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:Is a DMA Accounting Services Specialist The Right Fit For You?
Do you enjoy solving problems, working with numbers and helping others? If so, enrol in a new designation program that will help you kickstart your career, earn more as a highly qualified practitioner and achieve your potential as a confident leader. Become a Distinguished Master Advisor by taking the new DMA Accounting Services Specialist Designation Program.
The Dark Horses – Find them at the Advanced T1 Tax Update
The Dark Horses are coming: little known tax facts and tips ordinary advisors never tell their clients about. It makes a big difference in the after-tax result! December 15 is the beginning of the Early Registration Deadlines for the Advanced T1 Tax Update, featuring three training options in 2023:
Canada Dental Benefit: Now Open and Accepting Applications
Did you know that in Canada, a third of people do not have dental insurance to get the dental care they need? Starting on December 1, eligible Canadians were allowed to apply for the Canada Dental Benefit. This is the first-ever federal dental-care program, but it comes with fine print and potential auditing if incorrectly applied for. Here’s what you need to know to tap into the program, which allows for dental expenditures to be claimed back to October 1, 2022.
Give More, Tax Efficiently: Choosing Investments for a Charitable Donation Strategy
Working with both financial advisors and tax specialists can help clients give more to their communities through charity before year end. But it’s critical for advisors to be proactive now, or time will run out to give more, tax efficiently.
One common issue I’ve come across is with clients who have a non-registered investment portfolio, but are writing cheques to charities for their annual giving.
Poll Results: Harvest tax losses takes more care in 2022
An overwhelming majority of Knowledge Bureau poll respondents, 93%, believe investors should harvest tax losses in 2022 to recover taxes paid on capital gains declared in the past three years. It’s an interesting question, however, because in some cases it might be the right thing to do; in others not. Most professionals reflected this sentiment in their comments.
Are You Looking at Changing Your Career Path?
Do you like working numbers and have an aptitude to solve problems? Do you love working with people? It may be the right time to change course and embrace a new career path in the tax accounting industry. It can be financially rewarding, too. An accountant with 0-3 year's experience living in Alberta is making on average $70,538, according to the latest Robert Half Salary Guide. A senior tax accountant in Toronto is making over $100,000.
