2017 has been a year of drama for Vancouver tax advisors and I am happy that it is coming to an end. I have to admit, it is not so much January 1, 2018 I am looking forward to. I am anxiously waiting for the 2018 budget date which may bring all Canadian private corporations more clarity on their financial and tax future. Vancouver Tax Planning - Changes For Private Coporations On July 18, 2017, Ottawa proposed dramatic changes to the taxation of private corporations. Since then, Ottawa has ... Read More
Dealing With the Death of Your Accountant
There are many tax-planning tips for death and estate, but not much is written about the death of your accountant who has been taking care of the family’s finances for decades. I just read a statistic that says 43% of financial advisors are over the age of 55, and are approaching retirement. Even my own experience with new clients tells me that there are more than a few well-established financial advisors getting ready to retire in the Greater Vancouver Area. If you suspect that your ... Read More
Cloud Based Accounting: The Cloud, The Books, The Bookkeeper, and His Death
The use of cloud-based accounting software began to surface about five years ago, amongst my clients. Since then, I’ve seen more young entrepreneurs adopting software quickly and with minimum training. Accounting software, desktop or cloud-based, is supposed to be user friendly for non-accountants, and this has been the case since accounting software came onto the scene in the 1990s. Now, with cloud-based accounting platforms, the clumsy need to transfer an actual physical file to various users ... Read More
