As the year winds down, the pressure to deliver impactful, proactive tax advice intensifies. For your clients, primarily self-employed individuals and small business owners, the line between personal and business finances can easily blur. Commingling accounts is a common pitfall that can lead to denied expenses, and imputed income from the CRA is a complex situation you are left to untangle.
Helping clients navigate this challenge is just one part of effective year-end planning. Strategic advice on RRSP contributions, TFSA withdrawals, and the timing of capital gains and losses can deliver significant tax savings. Are you prepared to guide them through these crucial decisions? This year, move beyond reactive data entry and become an indispensable advisor.
Discover six essential year-end tax planning tips to elevate your client services. Authored by David J. Rotfleisch, CPA, CA, JD, this insightful piece appears in the Tax Sense feature from last year’s Q4 issue of Numbers & Sense magazine.
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One Response
David does a regular column in Numbers & Sense magazine called Tax Sense! Always worth checking out!