Impacts of Rising Prices from Monetary and Fiscal Policies
This is Part 2 of a series of 3 articles. In Part 1 we discussed common measurements of inflation and introduced some of the major causes of inflation. This background is important, so I encourage you to read the first article if you haven’t already. In today’s post, we will discuss monetary and fiscal policies that are affecting inflation. In Part 3, we will discuss strategies that we can use to help alleviate some of the pains from rising prices.
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A Holistic Disruption Requires a Holistic Approach
A holistic disruption requires a holistic approach and it’s time for the tax and financial advisory community to collaborate more, not less, to help their clients face the real possibility of recession and increased financial pain in 2023. “It is our role to be sure our clients are prepared for both opportunities and threats,” says Evelyn Jacks, President of Knowledge Bureau and the first keynote speaker at DAC Acuity 2022 in Niagara Falls this past week.
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DAC 2022 An Outstanding Event; Plans for Banff Nov 11-14, 2023 Announced
Distinguished Delegates at DAC 2022 were asked to get out of their comfort zones and make new, big goals to embrace what will be a difficult 2023 for their clients as a recession looms, CRA audits and recall of bank loans darken the horizon. At the same, time, however, there has never been a more perfect opportunity to add the highest value as professionals in the accounting, tax, bookkeeping and financial services. Twenty-four outstanding thought leaders made their case for building Velocity in anticipation of their enhanced services this year.
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DAC 2022 Distinguished New Advisor of The Future Award Winner: Doug Buss
The 2022 Distinguished New Advisor of the Future Award Winner is a 35-year veteran of the financial services industry who has re-engineered his practice to epitomize what it takes to pivot and become the advisor of the future. Doug Buss, of Winnipeg, has 6 staff members at YourStyle Financial and plans to double his assets under management over the next 5 years.
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High Prescribed Interest Rates: Plan Now
CRA has announced the fourth quarter prescribed interest rates and as expected, they rose again. It is now very expensive to owe money to the CRA, and any taxpayer who does, is well advised to pay off that debt as soon as possible. The prescribed interest rates for October 1 to December 31 are as follows:
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