# Taxation and Investment Advisor?



## Addy (Mar 12, 2010)

We have a very small business (contracting company that does no more than 5K/yr in sales) plus a two income household totalling around 100K. Our mortage is paid off, and we are somewhat (still far to go) knowledgeable about taxes, very knowledgeable about our expenses and other finances. We want to get some tax and investment advice but I don't know how to find a knowledgeable person(s).

Where do most people go for this type of advice - a chartered accountant? Financial Manager? And how can you tell if they are top notch or just mediocre?


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## Four Pillars (Apr 5, 2009)

Addy said:


> We have a very small business (contracting company that does no more than 5K/yr in sales) plus a two income household totalling around 100K. Our mortage is paid off, and we are somewhat (still far to go) knowledgeable about taxes, very knowledgeable about our expenses and other finances. We want to get some tax and investment advice but I don't know how to find a knowledgeable person(s).
> 
> Where do most people go for this type of advice - a chartered accountant? Financial Manager? And how can you tell if they are top notch or just mediocre?


This guy seems pretty good. I may consider using him myself.

http://blog.taxresource.ca/consulting-practice-update/


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## MoneyGal (Apr 24, 2009)

When you say you want investment advice, you are in many respects limiting yourself to someone with an investment license. And because you do not say you are looking for an investment advisor (i.e., someone to manage your investments), you will need a fee-for-service advisor (i.e., someone who you pay for advice, not to manage your investments). 

(Side note: an unlicensed fee-for-service financial planner can comment on your asset allocation and tax issues, but may not recommend for or against any specific investment holdings. Activities "in furtherance of a trade" require registration with the appropriate registrar.) 

There are people out there, but this is a difficult market niche to make work. As a starting point, I'd say you want someone with a CFP or RFP designation - and obviously someone who says they do fee-for-service financial planning and who also holds an investment license. 

However, if you really mostly want TAX advice (i.e., the tax consequences of various investment options), an accountant or other experienced personal tax preparer should be fine.


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## Addy (Mar 12, 2010)

Four Pillars thats funny, I was just reading that guys blog this morning. I will have to read up on him a bit more.

Moneygal you raise a good point - I'm looking for tax advise regarding investments... not just advising us the tax implications of what investments we currently have, but to get some input into what investments (tax wise) may be better in our situation. I don't want anyone but my husband and I having control over our investments, so it sounds like a tax accountant may be what we need.

I just don't want someone who isn't willing to give us some food for thought - I understand there may be some professionals who don't want to steer clients in the direction of one investment or another, but it would be nice to talk with someone who is knowledgeable enough to give us some suggestions on things we may want to consider.


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## MoneyGal (Apr 24, 2009)

Great! Sounds like you've identified what you need. I worked with several FANTASTIC accountants over my years of self-employment and business ownership and have had really good advice and great relationships.


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## kcowan (Jul 1, 2010)

MoneyGal said:


> Great! Sounds like you've identified what you need. I worked with several FANTASTIC accountants over my years of self-employment and business ownership and have had really good advice and great relationships.


Also remember that tax advice and investment advice are often separate things that require two people. And a real financial plan (as opposed to an asset allocation) might require a third expert. Stay flexible!


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