The Right Professional Education for a New Economy

The tax preparation industry is undergoing massive change: from jobs that required data entry skills to professional advice that focuses on the best after-tax results for the client and his or her family. That requires a new educational solution for those who want to build a career in this rewarding industry.

In this final segment of a four-part series, Knowledge Bureau founder Evelyn Jacks explains how the tax and financial services industry of yesterday is evolving with a new economy, and what is required to be a leader and meet clients’ needs in a brand new tax and financial services industry.

Students in the DFA-Tax Services Specialist and MFA-Business Services Specialist designation programs have the opportunity to embrace change as the tax preparation services of old evolve into the smart tax advisory services clients are increasingly demanding. You, too, can be an early adopter and enter this rewarding line of work in two phases:

1. Learn to File Tax Returns with Precision. More than a data entry clerk, the highly skilled Certified Tax Practitioner™ is a professional who understands the technology behind CRA’s EFILE, NETFILE and File My Return, but brings so much more to the client relationship: the precise application of all the tax preferences the client is entitled to because a thorough client interview was conducted. As a result, conversations about basic tax-efficient investments, like TFSAs and RRSPs, and the use of carry-over provisions are initiated. Three courses from Knowledge Bureau are required: Income Tax Filing Fundamentals, Personal Tax Filing and Planning and Advanced Tax Filing and Planning.
2. Learn Specialized Tax Planning Skills. Continuing on to achieve designation as a DFA-Tax Services Specialist, the successful graduate of the next three courses in the program is qualified to be a trusted contributor to a multi-stakeholder approach in family wealth management, offering high-value advice on the best after-tax outcomes for multiple generations in a taxpayer’s family. This is especially important at times of great change: when lifecycle events occur (marriage, births, divorce, illness and death) or during important financial events (for example, when employees become proprietors; during pre-retirement; or at end of life, with the filing of final personal, GRE (Graduated Rate Estates) and other trust returns).

In all of these scenarios, multi-stakeholder consultations are required – often over longer periods of time — to meet the complex tax accounting compliance requirements clients or their substitute decision-makers must be responsible for. The tax specialist’s role is to ensure the client can take maximum advantage of lucrative tax savings, while filing audit-proof tax returns .

For more information, take a free trial of the courses in this dynamic, online program, the DFA-Tax Services Specialist Designation, or call our highly qualified educational consultants for assistance: 1-866-953-4769.

Evelyn Jacks is Canada’s most trusted educator in the tax and financial services. Founder and President of Knowledge Bureau and developer of the Real Wealth Management discipline, she is also the author of 53 books.

Additional educational resources: Take the next steps: plan your lifelong learning with purpose. Explore your Knowledge Bureau education options.
It’s a great time to choose a new and exciting career path in the financial services, especially for professionals repositioning themselves to meet the needs of clients participating in the new economy. The 6 areas of specialization image is a competency and proficiency map offered by Knowledge Bureau, to help you think about the options for specialization in your field of service.

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