Navigating Auto Expense Deduction at Year End: What Clients Need to Know

Doubtless you’ve had clients ask whether they can write off any portion of their vehicle for work or business purposes. And your answer, as always, is: “It depends.” The rules are worth reviewing at year end as they can vary significantly depending on how the client earns their income—employee, self-employed, or incorporated – and this is a deduction that’s often audited. Here’s a practical primer to guide that conversation.

The RRSP deadline for those making contributions to reduce their 2016 tax liability is fast approaching: midnight March 1.  It’s important to get this done on time as a good Plan A, but also, to do so in conjunction with a long term financial planning outlook, as an even more important go-forward plan.

You have another chance to answer our Canadian Trivia Question and win a free registration to Distinguished Advanced Conference (DAC), November 5-8 in Kelowna, British Columbia.

The headlines around the world have been intense and for some, disturbing, over the last several weeks as borders have closed and diversity, financial and judicial systems have been challenged by change.  What does the future hold for Canadian investors and their advisors as a result of this uncertainty? 

Knowledge Bureau’s Advanced Bookkeeping for Multiple Business course is the logical next step for any bookkeeper to up their game and forge ahead in their career.

Providing value to your clients: Andre Yong Tit Kow, DFA - Tax Services Specialist™, Ontario

“The first responsibility of a leader is to define reality.”  Max DePree