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There is so much info on Covid, I have not done much with it on my blog here. A search on COVID revealed ZERO results just now. So here is the 1st posting directly on the topic that I receently shared on facebook. Enjoy, reflect. ~ TLR

"This is interesting, surprisingly Canada is on the map ( often our global impact is so small we do not get noticed as a country ) , sometimes we wonder how did they do it so fast ? Well, the devil may be in the details, the fear certainly is, anyway, corona viruses have been studied for ages, so it was not a big deal to figure out how this one was composed, and thus a vaccine could be quickly figured out as it's basically a process that companies in this business have been working on for a long time, so the system is in place to get the job done, on this one the companies received billions of dollars in advance basically they were prepaid and didn't have to go get the R&D funds allocated to the projects. This basically made it so they could turn themselves loose on the systems they had, money that often takes years to get in-order to do the work was there, it wasn't piecemealed out , so the research and testing was implemented right away, also the red tape of government that slows down the work approval process was lifted / change to be more responsive , this thus allowed quicker turn arounds, thus the warp speed results we are seeing on a massive scale. Good or Bad, money and systems allowed it to happen, we can thank Donald Trump for making large amounts of the money available, I am sure there was other countries adding some fuel to the pot, but his teams push made the difference on this. A lot of money was made in this space, and lots more will be made, looking back on it all 3-4 years from now will be interesting indeed, legacy kind-a stuff I think. In the meantime, work on your immunity " ~ TLR

https://www.visualcapitalist.com/tracking-covid-19-vaccines-around-the-world/

Holiday Schedule - Customer Service and Support Centre

Brock Shores Financial & Timothy Ross & Associates

wishes you Wonderful, Amazing Holiday Season!

May your Christmas be Merry and your New Year be Happy!

In order to maintain our commitment to provide you with efficient and professional services at all times, we invite you to review below the modified schedule for the Office at 4502 Airport Road Tincap during the Holiday period:

Modified Business Hours for the Holiday period (EST)

December 14 to December 20, 2020  Regular Schedule

December 21, 2020  to Jauary 3rd 2021:  Closed

 January 4th 2021 , Regular Schedule Begins

If you have an emergency, please call 613-213-4625 and leave a message and we will get back to you.

Thank you for your business, 2020 has been an interest year, it seemed to drag on for ever, yet fly by at the same time.

From all of us, please accept our deepest and best wishes for a safe and happy holiday season, and every success in 2021.

Timothy Ross

CEO, Founder

https://www.facebook.com/improvingfutures

https://www.facebook.com/TimothyRossAssociates

https://www.google.com/search?q=brock+shores+financial

"As the old year retires and a new one is born, we commit into the hands of our creator the happenings of the past year and ask for direction and guidance in the new one. May he grant us his grace, his tranquility and His wisdom! ~ Peggy Toney Horton 

As we move into the new yr, CRA is updating their systems. First notice we have is regarding T1013's

1. Authorization Request Service Interruption

Please be advised that the authorization services in Represent a Client will be unavailable on December 23, 2020, until January 4, 2021.

Year end reporting is way more complicated this yr, this is a helpful article, and some links to CRA site built in ~ TLR

http://www.canadian-accountant.com/content/partner-posts/understanding-wage-subsidies-at-year-end

Rachel Fisch of Wagepoint on TWS & CEWS compliance in time for 2020 year-end

Rachel Fisch is a strategic advisor at Wagepoint. Join Rachel  and Juliet Aurora, co-founder of AIS Solutions & Kninja Knetwork, on December 16, 2020, for a webinar on reporting wage subsidies for 2020 year-end.

Year-end reporting is complicated in a normal year — in 2020, it’s “rocket surgery.” 

This year saw the federal government introduce two different wage subsidies to support small businesses during the COVID-19 pandemic: the 10% Temporary Wage Subsidy for Employers (TWS) and the Canada Emergency Wage Subsidy (CEWS). Both subsidies are considered income for the small businesses who took advantage of them and, as such, they each have specific reporting requirements. 

If you and your small business clients are feeling overwhelmed, you’re certainly not alone. This overview will walk you through the ABCs of the wage subsidies, and if you’re still confused about closing your clients’ books, you can join our December 16th webinar to go over it all in detail. I will be hosting this webinar with Juliet Aurora, co-founder of AIS Solutions & Kninja Knetwork. 

Your TV Interview with Tim 2020 Year End Tax Review

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PEAK STOOD OUT  in Leadership, Employee Engagement, Talent Focus

https://www.peakgroup.com/en/

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DIVIDEND TIME YEAR END 2020 

It's that time of year to check out estimated Dividends. I started looking at over the last couple months at the trends to get some perspective of the tax burden we will be facing, it's going to be more than 2019, It's Dividend Time ! 

Common  theme I am seeing in communications from our portfolio managers and fund companies,  Q: Why are the estimated distributions relatively high ?

Well, volatility, and many companies have been profitable during the plandemic. So trading creates capital gains dividends, profits create income type dividends. We will see higher dividends this year, depending on your asset class and type of portfolio, 2-4% will not be uncommon in many portfolio's. If you have done a lot of trading or your manager has, expect taxable capital gains, if these are significant, some planning may be in order, or at a bare minimum a resolve to be a happy tax payer, I know a couple who are.  This is brief update, everyone will be different. Just a "Heads Up",  thankfully it's been a good year for peoples investments for the most part. Around the world, it's been a little rough lok at Spain and Russia, US pretty good , Canada not even on the list.  This link I found gives a bit of perspective.

https://luckboxmagazine.com/trends/best-and-worst-global-stock-markets-in-2020/

Remember, celebrate dividends, means business was good for the most part, only downside, you will need to share some of them with the government and they need the money, also remember dividends have already had taxes paid on them by the companies owned, so there is some tax advamatges of receiveing income that has been pretaxed, not going into the details, that will be a whole new topic, I will probably find a few articles that explain it so much better than I can. The important thing here is to be aware. 

So, Perhaps will dive a little deeper on this topic going forward.  Search the site at the top right corner for keyword Dividends for other posts in the past and in the future.

Also check the comment section for articles regarding the topic 

As a member , if you come across a relevant article , please post in the comment section, so we can all benefit

Thank you

TLR 

PEAK Disclosure - Click to reflect

Received this email on Monday, as i'm going through my feeds, I thought interesting, people might like this and it's a reminder of the dangers we all face. Some good questions to ask yourself ~ TLR

Is this the path you’re on?

Burnout wipes out a lot of businesses every year. I heard a clinician say that being in a high stress state all the time literally ages your body faster. Terrifying.

Here are the ingredients required to burnout, pretty much guaranteed.

(if you recognise the ingredients here, I’d recommend re-thinking the recipe you’re using to run your business, before you start to show symptoms… it is not pretty if you don't take stress seriously)

Ingredients:

1. A large dollop of ‘hussle’: I just need to work HARDER. There’s a difference between knowing the value of hard work when needed and work for work's sake. The glamour of wanting to feel busy all the time doesn't last

2. A dash of ‘do-everything-myself-itis’: to get this ingredient, refuse to automate or outsource anything. This is an important part of the burnout recipe as you need all moving parts on your shoulders, and your shoulders alone

3. Start every processes from scratch every time: Refuse to standardise any of your repeated admin tasks. No templates. No systems. This way you duplicate as much work as humanly possible for yourself

4. Do everything possible to get more quantity of work than you can handle... regardless of the quality: the more hours you can work in a week, the more successful you are, right?

5. Learn nothing: no iterating, no reviews, no course correction. Just keep your head down and keep going wherever you’re currently headed

Viola!

You’re ready for a full meltdown!

In all seriousness, please don’t do this. It’s incredibly bad for your health. Especially your heart.

Here’s a quick insight into how you could fix your course…

List out everything you’ve got going on in your business. I mean everything (it wont take as long as you may think).

As a thought experiment answer the following question:

If you had to work no more than 2 hours a day and still had to get 80% of the same output, what would you do?

It may involve outsourcing some tasks.

It may involve removing a lot of things from your to do list that aren’t actually impactful.

It may involve learning new technology to automate things.

The answers to this question can open the door to working less.

Working less means you have more mental resources.

You’re more likely to stay healthy, and far less likely to burnout.

‘Till tomorrow

Roger 'work smart not hard' Knecht

President, Universal Accounting Center  https://universalaccountingschool.com/

It's a training school in Utah , some different rules in US vs Canada, however, prinicpals apply around the world and are transferable amongst industry, so if your in business or want to improve your employers business and your own life by bringing more value, there might be something here for you. 

"We must learn to apply all that we know so that we can attract all that we want." ~ Jim Rohn

http://www.guaranteed-success.com/learning-by-jim-rohn

http://www.canadian-accountant.com/content/practice/blueprinting-success-secrets-to-being-audit-ready

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Marriage Tips To Wrap Up 2020

Will add a few tips that I have been receiving lately, I hope they encourage you and your spouse or perhaps a friend that you share this link with. TLR

Article#1

A simple way to make your spouse's day — and your marriage — better.

"By considering these scenarios, you’ll create more opportunity to use such language elsewhere. Validation is a powerful tool: used correctly, you’re showing your partner not only that you recognize how hard he or she is working, but that you express this appreciation in small, obvious ways. As often, it’s the simplest things that have the biggest results." .... 

https://www.fatherly.com/love-money/show-your-partner-appreciation-in-a-marriage/

 Article#2

 https://www.fatherly.com/love-money/traits-all-happily-married-men-share/

Article # 3

The first step is to, well, try to be a better husband. We’re not kidding around. The best marriages are those in which both members play active roles, where they not only identify their flaws (i.e. “I invalidate your feelings too much”; “I often bring home work stress”) but also find ways to fix them. In attempting to know yourself better — your strengths, your weaknesses, your sometimes-good-sometimes-bad-tendencies — you will become not just a good husband but an evolving one. In other words: Make an effort, do the work, and you’ll be rewarded. Want to start? Well, there are a number of small, simple things that all of us can focus on to be happier, more present, and more attentive husbands and partners. Like these nine items right here.

https://www.fatherly.com/love-money/marriage-advice-be-better-husband-nine-simple-ways/

https://movember.com/t/omega-stewardship?mc=1

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"While the Government of Canada has focused its resources on creating and implementing relief programs to support Canadian businesses impacted by the COVID-19 pandemic, it is inevitable that the government will soon shift its focus to ensuring that applicants were eligible for the relief that they claimed and received. Presently, the CRA is working on creating a post-payment tax audit program that will focus on CEWS applications made between March 15^th, 2020 and July 4^th, 2020. The purpose of the post-payment tax audit program is for the CRA to identify the various measures of non-compliance with the CEWS legislation.

Given the ongoing concerns associated with the CEWS program, Canadian businesses and organizations should bear in mind that any CRA tax audit, including an audit into a CEWS application, can result in the CRA requesting access to details, including corporate and financial records, that may not be relevant to the CEWS claim as part of a broader tax audit. As such, businesses applying for any of the above-mentioned relief programs should review the relevant eligibility criteria, posted on CRA's website, prior to submitting their claim. Further, businesses and organizations that notice an error in their relief application or in any payment received (as a result of a claim made to any of the above-mentioned benefits) should contact the CRA immediately to address the error and to confirm their benefit eligibility."

http://www.canadian-accountant.com/content/practice/updates-to-cers-cews-ceba

 PEAK Disclosure - Click to lEarn

"If you want to become wealthy, there are certain things you must understand and certain things you must do. First, you must understand what kind of wealth you’re pursuing and how the economy functions that generates this wealth. Second, you must wisely invest the required resources in order to realize an increase of the wealth the economy produces. These principles hold true whether you’re pursuing wealth in God’s economy or in the world’s economies.

Now, the kind of wealth God’s economy produces and the kind of wealth the world’s economies produce are very different. The former makes us “enriched in every way to be generous in every way” (2 Corinthians 9:11), while the latter threatens to pierce us with “many pangs” (1 Timothy 6:10) and even to steal our soul (Matthew 16:26).

But in either case, we must value (desire) what each economy offers (Matthew 6:19–21), we must understand how each economy works (Luke 16:1–8), and we must invest in ways that take advantage of that economy’s production (Matthew 25:14–30). Obtaining the riches we desire depends on whether or not we meet these conditions.

To those who wish to become truly rich, the Bible offers this astounding promise:" .... 

https://www.desiringgod.org/articles/giving-is-the-greatest-wealth

November 18, 2020 – My Legacy: Envision, Build, Communicate and Live Your Best Legacy

A. Director, Legacy at Toronto Foundation https://torontofoundation.ca/

B.  Everyday Legacy: Lessons For Living With Purpose, Right Now.

 https://www.everydaylegacy.com/livingyoureverydaylegacy:findingpurposeevenintimesofuncertainty

Your Tool For Clear And Intentional Generosity   https://thesignatry.com/

DON’T LET FAMILY STORIES BE LOST AND FORGOTTEN  https://paragonroad.com/   

This is a great download   https://paragonroad.com/5stories/

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Great article came intoday that we should review to be able to do our best when engaged in training and learning online ~ TLR

https://blog.commonwealth.com/keeping-everyone-engaged-tips-for-virtual-training

Give Energy, Get Energy

If people aren’t paying attention to you, it’s hard to keep your own energy levels high—and keep the class engaged. In an in-person class, you could walk around the room to make connections and get people’s attention. But with everyone on mute, it’s difficult to reclaim energy, feed off it, and put it back into the presentation. You need to give energy to get it back. The class will follow. Here’s how to keep the energy going from start to finish from your computer.

Break the ice. As folks filter in, I engage in light, sometimes funny banter that gets people used to speaking and feeling more comfortable. This starts the class in a welcoming way and helps build a connection.

View your voice as a powerful tool. Your voice conveys your excitement—or lack thereof. My virtual presentation voice has more varied highs and lows. It’s much more demonstrative. When one of my questions gets answered, I give very enthusiastic responses, such as “Boom! That’s right!” or “Fantastic answer!”

Give an incentive for responding. Five seconds of silence in a virtual setting is an eternity. I let trainees know I’m cool with letting the uncomfortable silence go on as long as it needs to. This almost always prompts responses because most people hate silence. If that doesn’t do it, I simplify my questions and suggest answers to keep the responses coming.

......    https://blog.commonwealth.com/keeping-everyone-engaged-tips-for-virtual-training

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Loving seeds, this is a great idea for organizations to consider to raise funds and encourage growing gardens 

https://fundraising.westcoastseeds.com/

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https://improvingfutures.ning.com/blog/peak-dealership-representative-disclosure

Many of our Portfolio Partners have calculators on their website. We have some on ours as well that you can check out at http://www.timothyross.com , click on Advisor Tools

“The difference between the poet and the mathematician is that the poet tries to get his head into the heavens while the mathematician tries to get the heavens into his head.” ― G.K. Chesterton

https://www.mackenzieinvestments.com/en/investor-education/investor-tools

RETIREMENT PLANNING

RRSP Calculator
Calculate how much you will need to save between now and the day you retire.

RRSP Illustrator
Get a personalized assessment of the tax benefits you gain by investing in your RRSP.

RRSP Loan Planner
Find out how an RRSP loan could help boost your income at retirement.

RIF/LIF Illustrator
Find out how much income your Registered Savings plan will generate in retirement.

Registered/Non-Registered Comparison
Weigh the benefits of registered versus non-registered growth.

 INVESTMENT & SAVINGS

Advantage of Early Investing
Learn the importance of investing early and on a regular basis.

Investment & Regular Deposit
See how your one time investment or regular deposit program will grow over the years.

Investment & Regular Withdrawal
Calculate the regular income stream generated by your non-registered investment.

RESP 

RESP Calculator
Discover how much your money can grow in an RESP and how much you will need to save for your children's education.

MORGAGE & LENDING

Mortgage Qualifier
Use this calculator to find out how much you could qualify for and what your monthly payments would be.

Mortgage and Loan Amortization Scheduler
This easy to use tool provides a detailed payment schedule for your mortgage or loan.

Debt Consolidator
This calculator can show you how much you might save by consolidating your debt at a lower interest rate.

PERSONAL FINANCE

Household Cash Flow Statement
The first step in building a wise financial plan is determining your family's income and expenses.

Net Worth Statement
Complete your personal financial picture by pinpointing your personal assets and liabilities. 

BUYING A HOUSE or PROPERTY, this is a pretty good calculator, it covers a lot of math that will become part of the processing of getting a home or rental. 

https://www.ratehub.ca/mortgage-payment-calculator

“Solving a problem for which you know there’s an answer is like climbing a mountain with a guide, along a trail someone else has laid. In mathematics, the truth is somewhere out there in a place no one knows, beyond all the beaten paths. And it’s not always at the top of the mountain. It might be in a crack on the smoothest cliff or somewhere deep in the valley.” ― Yoko Ogawa, The Housekeeper and the Professor

Looks like this would be an interesting read https://www.goodreads.com/book/show/3181564-the-housekeeper-and-the-professor