A Challenge for New Clients: How to Choose a Trusted Advisor

If you’re in business for yourself, you have a unique opportunity to build wealth in an asset class that others don’t have: equity in a business enterprise that some day may be sold for millions of dollars. In addition, that business can spin off income for family members that can provide significant tax advantages, done well. Understanding how to realize on this asset requires the help of a trusted financial advisory team. Who should be on that team and how do you find them? This is a challenge your next new business clients may wrestle with. Here are some tips on how you can open discussions to help them:

Imagine being part of a 3-day think tank devoted to sharing strategies on how to best navigate this challenging, yet exciting era in the tax and financial services. That is the primary reason why our DAC delegates attend the conference year after year. 

Rick Tomalty: I'm having more meaningful conversations with my clients thanks to Knowledge Bureau

Big changes are coming to CRA’s Voluntary Disclosures Program (VDP) this fall. The proposals on the table will see the program evolve from an opportunity for taxpayers to correct errors and omissions, to an opportunity for government to use the program to generate revenues at a modest cost.

Mid life crisis?  According to Statistics Canada, there are about 71,000 divorces in Canada each year. In fact, over 40% of marriages will end up in divorce, and it can be very expensive - before and after tax!

Recent tax changes require forethought in planning for high-income earners, and in the preparation of final returns for deceased single taxpayers.

Boomers and Millennials beware:  if you are a new sole proprietor a tax deadline looms this week.