Investigative Tax Prep: Top Ten Changes to Probe
Tax season 2025 has started with a focus on the increased income levels some taxpayers may report due to proposed changes in capital gains tax laws. But aside from this there are new questions to probe with clients to ensure the family’s tax returns are filed to their very best benefit, given change in their life and financial events as well. Here are top 10 queries to add to your interview checklist:Think Outside the Box: Change How You Practice with the RWM™
Check out the recording of the live Meeting of the Minds session on June 5 featuring practicing members of the Society of Real Wealth Managers™ and learn more about how their collaborative family office approach helps clients make sound financial decisions. Panelist Joanne Thomas moved her business to another province, and used the RWM™ model and thinking outside of the box to connect with like-minded professionals in other areas of specialization to improve the value of services that are provided to her clients. Register now for the Meeting of the Minds to access the event recording and hear Joanne tell her story and be sure to enrol in the Designation Program at a special tuition rate, only until June 30.
Acuity 2024 Media Partnership with Advisor.ca, Investment Executive
As a Distinguished Advisor, you know the importance of learning best practices and staying informed about the latest developments in the financial services industry. Together, Canada's top publications for financial advisors - the 2024 Acuity Conference for Distinguished Advisors returning media sponsors - will ensure you remain at the top of your game. Knowledge Bureau is pleased to welcome back Advisor.ca and Investment Executive as our media sponsors for Acuity 2024 in Montreal November 10-12. Learn more about them below:
Know Your Client: Capital Gains Hike Will Affect Millions
Millions of Canadian investors and their advisors must prepare themselves for lower dividend distributions and those once or twice-in-a-lifetime financial events as a result of the new capital gains inclusion rate of 66 2/3 percent on gains over $250,000. Larry Frostiak, FCPA, FCA, CFP, TEP, RWM™, FDFS™, founding partner of Frostiak & Leslie Chartered Professional Accountants Inc. will discuss the broad implications from a Year End Planning perspective at the Acuity Conference for Distinguished Advisors in Montreal November 10-12. But in the meantime, the June 25 deadline fast approaches and critical conversations must take place, for the reasons outlined below:
The Effect of CGIR on Employee Stock Options
Providing ESOPs is a way of helping start-up businesses to attract high-value employees despite their lack of capital to pay the larger salaries. Because larger companies were using stock options as a form of compensation for higher-income employees effectively reducing the taxes paid by such employees, a limit was placed on the amount of stock options that were eligible for this treatment for employees of large companies. Now proposed changes to the Capital Gains Inclusion Rates (CGIRs) will make this even more complex.
Tax Traps: Home Office Expenses
A claim for home office expenses is common, but there are changes this year which are fraught with audit risk. The simplified claim method in place for 2020, 2021 and 2022 tax filing years has ended and so the “detailed method” must be used. The self employed have more latitude in claiming expenses but for employees a special tax trap is the claiming of supplies used up in the course of employment duties. Here’s what you need to know:
Tuition Fee Payment Options
Registering to take certificate courses under our Specialized Credentials Programs or Continuing Education including CE Savvy Summit passes and the Acuity Conference for Distinguished Advisors (DAC)? Take advantage of tuition fee savings this month and find out more about our tuition fee payment options below:
