest of us as much. When a new client comes to your door, keep this in mind. You have the potential to turn terror into, well fun. It’s true! Think about it. . .

Your Haunted House? You have spent years learning your trade and know all the ins and outs of the tax rules and how to navigate the complexities of dealing with CRA. You know the terminology associated with your profession. Your clients don’t understand any of those things. For them, your office can be the child’s equivalent of a haunted house.

Trade to blue right. F short, fake fox, QB keep pass right. Did you understand that? Unless you’ve played football at a high level the answer is probably no. That’s because this is pro football terminology. It’s what a quarterback might say in the huddle while calling a play. It instructs each player in the huddle what his responsibilities are on that play. Actually, what you just read was only a partial play call. It’s even more complicated but you get the idea. 

This is how intimidating it can be for many of us who are walking into your office for the first, or even the tenth time. You must now call upon your years of training and experience to ask the right questions about the decisions they need to make, interpret what’s new and translate that knowledge into a language your clients will understand.

Overcoming The Tax Bogeyman. This is not just a one-way street. Teach your clients how to ask the appropriate questions and not be afraid to look uninformed or even stupid. You can help them overcome their reluctance to ask those questions by reminding them that there are no stupid questions when it comes to their taxes, creating a safe haven from the tax bogeyman.

Overcoming Spooky Tax Jargon. You must guide them through the process of preparing their taxes but you can do it gently and patiently. As we’ve written before, you aren’t just in the numbers business. You are in the people business. Getting to know and understand your clients is akin to being a councillor and even a confidant. Hold their hands if you have to, but don’t spook them out with tax jargon.

Is this a Trick or Treat? It can appear that way sometimes, when CRA sends a refund and later asks for it back, with interest. That’s why building a year-round relationship with your clients is so important. Tax season never ends with April 30. There are tax filing milestones throughout the year.

Here’s a checklist of what’s happening in November for example. Can you decipher the acronyms fr your clients?

Tax Planning and Filing Milestones, November 2025:

• Nov.1:     File missed 2024 T1 return to qualify for automatic Canada Workers Benefits advances
• Nov 5:    Attend the virtual KB CE Summit on Year End Tax Planning for Owner-Managers, Snowbirds and Investors
• Nov 10:  OTB payment
• Nov 20:  CCB payment
• Nov 23 – 26: Attend the KB Acuity Conference in Puerto Vallarta
• Nov 26:  CPP, OAS, GIS benefits payment date
• Nov 26:  Canada Veterans’ Disability Benefit payment date
• Nov 27:  ACFB payment
• Nov 30:  Finish Year End Planning Review, Charitable donations plan

Review matured CSB, CPB, investment portfolios. Contact Bank of Canada Unclaimed Properties Office. 

Review donations strategies, transfer of shares with accrued gains to charity

Year-End Disability Plan: Make RDSP contributions for disabled persons, apply for matching grants and bonds

Year-End Education Funding Review – Top up RESP. 

Year-End RRSP Review – Calculate over-/under-contributions 

Stumped by the scary acronyms? Contact Knowledge Bureau for our complimentary 2025-2026 Tax Filing and Investment Planning Checklist. It’s a great way to engage your clients .

Bottom Line: Happy Halloween. May the ghosts of tax files past remain undisturbed and the upcoming tax season more pleasant than the nightmare of the one before! One way to do so is to shore up your knowledge at the November 5 Virtual CE Summit – the Federal Budget will be dissected and the mysteries of corporate owner-manager remuneration unveiled. 

The time you take to educate yourself now, will help you show your clients there’s nothing to be afraid of come tax time!

Check out the CE Summit Advanced Tax Planning and Compliance series online, with detailed agendas at learn.knowledgebureau.com/cesummits