News and resources for Canada's top financial advisors
Tax News
Can’t write off expenses related to exploring pre-business activity
October 1, 2011
3 min read
For most employees, the taxation of their employment income is straightforward, since their income is mainly comprised of salary and bonuses.
By Robert Mendenhall |October 1, 2011
5 min read
Investment advisors generally don’t aim to generate capital losses. That said, strategically realizing capital losses and using them to a client’s advantage can be a prudent approach.
By Jason Heath |September 29, 2011
Economic Indicators
One in four financial institutions are unaware of impending U.S. tax legislation which will have global reach, according to a report by RBC Dexia Investor Services. Despite the fact that the U.S.’s Foreign Account Tax Compliance Act (FATCA) was passed in 2010, 26% of financial institutions worldwide have little or no awareness of the legislation. […]
By Staff |September 26, 2011
2 min read
Industry
Swiss banker Bradley Birkenfeld joined UBS in 2001. Four years later, Birkenfeld realized that UBS’s practice of storing money for American clients in Swiss bank accounts was illegal. Birkenfeld voiced his concern to his supervisors and UBS’s compliance and legal departments. Since he didn’t receive a response, in 2007 Birkenfeld left UBS and complained to the IRS and SEC, triggering a multibillion-dollar international tax-fraud scandal.
By Richard E. Austin |September 20, 2011
Estate Planning
Moving property from sole ownership into joint ownership with a right of survivorship is a particularly seductive means of reducing exposure to probate taxes.
By Barry Corbin |September 19, 2011
Life
Life insurance is an appropriate tool to generate funds for charities and to enjoy significant tax benefits both in life and death.
September 19, 2011
An insured annuity can be a powerful tool to help business owners maximize retirement income while minimizing tax. This type of annuity involves simultaneously purchasing a life annuity and a life insurance policy.
By André L’Espérance |September 16, 2011
My focus is to help clients and their advisors achieve the best after-tax returns, because at the end of the day, that’s what their financial plans are based on and that’s the money they can actually spend. Good returns aren’t good for much if they’re not tax-efficient.
By Jason Heath |September 14, 2011
A funny thing happened in the wake of the Tea Party’s victory in the U.S. debt ceiling standoff a month ago
By Michael McCullough, Canadian Business |September 12, 2011
7 min read
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