Tax

Pushing the tax deadline

By the time you read this column, chances are both you and most of your clients have already filed their 2009 tax returns. The normal filing deadline is April 30th but if you or your spouse or common-law partner were self-employed in 2009, your returns are due on June 15. But any taxes for 2009 […]

April 1, 2010

3 min read

Estate Planning

Step-by-step selling

It's in the advisor’s interest to provide assistance should an entrepreneur consider selling their business

By Mark Groulx |April 1, 2010

5 min read

Tax News

Selling down South

Although many Canadians are taking advantage of low U.S. real estate pricing and the strong Canadian dollar to buy U.S. vacation properties, there are many others who have decided to sell their southern homes. It might be due to a financial need, limited use as health declines in older age or an upgrade to a […]

By Gena Katz |April 1, 2010

3 min read

Tax News

Best of 2010: Deciphering the CPP crossover

Given the importance of the Canada Pension Plan to most retirement plans, any tinkering with it must be understood. Doug Carroll explained the changes that went into effect in 2010. • • • I speak regularly at a variety of industry events, often providing a tax and estate snapshot of recent developments affecting personal wealth. […]

April 1, 2010

4 min read

New rules for employee perks

The federal budget has key changes that will impact ownership and disposition of employer stock options. For those of you with clients who participate in public company employer stock option plans or whose investment portfolios currently include shares acquired under such plans, last month’s federal budget included some important changes that may affect strategies relating […]

By Gena Katz |April 1, 2010

3 min read

Minding the home front at tax time

They say charity begins at home but this time of year it’s wise to rephrase the old saying to read “effective tax planning begins at home.” This is especially true for financial advisors who spend so much time and energy helping clients figure out deductions that they neglect their own opportunities to save on taxes. […]

5 min read

New EI rules good for some, bad for others

Beginning January 2010, self-employed individuals (including many financial advisors) can opt into the Employment Insurance (‘EI’) system, thereby qualifying for special EI benefits. Bill C-56, the “Fairness for the Self-Employed Act” received Royal Asset on December 15, 2009. This legislation allows self-employed persons to, for the first time, pay premiums on a voluntary basis – […]

3 min read

Celebrating Advice: Driving advice with tax planning

Blair Corkum, CA, R.F.P., CFP, CLU, RHU, FDS President Corkum & Associates Charlottetown Years in the business: 31 About me As a public accounting office, I am not licensed to sell product, and offer advice only on an hourly basis. I consider myself a chartered accountant offering business and tax advice, with a niche in […]

By Blair Corkum |March 15, 2010

4 min read

Parents may be overpaying taxes

It is not easy saving for your children’s education and it seems Canadian parents are making things harder on themselves than they need to be. According to the RBC Tax Planning Poll conducted by Ipsos Reid, 42% of parents with young children are not benefiting from the tax savings that are available to them. Of […]

By John Powell |March 10, 2010

1 min read