Back to School Tax Breaks
Like tax season, back-to-school season rolls around annually with certainty. But in today’s inflationary environment, the start-up costs for getting the family organizing for the school year may seem daunting. The good news is that tax and financial advisors can help clients understand their tax planning options and manage all the receipts that can lead to tax breaks later in the spring during tax filing time. Here’s a primer of topics you may wish to discuss:How Are Auto Expenses Claimed?
The rules for claiming automobile expenses are similar for both employed and self-employed people, and they are also among the most frequently audited. Taxpayers will want to keep proper documentation and make the claims correctly.
Students and their Parents Lose Ground the Term
Despite a CRA new release which tells students they will be saving more on their taxes this term, students and their parents will actually pay more tax in 2017 due to the March, 2016 budget. Here are the details that students, parents and tax preparers need to know about as they spend money on their education in 2017:
Canadians Are Spending on Housing
Albertans lead the country on spending money, based on a new survey on household spending released at the end of January by Statistics Canada. The figures are indicative of tax and financial planning opportunities required by families at all ages.
End-To-End Advisor-Client Experience Important
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.
DAC CANADA150 Financial Trivia Question for February
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.
DAC Tackles Financial Advice at Crossroads of Change
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?
