At KWB, it’s important to us that you receive thorough and comprehensive financial information and advice.
We ensure that you’re compliant with your tax filings and taking advantage of all tax saving strategies. We will also assist you in running your business efficiently, but there are some areas that still require expertise from other professionals.
We work alongside a network of qualified and passionate lawyers, financial planners, investment advisors, and insurance professionals to ensure that all aspects of your business and finances are taken care of. We only deal with the very best, and have chosen our partners based on their experience, expertise, and passion for excellent service.
In areas where we do not provide the services that are necessary, we are always happy to refer you to our network of partners, and work with them to ensure your needs are met. Friends of KWB include:
Blog posts about Friends of KWB
The Value of Advice
What is the value of advice? When it comes to portfolio management, the overall value of the advice can be measured by comparing the performance of one portfolio over another in a specific amount of time. However, when it comes to wealth management, the overall value of the advice discussed regularly with clients is much more difficult to measure. Read on to see some real life examples of the value of the advice given.
Once in a Blue Moon
I recently read an excellent article about a rare economic occurrence that was happening this past June. To help you find out more about this rare economic occurrence, here is the full article prepared by Wealth Stewards Portfolio Management Inc. (WSPM)
Want some quick insight into what the top topics affecting the US economy are this month? Take a look at our quick snapshot.
Are you interested in what some of the current economic conditions are in Europe and the U.S.? For a quick and easy to understand snapshot, in a half page summary format, read on.
The Enlightened Investor - Fees & Expenses
Fees and expenses are the single biggest reason professional money managers fail to outperform the market return. Learn a little more about what are reasonable fees and what makes up most investment fees.
If charitable giving is something that you are interested in and you want to see the tax benefits obtained recently by one of our clients, read on for more information.
Disaster Recovery 101
Terrible devastation caused by flooding or fires is a potent reminder that one should not delay planning for disasters in advance. Learn how to approach designing your own Disaster Recovery Plan (DRP).
Economic Update on U.S Interest Rates
Are you interested in what is happening with interest rates in the U.S.? Here is a quick and easy to understand summary.
The Enlightened Investor: A New Trustee Act for Alberta
Provincial legislation is periodically updated. In Alberta, a revised Wills and Succession Act came into effect in 2012, an updated Estate Administration Act was passed in 2015 and now an initiative is underway to co-ordinate the Trustee legislation across Canada.
The Alberta Trustee Act is the provincial legislation governing the administration of trusts. A trust
The Enlightened Investor:Calculating the Cost Base of a Security Held in Multiple Taxable Accounts
Congratulations! You just sold and realized a profit on that promising investment (stock, mutual fund, ETF etc.). When you’re done planning how to spend your windfall you might also consider how much tax you owe on that gain. Unless the sale occurred within a non-taxable RSP or TSFA.
Normally, this is fairly straightforward. You
The Secret to Fitting a Healthy Lifestyle into your Busy World-Part 2
Part 2 of an article on Healthy Lifestyles.
See Part 1 posted on October 28, 2015.
Strategic Step #2: Automate & Re-Engineer Your Environment
We are creatures of habit. Did you know that on a typical day you make about 300 decisions about nutrition? Most of them are done unconsciously and can often lead to
The Secret to Fitting a Healthy Lifestyle into your Busy World-Part 1
Entrepreneurs, business owners, and professionals often lead very busy lives. Being one myself I can relate to wearing many different hats, starting early, ending late, and seeing it have the impact on my lifestyle and my health.
So many of us get into an unconscious pattern that just becomes our normal way of being. Unfortunately
The Enlightened Investor: What is meant by “market return”?
The investment industry and media often refer to the “market” and the “market return”.
Or that the market was up or down on the day and that a portfolio manager's return outperformed or underperformed the market return. So what exactly do they mean and how does it relate to you?
The market generally refers to
The Enlightened Investor - Moving Small LIRA’s to Your RSP
When you have a job transition, you may transfer your pension plan savings to a locked-in-retirement account (LIRA).
LIRA’s are similar to Retirement Savings Plans (RSP’s) but with more restrictions. Adding another investment account will also add extra administration to managing your retirement savings.
Alberta pension legislation allows people age 50 or older to transfer
The Enlightened Investor – Risk (ETF’s)
Investors often remark that the world economy has changed and that it's more volatile than ever. They are less trusting of stock markets and they don't want to take risk.
I can't say I blame them. I might ask though, if the world has changed, if it is more volatile, "how are you changing the
Retirement Planning Alternatives
We have all been told to plan for our retirement. Yet, have you ever wondered WHY?
Perhaps you have a plan, most people do, but is it the RIGHT plan? In the following example, it is clear how ADVANCED planning can make a huge difference for you and your loved ones.
In the table
The Enlightened Investor - A Game Plan
Do you make investment decisions according to what looks good at the moment? These purchases are often based on opinion and influenced by emotion. It can be exciting - much like buying lottery tickets.
Clearly, following a predetermined, diversified, well-thought-out, long-term investment strategy is preferable. Here’s why.
Dalbar’s study of investor behavior shows how investor
Why should I review my Unanimous Shareholder Agreement?
If you haven’t reviewed your Unanimous Shareholder Agreement (USA) recently, here are 3 excellent reasons why you should do so:
In 2006, the Federal Budget introduced a second dividend rate. Corporate earnings in Alberta, up to $500,000 are taxed at 14%; when a dividend is paid to an individual shareholder this “ineligible-dividend” is taxed
The Enlightened Investor: A Diversified Portfolio vs. a Collection of Investments “The Only Two Things You Need to Know About Modern Portfolio Theory”
Our best technique for protecting portfolios is called Modern Portfolio Theory.
This Nobel Prize winning idea said it is insufficient to look at investments in isolation as is done in the traditional approach of picking stocks and bonds. Rather rational investors will seek out “efficiently diversified portfolios” offering the highest expected return for each level
FACTA Bank Reporting Requirements
Beginning in July of 2014, Canadian financial institutions will be required to start gathering and reporting information on accounts held by U.S. residents and U.S. citizens, including those who are resident of Canada.
The account information will be collected and reported to the Canada Revenue Agency (CRA), who will then transfer the information
T1135 Foreign Income Reporting
Canada Revenue Agency (CRA) has further revised form T1135, Foreign Income Verification Statement.
The T1135 is designed to request more information on foreign property in an effort “to better target international tax evasion and aggressive tax avoidance”. While the reporting requirements have changed, the criteria for those who must file form T1135 has not.
The Enlightened Investor: A Diversified Portfolio vs. a Collection of Investments - “Recovery Returns”
Do you want a portfolio that’s vulnerable to wild swings in value? Likely not. In fact less volatile portfolios are both easier on the stomach and they help you achieve better long-term returns.
For example, a portfolio that declines 10% this year requires an increase of 12% next year to recover its losses. If your
The Enlightened Investor-Deadline for the $500 Alberta Centennial Education Savings Grant (ACES)
If you have a child that is 10 years old or younger (born in Alberta between January 1, 2005 and March 31, 2015) they are eligible for a one-time $500 grant from the provincial government. However, you only have until July 31, 2015 to submit the form and apply for this grant before it ends
Top 10 Alberta NDP Policies (source: Dr. Carol Anderson, Navigator)
Increase Alberta’s corporate taxes to 12% from 10%.
Job creation tax credit that subsidizes 10% of any new employee salary (max $5,000).
Support economic diversification in sectors like alternative energy, high tech, advanced research and knowledge industries.
Income tax increases for top earners: 12% on incomes $125,000 to $150,000; 13% on $150,000
What will interest rates do in 2015
When it comes to interest rates here in Canada and around the world, the only thing we know is that we don’t know.
For the past 4 years economists around the world have expected interest rates to increase and not go lower.
What we do know is that Stephen Poloz, the Governor of the Bank
The Enlightened Investor-Retirement Income
Eventually investors move from the “saving-years” to the “drawing-years”, when they want to start drawing an income from their portfolios.
This can be confusing. For many the natural inclination is to liquidate their diversified portfolio in favor of income-producing stocks or bonds. However, the idea that retired individuals should load up on dividend-paying common shares
The Enlightened Investor: Is Your Portfolio Leaking Tax?
It may be obvious to state that an investor only keeps the after-tax return. It is less obvious how to minimize the tax leakage from your portfolio.
A good starting point is to identify the two primary causes of tax; portfolio turnover and an inefficient portfolio structure.
Taxes resulting from portfolio turnover can cost you
KWB Chartered Accountants is proud to support our December charity, Coats for Kids and Families.
We have decided to not only support this charity with the monthly amount we collect from any staff member who wants to wear jeans on certain designated days, but have also decided to collect winter wear for kids and adults.
Direct Beneficiary Designation - RRSP or RRIF
If you are considering a direct beneficiary designation for either a Registered Retirement Savings Plan (RRSP) or a Registered Retirement Income Fund (RRIF), you should be aware of some negative consequences that can occur.
A direct beneficiary designation can result in unintended tax consequences to the estate, the inequitable treatment of heirs or the distribution