Mark Your Calendar: Critical Deadlines for May and June
Tax season never truly ends, it seems, as there are many more upcoming tax filing, investment planning and education milestones to discuss with your clients over the next six months. Check out our handy checklist below and then test yourself – what are the conversation openers you’ll use and with which clients? It’s your opportunity to shine with every member of the household:Federal Budget 2017: Will Taxes Go Up?
The Federal Budget is expected to be released in this fiscal quarter. Will taxes go up over the next five years? Finance Canada’s Fall Economic Update, released on November 1, 2016, provided an extensive analysis of near-term trends and private sector forecasts to give professional advisors good direction on the likelihood of tax increases in the period, and how inflation, interest rates, the dollar and the price of oil are expected to perform.
What’s the Tax Filing Deadline: April 30 or June 15?
It’s really surprising how many people don’t know when the tax filing deadline is. CRA often mentions two dates: April 30 and June 15. Which is it for you? Unless you or your spouse are reporting income from an unincorporated small business, the answer will usually be April 30. That’s not true this year, though.
Worried About Tax Troubles? Apply for Relief
New Year’s Resolutions often involve the purging of winter weight, weighty closets or weights on the mind, including the guilt of understating income or overstating expenses or credits on the tax return.
The Other 8%: Managing Tax Cheats
Canadian taxpayers are a compliant lot: according to CRA, in 2012–13, 92% of Canadians filed their taxes on time and 95% paid their reported taxes in full. This is a remarkable record for a tax system based on self-assessment and voluntary compliance. Yet, there is another side to the story.
Ask Your Most Burning Tax Questions at DAW January 17-25
Precise tax knowledge counts: accurate tax preparation is the goal of every professional tax specialist and it is a tremendous value add for financial advisors and their staff who will field hundreds of calls from their clients this tax season.
Offer Professional Bookkeeping Services This Year
If you are in the tax preparation business or work in bookkeeping but want to get a certificate or designation under your belt, now is a good time to dive in and take an online course from Knowledge Bureau.
