Le Lézard
Classified in: Science and technology, Business
Subjects: PDT, JVN, ACC

Blue J Legal Announces Collaboration with Moodys Tax on Advanced TOSI Navigator

TORONTO, Nov. 12, 2019 /CNW/ -- Blue J Legal announced today its partnership with Moodys Tax, an integrated tax law/advisory, planning, and accounting firm, to develop a dynamic Tax on Split Income (TOSI) navigator, housed on Blue J Legal's Canadian Tax Foresight platform. This strategic collaboration marks a first-of-its-kind solution.

This TOSI navigator was designed to be an interactive and user-friendly version of the Moodys Tax integral flowchart, which has been adopted as the industry standard for financial professionals across Canada. The updated navigator incorporates CRA guidance for greater comprehensibility and quality assurance for users. It also provides a dynamic approach to the users' fact pattern and is able to respond to each particular situation with the relevant prompts to ensure complex exclusions are not missed.

"The TOSI rules are extraordinarily complex, even compared to the high level of complexity elsewhere in income tax law. We're excited to help clarify those issues for tax professionals with our updated Tax Foresight platform," said Benjamin Alarie, CEO, and co-founder of Blue J Legal. "Moodys Tax is recognized as the leading source for a structured approach to interpreting TOSI and we are proud to have the chance to work with them. The Tax Foresight TOSI solution is unprecedented, and we look forward to helping to eliminate the confusion that surrounds the TOSI rules." 

The TOSI legislation, which took effect January 1, 2018, expands the category of individuals subject to TOSI rules to include children who are over 18 and other related adult individuals who are residents of Canada and adds several exclusions. The sheer volume of these exclusions makes the guidelines complicated to navigate and raises significant challenges for tax professionals. The collaboration between Blue J Legal and Moodys Tax marks the first advanced machine learning platform to introduce a feature specifically to handle TOSI and reduce complexities.

"Collaborating on this feature was an extremely positive process because of our shared goal ? TOSI should be universally understood by all, rather than inhibitive," said Kim G C Moody, CEO & Director of Canadian Tax Advisory at Moodys Tax. "Our teams have worked diligently together this past year to create a solution that streamlines advice regarding TOSI. The result is a powerful resource that the leading tax professionals at law and accounting firms nationwide will leverage to remain at the forefront of tax advice."

The TOSI navigator is a critical investment and marks the first collaboration for Blue J Legal as the company continues to expand its Canadian operations with new platform updates.

About Blue J Legal

Blue J Legal uses machine learning and artificial intelligence to make the law more transparent and accessible. The company's technology saves users hours of time and offers confident answers in challenging circumstances. While the company's initial focus is on tax and employment law, the technology is versatile and is being extended to cover other areas of law in the U.S., Canada, and around the world. For more information, visit www.bluejlegal.com.

About Moodys Tax

Moodys Tax is an integrated team of Canadian and US lawyers and accountants through a strategic relationship between Moodys Gartner Tax Law LLP and Moodys Private Client LLP. Moodys Tax provides tax advisory, planning, and cross-border tax and accounting for individuals with personal and business interests on either side of the Canada-US border, no matter where they live in the world. For more information, visit www.moodystax.com.

SOURCE Blue J Legal

These press releases may also interest you

at 16:05
McAfee, the device-to-cloud cybersecurity company, today announced it will host the CEO Action "Check Your Blind Spots" mobile tour at the company's headquarters in Santa Clara, California on Wednesday, December 11, 2019. The tour bus is an...

at 16:00
WorkFusion, a top provider of Intelligent Automation software, today announced it received the highest score among 18 vendors for the "Augment Knowledge Workers" use case in Gartner's "Critical Capabilities for Robotic Process Automation" (RPA)...

at 16:00
When it comes to SEO, knowing where to start is not a walk in the park. Although there are tons of resources online, a newbie in this field would still find it difficult to know where and how exactly to start. The HOTH has recently made available a...

at 16:00
Marketing makes up a large chunk of every major company's budget. However, many of those companies have no way of knowing whether they are getting their money's worth or not. iWriter came up with a comprehensive list of the most effective marketing...

at 16:00
Isegoria, an independently funded blockchain-based news, media, entertainment and educational platform founded by multi-award-winning investigative journalist Ben Swann, announces that award-winning designer and brand expert Alison Childs has joined...

at 16:00
Amgen today announced that its Board of Directors declared a $1.60 per share dividend for the first quarter of 2020. The dividend will be paid on March 6, 2020, to all stockholders of record as of the close of business on Feb. 14, 2020. This...

News published on 12 november 2019 at 09:00 and distributed by: