Why does the team at Gilmour Group talk about formulas for success? How does that make a difference to the quality of tax advice clients receive?
The CPA profession is under going change. Tax policy in Canada is changing more than it has in 50 years. Small business owners are under attack and their key advisors are busy elsewhere.
The formulas within the Income Tax Act (ITA) are changing and the Gilmour Group team has realized that tax advice also needs to change.
The Gilmour Group team is taking a new approach. The ITA is full of formulas. It is time to realize that formulas are an expression of science and technology.
We need to talk about STEM (Science Technology Engineering and Math) and TAX together. If you look at STEM and you look at tax you see many cross overs and similarities.
This FAQ series of the tax and accounting formulas for success will cover the math and science of tax.
- Tax = Money X Politics: Tax is a story told in numbers but the characters are real life politicians and voters.
- Accounting is a zero sum game: What does it means to “balance the books”?
- Tax is not a zero sum game: Can tax really be avoided?
- Late versus Correction: Being late can be more costly than having to make a correction: Knowing when to wait for the correct answer versus when its better to provide a timely answer.
- Other topics will be added to this series.
If you want to discuss the real world “formula” of tax and accounting, please contact us below, where we are working to ensure every client gets a chance to learn and act on the formula that is best for them.