The Emergency Pandemic Benefits Response
Online Course

Hear 9 recorded speaker sessions,
and earn 10 CE credits, too.

Don’t miss this important opportunity to give high-value advice to your financially-stressed clients.

Every professional in the tax, bookkeeping or financial services must know how to sort through the chaotic myriad of benefits and their tax-audit pitfalls.

The Emergency Pandemic Benefits Response Course<is now available and features 9 recorded speaker presentations.

This course features outstanding, detailed content on the tax and financial planning effects of an unprecedented event that will impact individuals, families and
businesses alike today and in the future. The value is priceless: your clients want to know how to access support in their most difficult financial hours. Feel more confident and in-the-know about the government supports – and significant debt and audit risk – your clients might be signing up for.

Bottom line: when you help your clients quickly navigate their way to financial relief now, you’ll be better positioned
to be their most trusted advisor as the world enters a post-pandemic
recession.

Theme: Sound Advice for Tough Times - Planning for Income and Business Recovery

Regular fees: $695. Save until May 31.

Access Your Comprehensive Knowledge Journal, Quizzes and EverGreen Explanatory Notes in the Virtual Campus as soon as you receive your enrolment confirmation. Study at your leisure out of your favourite self-isolation space, or study using Microsoft Teams or other platform, with your business colleagues or staff. Check out your Virtual CE Summits Tuition Value Program and Prizes.

Final deadline: July 15, 2020

Topics

Knowledge Bureau President and tax expert Evelyn Jacks will be joined by a number of guest instructors, who will focus on the following topics:

  • The Postponed Tax Season
  • The Business Owner’s Dilemma: Job Termination in a Pandemic
  • Multi-Stakeholder Income and Business Continuity Planning
  • Personal Pension Planning
  • Tax Efficient Global Investment Strategies in 2020
  • A Deeper Dive: Personal Loss Deductibility and Passive Investments in a CCPC
  • The Wake-Up Call: Adding Financial Peace of Mind to PoA and Will Planning

Your Esteemed Instructors

Learn more about the esteemed instructors of the Emergency Pandemic Benefits Response Course.

Detailed Agenda

(Come back often as new details are released)

PART 1 - CURRICULUM

Part 1 - Your Online Training to be Completed by July 15

Access your comprehensive Knowledge Journal, Meet our Special Guests and Delegates in the Knowledge Bureau Virtual Campus. Listen to the overview of your online lesson with Evelyn Jacks and check out your Virtual CE Summits Tuition Value Program and Prizes: Take a sneak peek at special offers for upcoming Knowledge Bureau programs and sign up on the spot. These offers are for KB Education Day Registrants only! Find out about today’s prizes,too.

CURRENT ISSUES AND TRENDS IN TAX AND WEALTH MANAGEMENT

CHAPTER 1

THE POSTPONED TAX SEASON – ANALYSIS AND COMMENTARY - How Pandemic Emergency Response Affect 2019/2020 Tax Filings.

Canadians need to regain financial peace of mind in these difficult times. But most people don’t know how to access the various emergency financial measures and, even more important, how to make the right decisions about their tax status or repayment requirements. Learn the details of the COVID-19 Emergency Relief Provisions:

  • CRA: Strategies resulting from tax filing, remittance deferrals and audit relief
  • Individuals: Accessing income supports for families, individuals, retirees
  • Business assistance: Various Wage Subsidy Provisions for Businesses (100%, 75% and 10%), EI/CPP source remittance refunds and EI work sharing programs, the CECRA and RRRF
  • Credit extensions: Debt management issues arising from access to new credit and guaranteed loans for business
  • New tax and financial strategies presented by these changes and why an RWM multi-stakeholder approach to life planning is so important at this time

Faculty Member: Evelyn Jacks, MFA™, DFA-Tax Services Specialist™, President, Knowledge Bureau.

Additional Educational Resources: EverGreen Explanatory Notes™

CHAPTER 2

HIRING AND REHIRING EMPLOYEES

The pandemic has had a significant effect on the health of Canadian small businesses and for some, survival, valuation and succession planning all have dramatically changed. This session will explore the critical issues business owners face around business continuity and survival. We will discuss the measures business owners can take to protecttheir capital in the event of catastrophe.

Faculty: Philippe Richer, TRL Law Office

Additional Educational Resources: EverGreen Explanatory Notes™

Designation Program Option: Recommended is the MFA™- Independent Practice Management Program

BEST PRACTICES: MANAGING RISK TO YOUR BUSINESS

CHAPTER 3

THE BUSINESS OWNER’S DILEMMA: JOB TERMINATION IN A PANDEMIC

Employers are required to follow labor laws in managing their responsibilities to their employees. Following the start of the current crisis, the government brought some interim relief. Employers who had to lay off staff, were immediately liable to pay certain benefits, like vacation pay and severance. Find out more about the rules that surround labor starts and stops, how to best advise both employers and employees, and how to revisit new employment contracts and remuneration options in this informative session.

Faculty: Philippe Richer, TRL Law Office

Additional Educational Resources: EverGreen Explanatory Notes™

Designation Program Option: Recommended is the MFA™ Independent Practice Management Program

CHAPTER 4

PERSONAL PENSION PLANNING - With Special Guest Sponsor, Integris Pension Management Corp

Pandemic? Market Crash? There is Good News… the Personal Pension Plan offers many legal features to protect small business owners andtheir families including: (1) creditor protection under pension laws (2) super priority under bankruptcy statutes (3) ability to create new registered room through the use of special payments to go ‘bargain hunting’ in a depressed stock market (4) should death occur, the ability to provide the surviving family members working in the family enterprise access to the wealth accumulated instead of facing the “Deemed Disposition” rules.

Faculty: JP Laporte, CEO, INTEGRIS Pension Management Corp

Mark Taucar, Portfolio Manager, Accilent Capital Management Inc.

Additional Educational Resources : New! The Personal Pension Plan Certificate Program

Designation Program Option: MFA™ Retirement & Succession Services Specialist Program

TECHNICAL SESSIONS

CHAPTER 5

TAX EFFICIENT GLOBAL INVESTMENT STRATEGIES IN 2020. The COVID-19 pandemic has caught most people completed unaware. As such the global markets have seen a significant decline in value and increased levels of volatility. Tax and financial advisors need to rethink global investment strategies from several angles. What worked in the past may no longer work in the future. Dr. Dean Smith is well equipped to provide insight and experience on the issues on both sides of the border. In a unique SWOT analysis, he discusses how advisors and their clients can better manage pandemic-related financial outcomes with tax efficient strategies that mitigate the effect of the pandemic on clients with significant personal, financial, real estate and business assets on both sides of the border. Topics include:

  1. Global Assets in the Portfolio. Should Canadians be investing into these markets? How should currency exchange risk be managed and reported to CRA Should they be hedging? What do they need to be aware of? What is the CRA position with respect to hedging?
  2. US Owned Real Estate . Many of your clients may own real estate in the U.S. Carrying costs are increasing because of significantly diminished Canadian dollars. If the property was rented, recent travel bans, may result in significant losses. Will this require a change in the T1135 personal use test?
  3. U.S. Citizens in Canada . Did you know that U.S. citizens resident in Canada can qualify to receive a one-time advance credit under the CARES Act of up to US$ 1,200 if their adjusted gross Income (AGI) is under $75k (single) or US$2,400 if married (and filing under the married filing joint filing status) and income under US$150K (same sex marriages qualifies but not common-law)
  4. Sale of Canadian Business to U.S. Investors . Should Canadians be selling their businesses to U.S. investors? What are the implications if the company stopped earning active income? Could a Canadian company lose its CCPC status if the company is not purified with the 90% test or the 2 year test?

Faculty: Dr. Dean Smith, President, Cadesky U.S. Tax Ltd.

Additional Educational Resources: Cross Border Taxation Course

Designation Program Option: MFA™-Business Services Specialist Program

CHAPTER 6

A DEEPER DIVE: PERSONAL LOSS DEDUCTIBILITY AND PASSIVE INVESTMENTS IN A CCPC

Has your client crystalized capital gains before the market peaked? Will they pay their 2019 taxes, by September 1st, by selling assets in a greatly diminished portfolio? How much will they save on loss carry-backs? An advanced look at loss applications and carry over provisions is featured in this informative session from both personal & corporate views. You will learn about:

Asset classification and different categories of loss applications

  1. How are the different categories of losses are recognized and taxed
  2. What are the benefits of realizing losses currently?
  3. What are the carryback and carryforward provisions, if any?
  4. What are the “wash” sale rules?
  5. How is investment income taxed in a CCPC?
  6. What is the impact of losses in a CCPC?

Help your clients mitigate the current damage and carry forward tax savings opportunities into the future. He will also make a sound argument for the reintroduction of income averaging provision, the $100,000 capital gains deduction (which was eliminated in 1994), and whether to consider refreezing shares of a SBC in view of current market conditions.

Faculty: Dr. Dean Smith, President, Cadesky U.S. Tax Ltd.

Additional Educational Resources: Knowledge Bureau’s New Advanced Tax Course

Designation Program Option: Recommended is the DFA-Tax Services Specialist™ Program

THE RWM SOCIETY ISSUE: IS IT THE RIGHT TIME TO TRANSFER ASSETS TO FAMILY MEMBERS?

CHAPTER 7

THE WAKE-UP CALL: ADDING FINANCIAL PEACE OF MIND TO PoA AND WILL PLANNING

In your online pre-work, you will consider a question that should be discussed with clients of tax, financial and legal advisors: with current market and business valuations at historic lows, is this the right time to transfer assets to spouse or adult children, or others, to minimize taxes on dispositions? Should business owners consider an estate freeze or re-freeze?

Using a true-to-life scenario featuring a family who is coping with the coronavirus - Grampa age 85, his 55 year old daughter, and her 35 year old son – incapacity and end of life planning will also need to be considered. Learn to execute on the steps a team of RWM™ advisors must take to help their clients get what they are really paying professional fees for: financial peace of mind.

Then engage with your expert speakers at the May 13 Virtual CE Summit in a thoroughly spell-binding discussion to help your clients move from panic to a relieved thank you in putting their financial affairs in order using a true RWM™ model.

Faculty: RWM™ Faculty and Virtual CE Summit Instructors

Designation Program Option: Knowledge Bureau’s RWM™- Real Wealth Manager Program

Student Experience

It’s very important to keep updated with all the federal,
provincial changes – best education programs I have seen over 10 years.
Very knowledgeable and friendly environment.

—Olga G., BC