Looking Back – and Forward on Innovation in Tax

I am excited about our upcoming national workshop tours with Cameron Peters, President of  Trilogy Software, Larry Frostiak, FCA, who has written a new course being unveiled on the tour especially for those advisors working to build family wealth with small business corporations, and Alan Rowell, MFA, DFA-Tax Services Specialist, who has prepared practical quizzes and case studies to help you understand how to prepare T2 returns for micro corporations and plan tax efficient income and capital accumulation by understanding the rules.

I first met Cameron back in the ’80s when I was working on a project with CRA to pilot electronic filing in Canada and he was developing his first tax software package as a young man out of high school. What we were doing back then was cutting edge and it changed the industry and the way Canadians file their tax returns—over 6 million returns are now NETFILED and close to 12 million taxpayers filed through professionals using EFILE. Today, Cameron has created a third round of innovative software solutions for tax professionals to integrate the paperless environment in a more intuitive way. He will unveil TaxCycle for T1 and T2 returns on these tours.

We at the Knowledge Bureau, meanwhile, have pioneered the application of tax competencies to a wealth management framework that includes a multi-stakeholder environment. Why? Because tax and financial advisors must work together to get the best results for their clients. Consider the national headlines blaring this week: a needless $35,000 tax bill charged to a widow because of an RRSP rollover fiasco at a local bank. This underscores that deeper knowledge and multi-disciplinary relationships are required to serve clients well throughout their life events. In a low-return, high risk economic climate, the strategic collaboration between tax and financial advisors to build and sustain wealth for their clients’ families is a winning solution.

The tax industry of the ’80s has since long disappeared. Together, Larry and Alan look forward to helping you achieve the educational credentials you need to grow a collaborative practice for the future. We believe thought leaders will embrace family filing as their number one business mantra and position themselves to be the go-to firms to help new family businesses—150,000 new ones expected to sprout in Canada over the next decade, according to recent reports. Cameron’s intuitive new software will help with the technology.

It’s Your Money. Your Life. Join us as we help you unveil a new value proposition—tax efficiency for the Canadian family businesses—through expert planning and preparation of tax returns for their micro corporations and each individual involved. Cameron, Larry, Alan, and myself, together with regional Knowledge Bureau instructors, look forward to meeting you.

Evelyn Jacks is President of Knowledge Bureau and author of 50 books on tax and personal wealth management. She is also the founder and director of the Distinguished Advisor Conference (DAC). The theme of this year’s three day think tank in Ojai, CA Nov 10-13 will be “Back to the Future – Collaborative Wealth Management.”  Follow Evelyn on Twitter at @EvelynJacks.

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