๐—ง๐—ต๐—ฒ ๐Ÿฑ ๐—ž๐—ฒ๐˜† ๐—œ๐˜๐—ฒ๐—บ๐˜€ ๐˜†๐—ผ๐˜‚ ๐˜€๐—ต๐—ผ๐˜‚๐—น๐—ฑ ๐—ต๐—ฎ๐˜ƒ๐—ฒ ๐—ฟ๐—ฒ๐—ฐ๐—ฒ๐—ถ๐˜ƒ๐—ฒ๐—ฑ ๐—ณ๐—ฟ๐—ผ๐—บ ๐˜†๐—ผ๐˜‚๐—ฟ ๐—”๐—ฐ๐—ฐ๐—ผ๐˜‚๐—ป๐˜๐—ฎ๐—ป๐˜ ๐—ฎ๐—ณ๐˜๐—ฒ๐—ฟ ๐˜†๐—ผ๐˜‚๐—ฟ ๐—ง๐—ฎ๐˜… ๐—™๐—ถ๐—น๐—ถ๐—ป๐—ด.

Item 1: ย Discuss what was missing from 2019 and what needs to be added for 2020 to help Save on Taxes. ย 

The trouble with the accounting industry is that we are essentially given 4 weeks to file every Canadian across Canada. The Accounting industry does not have the time to go back to you for every little item missing. ย They just push it through to get the work done, you sign off that everything is enclosed and then the liability is on the taxpayer. We have the privilege to help our clients with their income tax filing. ย 

But our edge is our full financial planning relationship. ย We have access to more information on your behalf and know more about you than most. ย 

๐˜“๐˜ฆ๐˜ต'๐˜ด ๐˜ต๐˜ข๐˜ญ๐˜ฌ ๐˜ข๐˜ฃ๐˜ฐ๐˜ถ๐˜ต ๐˜‰๐˜ฐ๐˜ฃ ๐˜ข๐˜ฏ๐˜ฅ ๐˜š๐˜ข๐˜ญ๐˜ญ๐˜บ. ย ๐˜›๐˜ฉ๐˜ฆ๐˜บ ๐˜ข๐˜ณ๐˜ฆ ๐˜ณ๐˜ฆ๐˜ข๐˜ฅ๐˜บ ๐˜ต๐˜ฐ ๐˜ง๐˜ช๐˜ญ๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ๐˜ช๐˜ณ 2019 ๐˜›๐˜ข๐˜น๐˜ฆ๐˜ด. ย ๐˜ž๐˜ฉ๐˜ข๐˜ต ๐˜ช๐˜ด ๐˜ต๐˜ข๐˜น ๐˜ง๐˜ช๐˜ญ๐˜ช๐˜ฏ๐˜จ? ย ๐˜”๐˜ถ๐˜ญ๐˜ต๐˜ช๐˜ฑ๐˜ญ๐˜ฆ ๐˜ค๐˜ฉ๐˜ฐ๐˜ช๐˜ค๐˜ฆ ๐˜ฒ๐˜ถ๐˜ฆ๐˜ด๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ง๐˜ฐ๐˜ณ ๐˜บ๐˜ฐ๐˜ถ:

  1. Bob and Sally complete a checklist, provide information, it`s reviewed by someone who knows their financial planning situation, missing information is requested, the file is prepared and reviewed and a written Tax Plan and Summary is completed, ย a drop off meeting and then filing.
  2. Bob and Sally drop off their information, someone who does not know them prepares the info and then its sent out for signing and filing.
  3. Bob and Sally don`t file their taxes.
  4. None of the above.
Now which answer is Tax Planning and Tax Filing?

When we file for our financial planning clients we already know so much about you and have access to so much of the information on your behalf that we can just obtain it for you. ย 

In Jan and February annually, I request from the investment team all the slips that we require. ย We don`t miss any because we know what you have from our financial plans. ย 

I tend to know information about you from being a client such as if you kids went to summer camp even though you have not child care expense, if you were ill and had to travel for medical treatment, if you sold your principle residence, if you have a tax deductible mortgage and how it works. ย 

And if we do not have a good comparison to the previous year, we will reach back out to you to confirm the information. ย 

We will also discuss with changes might be coming up for the next tax filing year that may be different so we can anticipate what will happen the following year that will warrant changes. ย 

So not only is it widespread that you may have missed something from the current year you are not being told to include it for the upcoming year.