Personal Tax Preparation Planning: Advisors' Virtual Tax Preparation Companion

By AGF Management Limited

Get ready for tax season with this helpful guide for financial advisors.

Tax-efficient planning is important to your client, and this course helps you get organized so you can provide it.

In this video, Michael Kulbak of Kulbak Trust Solutions helps you stay on top of tax time as he discusses how to prepare for the season before meeting with clients and what to discuss with them when you meet. The course focuses on clients' changing circumstances, compared to prior years, related to income, deductions, and credits, and it highlights tax-related changes from the 2022 federal budget.

Kulbak also walks you through three client cases — a new client, an existing client, and a deceased client — outlining items to address such as the principal residence exemption, retiring allowances, spousal support, and capital losses.

After taking this course, you’ll know:

• how to get organized ahead of a meeting with clients
• the importance of engagement letters
• what new client information is required ahead of preparing a tax return
• topics to query clients about and the changes to assess regarding their incomes, deductions, and credits
• tax-related highlights from the 2022 federal budget
• common client scenarios and misunderstandings to address