_BUSINESS |

Financial planners meet Get guide at tax office

‘Just HOW good — and how
regulated — are financial plan-
ners? ”

“Financial planning’**: has
become one of the buzz words of
the 80s as people seck to survive
and hopefully profit, from . our

. : rae
uncertain economy, wild swings in“:

the stock market and constantly!
changing tax tues.) | i

But who makes sure ‘the finan-|
cial planners are providing sound
advice to their increasing numbers
of clients?

Governments lean toward.
hands-off. approach, - while ‘the
profession seeks to set its own

. standards. oo 4

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| rhe question of who will -regu-
date financial planners is expected
{0 be.a controversial topic when ‘it
is discussed by a, panel at the
jFourth, “Annual National Meeting
of the Canadian, Association of
} Financial Planners, to be held June
2-4 at the Hott Vancouver. .

_ Thirty-three’ speakers. will ad-
dress several hundred financial

planners.:from across Canada dur- |

ing the three-day conference. Na-
tional president Tim Egan will
open the meeting, while Fraser In-

stitute president; Michael Walker ..

will speak to the closing lunch.
* Non-CAFP | members: are’ wel-
come to attend. Call 681-3226 for
registration information.

(gage interest (you might

From page 22
Deduct all stationery and other of-
fice expenses like photocopying.
‘Deduct entertainment expenses

’ when you promote your product or’.

service. However, a new rule limits
business: meal expenses ta 80. per

cent of.the bill.

Deduct. travel expenses — or at
least the portion of those expenses
you can relate to. earning self-

employment income. (Travelling to

and” from | work doesn’t count
here.)

Tax reform is cutting down o
deducting expenses for an office i
the home. You may’ still claim a
portion; of the hydro, rent, mor-
f have va

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fight over this one), |
proportion to the area of the home
devoted to the self-employed activ-
ity. oa
But tax reform has toughened
up the definition of a home office,
and won't allow these expenses to
create or increase a toss, though
they may be carried forward.

The new car expense rules would
take more
describe, Most major: accounting
firms.will send you. a free leaflet
describing the various options.

Nixon, of G.B. Nixon. &

by
Associates Inc,, suggested choas-

ing a year-end ‘other than Dec. 31,
to defer tax,

property .
taxes, maintenance and so.on in.

than) a- column to”

‘He also ‘Suggested ° transferring -
items ‘from personal to business
use (camera, tape recorder, type-
writer, computer anything
which iwould be devoted to
business purposes). Use the ‘fair

» market value at the time of trans-

fer, then start to islaim deprecia-

tion,

Pay your spouse ‘and children i in
a lower tax bracket ‘to work. for

“you, The amount,must. be reason-

able “Yor the services performed.

Consider incorporating if: you
consistently carn more money than
you need to. cover. your expenses,
or, ifs your self-employment activity. .

= grows. soothers become involved,

cither as employees or partners, |

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