KWB Blog

The latest financial news and accounting tips from KWB.

Dec 3 2019
Year End Tax Tips

Review our year end tax tips to discover a number of perfectly valid actions you may still be able to take before the end of the year to cut your taxes and to optimize your wealth management planning. As tax planning specialists, we can help you decide exactly what to do, when to do it, […]

Sep 3 2019
Director’s Liability

What is director’s liability? While the tax debts of a corporation belong to the corporation and the tax debts of an individual belong to that individual, there are some exceptions to the rules. Directors may have liability for certain tax accounts of the corporations they serve. When a corporation faces insolvency, remittances to the government […]

Jun 18 2019
Principal Residence Exemption

If you have sold your home and it is your principal residence then you should be able to use the principal residence exemption to reduce or eliminate any capital gain for income tax purposes on the sale of the property. CRA states that a principal residence can be a house, cottage, condominium, apartment, trailer, mobile […]

May 14 2019
Registered Education Savings Plan (RESP)

An RESP is an education savings account that is registered with the Government of Canada that helps you save for a child’s or grandchild’s post-secondary education. With an RESP, you may be able to receive other saving incentives, such as the: Canada Learning Bond Basic and Additional Canada Education Savings Grant There are two different types […]

Mar 12 2019
The Enlightened Investor-Retirement Income

Eventually investors move from the “saving-years” to the “drawing-years”, when they want to start drawing retirement 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 […]

Feb 26 2019
Retirement Planning Alternatives

We have all been told to plan for our retirement.  Yet, have you ever wondered why you need to consider the different retirement planning alternatives? 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 […]

Feb 12 2019
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 […]

Feb 5 2019
Structuring the legal ownership of your home

What’s the best strategy for structuring the legal ownership of your home? The answer is…it depends. Are you asking for tax planning purposes or for estate planning purposes? Often you may be advised that it’s important for you to have the title of your home shared with somebody else so that if something were to […]

Jan 22 2019
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.

Oct 9 2018
Strategic Planning

What if you knew the impact of an important decision before you made it? Could you and your business benefit from this “what if” strategic planning? You would be able to look at the potential outcome and financial impact of business decisions before they are made. At KWB we use software called Profit Driver to […]

May 22 2018
Quickbooks ProAdvisor

There are many benefits that KWB receives as a member of the Quickbooks ProAdvisor program and can pass along to you. Read about what they are, including some potential cost savings for you.

Mar 6 2018
Borrowing Best Practices

You may not always understand what your banker is seeing or what they are asking for, but the good news is that both your banker and you want to see the business succeed. Here is more info on the 9 simple things that will help you become a more successful borrower.

Dec 19 2017
When to Apply for CPP Benefits

The amount of CPP benefits that you are eligible to receive depends on how long you earned employment income, and how much you earned in those years. You can visit the My Service Canada website to see how much you have paid in to CPP over your working years. This information is used to calculate […]

May 9 2017
Tax Deductions

To make sure you are claiming all the tax deductions that you should be, read about the 7 most commonly overlooked tax deductions.

Feb 21 2017

In November 2016, Canada Revenue Agency warned investors who are deducting investment fees charged for the management of their registered accounts that they are subject to a tax penalty perhaps as great as that fee. A registered account is a TFSA, RSP, RIF and the various locked in versions. Investment fees charged to registered accounts […]

Jul 28 2016
The Enlightened Investor: Powers of Attorney for Property

A power of attorney for property is a written document by which a grantor appoints an attorney to act as a substitute decision maker with respect to the grantors property or financial affairs. This grant of power becomes effective immediately upon the grantor signing the document unless otherwise indicated. While a General Power of Attorney […]

Feb 23 2016
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 as […]

Jan 21 2016
Charitable Giving

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.

Jul 23 2015
Change in use of property from capital to inventory or vice versa.

There are no immediate repercussions for the change in business use of property from capital to inventory. The differences arise upon sale of the real estate. There is no provision in the Income Tax Act which describes the circumstances in which gains from the sale of real estate are to be determined as being either […]

Jun 23 2015
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 portfolio […]

May 7 2015
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 […]

Apr 15 2015
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 […]

Mar 26 2015
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 […]

Dec 1 2014
KWB has moved

After 18 years in our offices at the Edmonton Sun building, we have embarked on a new path. We moved on December 1st, 2014 and our new home is now at 9771–54th Avenue, T6E 5J4. Our move went well and the place is looking great.  There are a few loose ends that need to be completed, […]

Oct 28 2014
Child Fitness Tax Credit

The Conservative government has announced some changes to the children’s fitness tax credit which will begin taking effect for the 2014 Income Tax year: 1)      For the 2014 income tax year, the fitness tax credit is increasing from $500 to $1,000.  This credit is non-refundable. This means that parents whose income is too low and […]