The Tax Chick Podcast Transistor (https://transistor.fm) https://feeds.transistor.fm/the-tax-chick-podcast Tax is complex, but it does not always have to be so complicated and shrouded in mystery. Host Amanda Doucette is a self-proclaimed foodie, spin class and Pilates enthusiast, and a tax lawyer. She fell into the practice of tax law despite having a life-long hatred of spreadsheets, math and numbers in general. Join Amanda and her guests as they unpack some serious Canadian tax topics and attempt to demystify the world of tax. @2026 Tax Chick Management Ltd. e5e87f2a-52df-59bc-9d92-34280358dfe0 no Welcome to The Tax Chick Podcast en Tue, 24 Mar 2026 07:00:12 -0500 Tue, 24 Mar 2026 07:01:37 -0500 https://thetaxchickpodcast.transistor.fm https://img.transistorcdn.com/Evwc-tlTkvbLEJTtQYHbQRV3-SlELWY_n6_q9qUtC2M/rs:fill:0:0:1/w:1400/h:1400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzEyNzIyLzE1OTU2/ODg5NzQtYXJ0d29y/ay5qcGc.jpg The Tax Chick Podcast https://thetaxchickpodcast.transistor.fm episodic Amanda Doucette Tax is complex, but it does not always have to be so complicated and shrouded in mystery. Host Amanda Doucette is a self-proclaimed foodie, spin class and Pilates enthusiast, and a tax lawyer. She fell into the practice of tax law despite having a life-long hatred of spreadsheets, math and numbers in general. Join Amanda and her guests as they unpack some serious Canadian tax topics and attempt to demystify the world of tax. Tax is complex, but it does not always have to be so complicated and shrouded in mystery. tax, business, entrepreneur, finance Amanda Doucette No No CRA Audits: What to do (and what not to panic about)! 7 7 4 4 CRA Audits: What to do (and what not to panic about)! full 42db85b7-ec61-496e-9efc-57b8dacc175e https://share.transistor.fm/s/e62bdbf3 Being audited by the CRA can feel stressful, especially with audit activity on the rise. In this episode I walk through what a CRA audit actually looks like and what to do if you or your client receives an audit request, including: 
[2:00] How audits are triggered (including the difference between a full audit and a limited review)
[3:00] Limitation periods, and the basics of what to look for in an introduction letter
[5:10] what the CRA is entitled to ask for, and how to respond in a way that’s organized and strategic. 
[6:55] Common concerns about electronic records
[11:35] Solicitor‑client privilege
[16:05] Deadlines, and how audits typically come to an end.

This episode is for business owners, advisors, and anyone who wants to understand the audit process without panic.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Being audited by the CRA can feel stressful, especially with audit activity on the rise. In this episode I walk through what a CRA audit actually looks like and what to do if you or your client receives an audit request, including: 
[2:00] How audits are triggered (including the difference between a full audit and a limited review)
[3:00] Limitation periods, and the basics of what to look for in an introduction letter
[5:10] what the CRA is entitled to ask for, and how to respond in a way that’s organized and strategic. 
[6:55] Common concerns about electronic records
[11:35] Solicitor‑client privilege
[16:05] Deadlines, and how audits typically come to an end.

This episode is for business owners, advisors, and anyone who wants to understand the audit process without panic.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Tue, 24 Mar 2026 07:00:00 -0500 Amanda Doucette Amanda Doucette 1180 Being audited by the CRA can feel stressful, especially with audit activity on the rise. In this episode I walk through what a CRA audit actually looks like and what to do if you or your client receives an audit request, including: 
[2:00] How audits are triggered (including the difference between a full audit and a limited review)
[3:00] Limitation periods, and the basics of what to look for in an introduction letter
[5:10] what the CRA is entitled to ask for, and how to respond in a way that’s organized and strategic. 
[6:55] Common concerns about electronic records
[11:35] Solicitor‑client privilege
[16:05] Deadlines, and how audits typically come to an end.

This episode is for business owners, advisors, and anyone who wants to understand the audit process without panic.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> tax, business, entrepreneur, finance No Season 7: Why We’re Still Talking About Tax 7 7 1 1 Season 7: Why We’re Still Talking About Tax full 3bca76aa-8462-4b2e-a408-edcf72a01004 https://share.transistor.fm/s/cc2db8d8 Season 7 of The Tax Chick Podcast is here!

I started this podcast back in 2020 to help people understand the Canadian tax system in plain language. Six years later, I’m still here, still doing my own editing and producing, and still showing up because this podcast has a purpose.

In this short kickoff episode, I share why I make this podcast, what I discovered about my role in the tax community, and how that is shaping Season 7. This season is focused on practical tax education, real conversations with people working in tax, and continuing to make tax feel more human, accessible, and less overwhelming.

Whether you’re an advisor, a business owner, a student, or someone who’s ever thought “I just wish someone would explain this properly,” this podcast is for you.

Thanks so much for being here!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Season 7 of The Tax Chick Podcast is here!

I started this podcast back in 2020 to help people understand the Canadian tax system in plain language. Six years later, I’m still here, still doing my own editing and producing, and still showing up because this podcast has a purpose.

In this short kickoff episode, I share why I make this podcast, what I discovered about my role in the tax community, and how that is shaping Season 7. This season is focused on practical tax education, real conversations with people working in tax, and continuing to make tax feel more human, accessible, and less overwhelming.

Whether you’re an advisor, a business owner, a student, or someone who’s ever thought “I just wish someone would explain this properly,” this podcast is for you.

Thanks so much for being here!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Tue, 24 Mar 2026 07:00:00 -0500 Amanda Doucette Amanda Doucette 673 Season 7 of The Tax Chick Podcast is here!

I started this podcast back in 2020 to help people understand the Canadian tax system in plain language. Six years later, I’m still here, still doing my own editing and producing, and still showing up because this podcast has a purpose.

In this short kickoff episode, I share why I make this podcast, what I discovered about my role in the tax community, and how that is shaping Season 7. This season is focused on practical tax education, real conversations with people working in tax, and continuing to make tax feel more human, accessible, and less overwhelming.

Whether you’re an advisor, a business owner, a student, or someone who’s ever thought “I just wish someone would explain this properly,” this podcast is for you.

Thanks so much for being here!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> tax, business, entrepreneur, finance No More Than Complaints: A Candid Conversation with the Taxpayers' Ombudsperson (Part II) 7 7 3 3 More Than Complaints: A Candid Conversation with the Taxpayers' Ombudsperson (Part II) full 175f3651-4359-4f25-bd44-76e83f6a3398 https://share.transistor.fm/s/78b07407 This is Part 2 of a two-part conversation with François Boileau, Canada’s Taxpayer Ombudsperson. In this episode, we continue our candid discussion about fairness in tax administration, CRA service delays, systemic challenges, and what meaningful change could look like for taxpayers and practitioners alike.

Together, we explore the realities facing taxpayers today, the pressures on the Ombudsperson’s office, and why this moment may be ripe for a broader national conversation about Canada’s tax system.  

In this episode, we discuss:

  • [2:00] CRA standards of service and realistic timelines (what taxpayers can actually expect)
  • [6:40] Complaint statistics and emerging trends seen by the Ombudsperson’s office
  • [11:00] The Taxpayer Bill of Rights: what it is, what it isn’t, and how it’s used in practice
  • [15:35] What keeps the Taxpayer Ombudsman up at night and the biggest challenges ahead
  • [19:00] What gives reason for hope, including whether it’s time for a national discussion on taxation
  • [23:00] Practical takeaways and advice for tax practitioners navigating today’s system

This episode is especially valuable for tax professionals, advisors, and anyone interested in how fairness, access, and accountability intersect within Canada’s tax system.


RESOURCES DISCUSSED ON THIS EPISODE:

MORE ABOUT OUR SPECIAL GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> This is Part 2 of a two-part conversation with François Boileau, Canada’s Taxpayer Ombudsperson. In this episode, we continue our candid discussion about fairness in tax administration, CRA service delays, systemic challenges, and what meaningful change could look like for taxpayers and practitioners alike.

Together, we explore the realities facing taxpayers today, the pressures on the Ombudsperson’s office, and why this moment may be ripe for a broader national conversation about Canada’s tax system.  

In this episode, we discuss:

  • [2:00] CRA standards of service and realistic timelines (what taxpayers can actually expect)
  • [6:40] Complaint statistics and emerging trends seen by the Ombudsperson’s office
  • [11:00] The Taxpayer Bill of Rights: what it is, what it isn’t, and how it’s used in practice
  • [15:35] What keeps the Taxpayer Ombudsman up at night and the biggest challenges ahead
  • [19:00] What gives reason for hope, including whether it’s time for a national discussion on taxation
  • [23:00] Practical takeaways and advice for tax practitioners navigating today’s system

This episode is especially valuable for tax professionals, advisors, and anyone interested in how fairness, access, and accountability intersect within Canada’s tax system.


RESOURCES DISCUSSED ON THIS EPISODE:

MORE ABOUT OUR SPECIAL GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Tue, 24 Mar 2026 07:00:00 -0500 Amanda Doucette Amanda Doucette 1852 This is Part 2 of a two-part conversation with François Boileau, Canada’s Taxpayer Ombudsperson. In this episode, we continue our candid discussion about fairness in tax administration, CRA service delays, systemic challenges, and what meaningful change could look like for taxpayers and practitioners alike.

Together, we explore the realities facing taxpayers today, the pressures on the Ombudsperson’s office, and why this moment may be ripe for a broader national conversation about Canada’s tax system.  

In this episode, we discuss:

  • [2:00] CRA standards of service and realistic timelines (what taxpayers can actually expect)
  • [6:40] Complaint statistics and emerging trends seen by the Ombudsperson’s office
  • [11:00] The Taxpayer Bill of Rights: what it is, what it isn’t, and how it’s used in practice
  • [15:35] What keeps the Taxpayer Ombudsman up at night and the biggest challenges ahead
  • [19:00] What gives reason for hope, including whether it’s time for a national discussion on taxation
  • [23:00] Practical takeaways and advice for tax practitioners navigating today’s system

This episode is especially valuable for tax professionals, advisors, and anyone interested in how fairness, access, and accountability intersect within Canada’s tax system.


RESOURCES DISCUSSED ON THIS EPISODE:

MORE ABOUT OUR SPECIAL GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> tax, business, entrepreneur, finance No More Than Complaints: A Candid Conversation with the Taxpayers' Ombudsperson (Part I) 7 7 2 2 More Than Complaints: A Candid Conversation with the Taxpayers' Ombudsperson (Part I) full 96b5fc25-2674-46da-8910-dd5c9b2d8190 https://share.transistor.fm/s/51eca437 What happens when the tax system doesn’t work the way it should?  Who advocates for taxpayers when service breaks down?

In this special two-part episode, I sit down with François Boileau, the Taxpayers' Ombudsperson for Canada, for a candid and wide-ranging conversation about fairness, service delays, vulnerable populations, and the future of tax administration in Canada.

Described by Mr. Boileau as one of the federal government’s “best-kept secrets,” the Office of the Taxpayers’ Ombudsperson plays a critical role in reviewing unresolved service complaints involving the Canada Revenue Agency.  But its mandate goes far beyond complaints alone.

Mr. Boileau explains how his office operates independently from the CRA, when and how taxpayers should bring forward complaints, and why fairness, equity, and access to benefits are at the heart of his work. The conversation also explores systemic issues within Canada’s tax system, including long processing delays, call-centre challenges, and barriers faced by vulnerable and non-filing populations.

In Part I of this episode we cover:
- [4:45] The Role of the Taxpayers' Ombudsperson
- [10:00] Mr. Boileau's career history and what drew him to this role
- [14:00] The two roles of CRA
- [19:45] A discussion of the 3 step complaints process

This episode is an essential listen for taxpayers, tax professionals, and anyone interested in how public institutions can (and should) serve Canadians better.


RESOURCES DISCUSSED ON THIS EPISODE:

MORE ABOUT OUR SPECIAL GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> What happens when the tax system doesn’t work the way it should?  Who advocates for taxpayers when service breaks down?

In this special two-part episode, I sit down with François Boileau, the Taxpayers' Ombudsperson for Canada, for a candid and wide-ranging conversation about fairness, service delays, vulnerable populations, and the future of tax administration in Canada.

Described by Mr. Boileau as one of the federal government’s “best-kept secrets,” the Office of the Taxpayers’ Ombudsperson plays a critical role in reviewing unresolved service complaints involving the Canada Revenue Agency.  But its mandate goes far beyond complaints alone.

Mr. Boileau explains how his office operates independently from the CRA, when and how taxpayers should bring forward complaints, and why fairness, equity, and access to benefits are at the heart of his work. The conversation also explores systemic issues within Canada’s tax system, including long processing delays, call-centre challenges, and barriers faced by vulnerable and non-filing populations.

In Part I of this episode we cover:
- [4:45] The Role of the Taxpayers' Ombudsperson
- [10:00] Mr. Boileau's career history and what drew him to this role
- [14:00] The two roles of CRA
- [19:45] A discussion of the 3 step complaints process

This episode is an essential listen for taxpayers, tax professionals, and anyone interested in how public institutions can (and should) serve Canadians better.


RESOURCES DISCUSSED ON THIS EPISODE:

MORE ABOUT OUR SPECIAL GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Tue, 24 Mar 2026 07:00:00 -0500 Amanda Doucette Amanda Doucette 1785 What happens when the tax system doesn’t work the way it should?  Who advocates for taxpayers when service breaks down?

In this special two-part episode, I sit down with François Boileau, the Taxpayers' Ombudsperson for Canada, for a candid and wide-ranging conversation about fairness, service delays, vulnerable populations, and the future of tax administration in Canada.

Described by Mr. Boileau as one of the federal government’s “best-kept secrets,” the Office of the Taxpayers’ Ombudsperson plays a critical role in reviewing unresolved service complaints involving the Canada Revenue Agency.  But its mandate goes far beyond complaints alone.

Mr. Boileau explains how his office operates independently from the CRA, when and how taxpayers should bring forward complaints, and why fairness, equity, and access to benefits are at the heart of his work. The conversation also explores systemic issues within Canada’s tax system, including long processing delays, call-centre challenges, and barriers faced by vulnerable and non-filing populations.

In Part I of this episode we cover:
- [4:45] The Role of the Taxpayers' Ombudsperson
- [10:00] Mr. Boileau's career history and what drew him to this role
- [14:00] The two roles of CRA
- [19:45] A discussion of the 3 step complaints process

This episode is an essential listen for taxpayers, tax professionals, and anyone interested in how public institutions can (and should) serve Canadians better.


RESOURCES DISCUSSED ON THIS EPISODE:

MORE ABOUT OUR SPECIAL GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> tax, business, entrepreneur, finance No Season Finale! Budget breakdown and tax tea 6 6 16 16 Season Finale! Budget breakdown and tax tea full a6688281-e002-49b7-b74c-138cd71f6a1b https://share.transistor.fm/s/d259092e Fall 2025 has been a busy season for tax developments!

In the FINAL EPISODE of Season 6 of The Tax Chick Podcast, I share my thoughts on:
- The latest Auditor General's Report on CRA call times and accuracy
- The new CRA - Voluntary Disclosure Program
- The 2025 federal budget

While the podcast will be taking a short break, The Tax Chick Podcast will return with brand new episodes in 2026!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Fall 2025 has been a busy season for tax developments!

In the FINAL EPISODE of Season 6 of The Tax Chick Podcast, I share my thoughts on:
- The latest Auditor General's Report on CRA call times and accuracy
- The new CRA - Voluntary Disclosure Program
- The 2025 federal budget

While the podcast will be taking a short break, The Tax Chick Podcast will return with brand new episodes in 2026!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Wed, 26 Nov 2025 07:00:00 -0600 Amanda Doucette Amanda Doucette 1023 Fall 2025 has been a busy season for tax developments!

In the FINAL EPISODE of Season 6 of The Tax Chick Podcast, I share my thoughts on:
- The latest Auditor General's Report on CRA call times and accuracy
- The new CRA - Voluntary Disclosure Program
- The 2025 federal budget

While the podcast will be taking a short break, The Tax Chick Podcast will return with brand new episodes in 2026!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Money Moves: How to Pay Yourself as a Business Owner 6 6 15 15 Money Moves: How to Pay Yourself as a Business Owner full bb355ce5-b362-4397-9fb3-3e8c1bd9b35a https://share.transistor.fm/s/00048c3b In this episode, I am joined by Financial Planner, Aravind, for a deep dive into one of the most common (and misunderstood) questions for incorporated business owners: Should I pay myself a salary or a dividend?

We unpack the myths, explore the tax mechanics, and walk through real-life planning considerations that go far beyond the coffee shop advice of “dividends are better.”  Spoiler alert: the answer is almost always “it depends"!  

Our conversation included:

  • The concept of tax integration and why it matters
  • Why CPP is not the villain it is sometimes made out to be
  • How your business lifecycle affects compensation strategy
  • What notional accounts are and why you should care
  • The impact of salary on disability insurance, mortgage applications, and more
  • Why dividends can be a powerful tool especially when cleaning up corporate tax accounts
  • The importance of annual planning with your accountant and financial planner

CONNECT WITH MY GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> In this episode, I am joined by Financial Planner, Aravind, for a deep dive into one of the most common (and misunderstood) questions for incorporated business owners: Should I pay myself a salary or a dividend?

We unpack the myths, explore the tax mechanics, and walk through real-life planning considerations that go far beyond the coffee shop advice of “dividends are better.”  Spoiler alert: the answer is almost always “it depends"!  

Our conversation included:

  • The concept of tax integration and why it matters
  • Why CPP is not the villain it is sometimes made out to be
  • How your business lifecycle affects compensation strategy
  • What notional accounts are and why you should care
  • The impact of salary on disability insurance, mortgage applications, and more
  • Why dividends can be a powerful tool especially when cleaning up corporate tax accounts
  • The importance of annual planning with your accountant and financial planner

CONNECT WITH MY GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 23 Oct 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 2123 In this episode, I am joined by Financial Planner, Aravind, for a deep dive into one of the most common (and misunderstood) questions for incorporated business owners: Should I pay myself a salary or a dividend?

We unpack the myths, explore the tax mechanics, and walk through real-life planning considerations that go far beyond the coffee shop advice of “dividends are better.”  Spoiler alert: the answer is almost always “it depends"!  

Our conversation included:

  • The concept of tax integration and why it matters
  • Why CPP is not the villain it is sometimes made out to be
  • How your business lifecycle affects compensation strategy
  • What notional accounts are and why you should care
  • The impact of salary on disability insurance, mortgage applications, and more
  • Why dividends can be a powerful tool especially when cleaning up corporate tax accounts
  • The importance of annual planning with your accountant and financial planner

CONNECT WITH MY GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Taxes After Death: What Every Executor Needs to Know (with special guest, Michelle Coleman) 6 6 14 14 Taxes After Death: What Every Executor Needs to Know (with special guest, Michelle Coleman) full 79e96e42-db19-4fff-aa39-22f837117303 https://share.transistor.fm/s/2878322e In this episode of The Tax Chick Podcast, I am joined by my friend and fellow professional, Michelle D. Coleman, to dig into a topic that every executor needs to understand: the tax implications that arise after someone passes away.

Michelle shares her expertise on the common questions and pitfalls that executors face when navigating taxes on death. Together, we walk through the fundamentals of estate administration, tax filings, and why early planning and communication are so important.

We cover:

  • The different tax returns that may need to be filed (terminal T1 return, estate T3 return, and more).
  • How the deemed disposition of assets works in Canada — and what it means for executors.
  • Why personal property (antiques, jewelry, collections, etc.) can create unexpected tax issues.
  • The importance of holdbacks, communication with beneficiaries, and managing expectations.
  • Special considerations for non-resident beneficiaries and why CRA clearances matter.
  • The often-overlooked rules around executor compensation and tax reporting.
  • Building a collaborative team of advisors (lawyer, accountant, investment professional) to help executors succeed.

If you have ever wondered what happens from a tax perspective after someone dies, or if you have been named an executor and feel unsure where to begin, this episode will give you a clear roadmap of what to expect and why it is so important to get the right advice early on.

MORE ABOUT OUR SPECIAL GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> In this episode of The Tax Chick Podcast, I am joined by my friend and fellow professional, Michelle D. Coleman, to dig into a topic that every executor needs to understand: the tax implications that arise after someone passes away.

Michelle shares her expertise on the common questions and pitfalls that executors face when navigating taxes on death. Together, we walk through the fundamentals of estate administration, tax filings, and why early planning and communication are so important.

We cover:

  • The different tax returns that may need to be filed (terminal T1 return, estate T3 return, and more).
  • How the deemed disposition of assets works in Canada — and what it means for executors.
  • Why personal property (antiques, jewelry, collections, etc.) can create unexpected tax issues.
  • The importance of holdbacks, communication with beneficiaries, and managing expectations.
  • Special considerations for non-resident beneficiaries and why CRA clearances matter.
  • The often-overlooked rules around executor compensation and tax reporting.
  • Building a collaborative team of advisors (lawyer, accountant, investment professional) to help executors succeed.

If you have ever wondered what happens from a tax perspective after someone dies, or if you have been named an executor and feel unsure where to begin, this episode will give you a clear roadmap of what to expect and why it is so important to get the right advice early on.

MORE ABOUT OUR SPECIAL GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Tue, 23 Sep 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 2022 In this episode of The Tax Chick Podcast, I am joined by my friend and fellow professional, Michelle D. Coleman, to dig into a topic that every executor needs to understand: the tax implications that arise after someone passes away.

Michelle shares her expertise on the common questions and pitfalls that executors face when navigating taxes on death. Together, we walk through the fundamentals of estate administration, tax filings, and why early planning and communication are so important.

We cover:

  • The different tax returns that may need to be filed (terminal T1 return, estate T3 return, and more).
  • How the deemed disposition of assets works in Canada — and what it means for executors.
  • Why personal property (antiques, jewelry, collections, etc.) can create unexpected tax issues.
  • The importance of holdbacks, communication with beneficiaries, and managing expectations.
  • Special considerations for non-resident beneficiaries and why CRA clearances matter.
  • The often-overlooked rules around executor compensation and tax reporting.
  • Building a collaborative team of advisors (lawyer, accountant, investment professional) to help executors succeed.

If you have ever wondered what happens from a tax perspective after someone dies, or if you have been named an executor and feel unsure where to begin, this episode will give you a clear roadmap of what to expect and why it is so important to get the right advice early on.

MORE ABOUT OUR SPECIAL GUEST:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Mini-Episode - Preview of the 2025-2026 STEP Saskatchewan Season! 6 6 13 13 Mini-Episode - Preview of the 2025-2026 STEP Saskatchewan Season! full 1597b9c7-a9b2-4921-ac4c-2d93fefb627f https://share.transistor.fm/s/5e5758e5 If you have been listening to my podcast for a while, you will know how much I value my involvement with STEP (the Society of Trust and Estate Practitioners). It is not just about the TEP designation.  What I love most are the connections, the learning, and the high-quality professional development that STEP provides. Honestly, it is some of the best CPD I get all year!

So, I am taking a quick detour from regular podcast programming to share with you the exciting lineup of events we have planned for our STEP Saskatchewan Branch!

Attendance at STEP events is open to non-members and members.  We are excited to launch the 2025-2026 Season for STEP Saskatchewan, and in this episode, I walk you through what is coming up this year!  All sessions are available in person or on demand - and the topics for this season have broad applicability outside of just Saskatchewan practitioners.  Here is the scoop:

  • September 15, 2025 - We are kicking off the season with a BIG celebration (STEP Saskatchewan is the first Chapter in Canada to achieve full branch status!)
  • October 8, 2025 – Tax Update:  Top Estate and Trust Issues (with special guest, Kenneth Keung, CPA, CA, CPA (CO, USA), CFP, MTAX, LLB, TEP, Vancouver: Doane Grant Thornton LLP)
  • November 5, 2025 – Death of a Property Owner - Planning with Interests in Real Estate (with special guests, Tannis Dawson CPA, CA, CFP, RRC, FEA, TEP, Winnipeg: TD Wealth and Krista Evanisky, JD, TEP, Saskatoon: Clarity Law)
  • April 8, 2026 – A Practitioner's Guide to the Trust Life Cycle: Tax and Best Practices (with special guest, Troy McEachren, BCL, LLB, TEP, Montreal: Miller Thomson LLP)
  • May 6, 2026 – US Cross Border Properties and Estates (with special guest, Mariska Loeppky, CPA, CA, CFP, TEP, Winnipeg: IG Private Wealth Management)

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> If you have been listening to my podcast for a while, you will know how much I value my involvement with STEP (the Society of Trust and Estate Practitioners). It is not just about the TEP designation.  What I love most are the connections, the learning, and the high-quality professional development that STEP provides. Honestly, it is some of the best CPD I get all year!

So, I am taking a quick detour from regular podcast programming to share with you the exciting lineup of events we have planned for our STEP Saskatchewan Branch!

Attendance at STEP events is open to non-members and members.  We are excited to launch the 2025-2026 Season for STEP Saskatchewan, and in this episode, I walk you through what is coming up this year!  All sessions are available in person or on demand - and the topics for this season have broad applicability outside of just Saskatchewan practitioners.  Here is the scoop:

  • September 15, 2025 - We are kicking off the season with a BIG celebration (STEP Saskatchewan is the first Chapter in Canada to achieve full branch status!)
  • October 8, 2025 – Tax Update:  Top Estate and Trust Issues (with special guest, Kenneth Keung, CPA, CA, CPA (CO, USA), CFP, MTAX, LLB, TEP, Vancouver: Doane Grant Thornton LLP)
  • November 5, 2025 – Death of a Property Owner - Planning with Interests in Real Estate (with special guests, Tannis Dawson CPA, CA, CFP, RRC, FEA, TEP, Winnipeg: TD Wealth and Krista Evanisky, JD, TEP, Saskatoon: Clarity Law)
  • April 8, 2026 – A Practitioner's Guide to the Trust Life Cycle: Tax and Best Practices (with special guest, Troy McEachren, BCL, LLB, TEP, Montreal: Miller Thomson LLP)
  • May 6, 2026 – US Cross Border Properties and Estates (with special guest, Mariska Loeppky, CPA, CA, CFP, TEP, Winnipeg: IG Private Wealth Management)

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Mon, 01 Sep 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 700 If you have been listening to my podcast for a while, you will know how much I value my involvement with STEP (the Society of Trust and Estate Practitioners). It is not just about the TEP designation.  What I love most are the connections, the learning, and the high-quality professional development that STEP provides. Honestly, it is some of the best CPD I get all year!

So, I am taking a quick detour from regular podcast programming to share with you the exciting lineup of events we have planned for our STEP Saskatchewan Branch!

Attendance at STEP events is open to non-members and members.  We are excited to launch the 2025-2026 Season for STEP Saskatchewan, and in this episode, I walk you through what is coming up this year!  All sessions are available in person or on demand - and the topics for this season have broad applicability outside of just Saskatchewan practitioners.  Here is the scoop:

  • September 15, 2025 - We are kicking off the season with a BIG celebration (STEP Saskatchewan is the first Chapter in Canada to achieve full branch status!)
  • October 8, 2025 – Tax Update:  Top Estate and Trust Issues (with special guest, Kenneth Keung, CPA, CA, CPA (CO, USA), CFP, MTAX, LLB, TEP, Vancouver: Doane Grant Thornton LLP)
  • November 5, 2025 – Death of a Property Owner - Planning with Interests in Real Estate (with special guests, Tannis Dawson CPA, CA, CFP, RRC, FEA, TEP, Winnipeg: TD Wealth and Krista Evanisky, JD, TEP, Saskatoon: Clarity Law)
  • April 8, 2026 – A Practitioner's Guide to the Trust Life Cycle: Tax and Best Practices (with special guest, Troy McEachren, BCL, LLB, TEP, Montreal: Miller Thomson LLP)
  • May 6, 2026 – US Cross Border Properties and Estates (with special guest, Mariska Loeppky, CPA, CA, CFP, TEP, Winnipeg: IG Private Wealth Management)

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No So... what is estate planning anyway? 6 6 12 12 So... what is estate planning anyway? full 208cdb16-d7c4-460b-a1c3-9b62b683c44b https://share.transistor.fm/s/486d1876 This mini-episode is inspired by one of the most common questions I get from clients and advisors alike: “What is estate planning?” We hear about it all the time, but what does it actually mean?

Spoiler alert: it’s more than just writing your Will!

I break down:
- The core documents that make up an estate plan
- The "investigation" stage
- Understanding the "little" tax and the "big" tax
- Death folders

Estate planning is about more than documents.  It is about communication, preparation, and making life easier for the people you leave behind. It is a team effort, and it is never too early to start!

For more information on this topic, check out Season 2, Episode 10 of the Podcast, "Estate Planning 101 with Christine van Cauwenberghe".

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> This mini-episode is inspired by one of the most common questions I get from clients and advisors alike: “What is estate planning?” We hear about it all the time, but what does it actually mean?

Spoiler alert: it’s more than just writing your Will!

I break down:
- The core documents that make up an estate plan
- The "investigation" stage
- Understanding the "little" tax and the "big" tax
- Death folders

Estate planning is about more than documents.  It is about communication, preparation, and making life easier for the people you leave behind. It is a team effort, and it is never too early to start!

For more information on this topic, check out Season 2, Episode 10 of the Podcast, "Estate Planning 101 with Christine van Cauwenberghe".

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Fri, 22 Aug 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 1119 This mini-episode is inspired by one of the most common questions I get from clients and advisors alike: “What is estate planning?” We hear about it all the time, but what does it actually mean?

Spoiler alert: it’s more than just writing your Will!

I break down:
- The core documents that make up an estate plan
- The "investigation" stage
- Understanding the "little" tax and the "big" tax
- Death folders

Estate planning is about more than documents.  It is about communication, preparation, and making life easier for the people you leave behind. It is a team effort, and it is never too early to start!

For more information on this topic, check out Season 2, Episode 10 of the Podcast, "Estate Planning 101 with Christine van Cauwenberghe".

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No 5 Years, 1 Microphone, Countless Lessons: The Tax Chick Podcast Turns Five!! 6 6 11 11 5 Years, 1 Microphone, Countless Lessons: The Tax Chick Podcast Turns Five!! full 99a23d0e-143a-4c84-8df1-ef2347dff468 https://share.transistor.fm/s/75b745cd Welcome to a very special celebration episode of The Tax Chick Podcast!

This week marks five whole years since I hit “publish” on my very first podcast episode. That means the podcast is officially in kindergarten!!!! 

In this milestone episode, I hit pause on tax talk and reflect on the journey of building the podcast from a simple blog during the early pandemic days, to a globally downloaded show with over 80 episodes and listeners in 75+ countries.

In this episode, I chat about:

  • How it all started: from blog posts to podcasting, and the fears I had to overcome
  • What’s changed over the last 5 years (both for the show and for me as a person and professional!)
  • Behind-the-scenes podcast realities
  • How the podcast unexpectedly reshaped my tax law practice and built a community
  • What’s next???  Solo episodes, tax-adjacent topics, and putting into the universe some wishes for potential new guests...

Whether you are a longtime listener or just joining The Tax Chick Podcast community, thank you for being part of the journey. This episode is for you.

🎶 Special thanks to DJ CWC (aka my husband Craig) for five years of original podcast music!  

]]> Welcome to a very special celebration episode of The Tax Chick Podcast!

This week marks five whole years since I hit “publish” on my very first podcast episode. That means the podcast is officially in kindergarten!!!! 

In this milestone episode, I hit pause on tax talk and reflect on the journey of building the podcast from a simple blog during the early pandemic days, to a globally downloaded show with over 80 episodes and listeners in 75+ countries.

In this episode, I chat about:

  • How it all started: from blog posts to podcasting, and the fears I had to overcome
  • What’s changed over the last 5 years (both for the show and for me as a person and professional!)
  • Behind-the-scenes podcast realities
  • How the podcast unexpectedly reshaped my tax law practice and built a community
  • What’s next???  Solo episodes, tax-adjacent topics, and putting into the universe some wishes for potential new guests...

Whether you are a longtime listener or just joining The Tax Chick Podcast community, thank you for being part of the journey. This episode is for you.

🎶 Special thanks to DJ CWC (aka my husband Craig) for five years of original podcast music!  

]]> Tue, 12 Aug 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 1037 Welcome to a very special celebration episode of The Tax Chick Podcast!

This week marks five whole years since I hit “publish” on my very first podcast episode. That means the podcast is officially in kindergarten!!!! 

In this milestone episode, I hit pause on tax talk and reflect on the journey of building the podcast from a simple blog during the early pandemic days, to a globally downloaded show with over 80 episodes and listeners in 75+ countries.

In this episode, I chat about:

  • How it all started: from blog posts to podcasting, and the fears I had to overcome
  • What’s changed over the last 5 years (both for the show and for me as a person and professional!)
  • Behind-the-scenes podcast realities
  • How the podcast unexpectedly reshaped my tax law practice and built a community
  • What’s next???  Solo episodes, tax-adjacent topics, and putting into the universe some wishes for potential new guests...

Whether you are a longtime listener or just joining The Tax Chick Podcast community, thank you for being part of the journey. This episode is for you.

🎶 Special thanks to DJ CWC (aka my husband Craig) for five years of original podcast music!  

]]> tax, business, entrepreneur, finance No Deductions & Delusions: A Tax Trivia Showdown! 6 6 10 10 Deductions & Delusions: A Tax Trivia Showdown! full 290ecdb3-cdc9-40c2-b395-70a1b29db542 https://share.transistor.fm/s/7c23d373 In this special (and slightly chaotic) summer edition of The Tax Chick Podcast, I am joined by summer students Frank, Blake and Tone, and articling student, Nick, for a candid and fun game of tax trivia!

From weird historical levies to modern-day deductions, it’s law school meets game show in the most entertaining way possible! 

WANT TO LEARN MORE ABOUT MY GUESTS?

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]]> In this special (and slightly chaotic) summer edition of The Tax Chick Podcast, I am joined by summer students Frank, Blake and Tone, and articling student, Nick, for a candid and fun game of tax trivia!

From weird historical levies to modern-day deductions, it’s law school meets game show in the most entertaining way possible! 

WANT TO LEARN MORE ABOUT MY GUESTS?

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 24 Jul 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 1081 In this special (and slightly chaotic) summer edition of The Tax Chick Podcast, I am joined by summer students Frank, Blake and Tone, and articling student, Nick, for a candid and fun game of tax trivia!

From weird historical levies to modern-day deductions, it’s law school meets game show in the most entertaining way possible! 

WANT TO LEARN MORE ABOUT MY GUESTS?

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Navigating Grief: Supporting Ourselves and Our Clients, with special guest, Dr. Brian Chartier 6 6 9 9 Navigating Grief: Supporting Ourselves and Our Clients, with special guest, Dr. Brian Chartier full 829fce0e-664e-4a8b-b0ba-697ed3e7e891 https://share.transistor.fm/s/5a1d44b9 As a tax lawyer, I spend a large portion of my day discussing difficult topics with clients - including discussions of death and dying.  Often, I am one of the first phone calls after the death of a loved one.  

In this episode, we delve into a deeply personal topic: the emotional impact of losing a long-time client.  My special guest, Dr. Brian Chartier, shares valuable insights and strategies for:

  • Letting go of the idea that there is a "right way" to respond in the situation, or that there is the "right thing" to say.
  • Navigating your own personal grief
  • Supporting grieving family members by helping to provide structure, and engaging in curious conversations
  • Maintaining emotional health in our professional lives

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> As a tax lawyer, I spend a large portion of my day discussing difficult topics with clients - including discussions of death and dying.  Often, I am one of the first phone calls after the death of a loved one.  

In this episode, we delve into a deeply personal topic: the emotional impact of losing a long-time client.  My special guest, Dr. Brian Chartier, shares valuable insights and strategies for:

  • Letting go of the idea that there is a "right way" to respond in the situation, or that there is the "right thing" to say.
  • Navigating your own personal grief
  • Supporting grieving family members by helping to provide structure, and engaging in curious conversations
  • Maintaining emotional health in our professional lives

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 26 Jun 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 1614 As a tax lawyer, I spend a large portion of my day discussing difficult topics with clients - including discussions of death and dying.  Often, I am one of the first phone calls after the death of a loved one.  

In this episode, we delve into a deeply personal topic: the emotional impact of losing a long-time client.  My special guest, Dr. Brian Chartier, shares valuable insights and strategies for:

  • Letting go of the idea that there is a "right way" to respond in the situation, or that there is the "right thing" to say.
  • Navigating your own personal grief
  • Supporting grieving family members by helping to provide structure, and engaging in curious conversations
  • Maintaining emotional health in our professional lives

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick - What you need to know about Powers of Attorney 6 6 8 8 Musings of a Tax Chick - What you need to know about Powers of Attorney full 1d301973-4682-42ac-9dc1-06497300c3c2 https://share.transistor.fm/s/65517e4f So you finished your estate planning... but do you have a Power of Attorney?
Check out this mini-episode for details on:
- What is a power of attorney? (2:13)
- When should you consider having more than one power of attorney? (4:00)
- How do you choose who to appoint as your power of attorney? (6:05)
- What are some tips/traps to consider? (7:18)

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> So you finished your estate planning... but do you have a Power of Attorney?
Check out this mini-episode for details on:
- What is a power of attorney? (2:13)
- When should you consider having more than one power of attorney? (4:00)
- How do you choose who to appoint as your power of attorney? (6:05)
- What are some tips/traps to consider? (7:18)

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Fri, 30 May 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 805 So you finished your estate planning... but do you have a Power of Attorney?
Check out this mini-episode for details on:
- What is a power of attorney? (2:13)
- When should you consider having more than one power of attorney? (4:00)
- How do you choose who to appoint as your power of attorney? (6:05)
- What are some tips/traps to consider? (7:18)

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick - Practical issues to consider on the death of the 1st spouse 6 6 7 7 Musings of a Tax Chick - Practical issues to consider on the death of the 1st spouse full d4d9ee4a-6dfc-46b4-a67d-8b44ded4e540 https://share.transistor.fm/s/ae7a9789 So often when completing our estate planning, we focus on what will happen when the last spouse dies.  But what about after the death of the first spouse?  In this episode, I outline some key planning considerations to keep in mind on the death of the first spouse, including: cash flow planning, access to credit, and practical considerations!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> So often when completing our estate planning, we focus on what will happen when the last spouse dies.  But what about after the death of the first spouse?  In this episode, I outline some key planning considerations to keep in mind on the death of the first spouse, including: cash flow planning, access to credit, and practical considerations!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Fri, 16 May 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 922 So often when completing our estate planning, we focus on what will happen when the last spouse dies.  But what about after the death of the first spouse?  In this episode, I outline some key planning considerations to keep in mind on the death of the first spouse, including: cash flow planning, access to credit, and practical considerations!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick - Non-arm's Length Transfers and s. 160 of the Income Tax Act 6 6 6 6 Musings of a Tax Chick - Non-arm's Length Transfers and s. 160 of the Income Tax Act full ae4862f1-028a-4218-866c-8bd1c9b2e9c5 https://share.transistor.fm/s/81092c4d Switching it up today and chatting about a very specific section of the Income Tax Act... s. 160.  This section can be used to assess one person for the tax debts of another person... it is typically applied between spouses and/or between parents and children.  However, some recent case law has resurrected a discussion on this topic, including who is really a "spouse" for the purposes of this section.

Update (05/07):  The episode did not fully load on some streaming platforms so I have reloaded the audio!   

RESOURCES DISCUSSED ON THIS EPISODE

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Switching it up today and chatting about a very specific section of the Income Tax Act... s. 160.  This section can be used to assess one person for the tax debts of another person... it is typically applied between spouses and/or between parents and children.  However, some recent case law has resurrected a discussion on this topic, including who is really a "spouse" for the purposes of this section.

Update (05/07):  The episode did not fully load on some streaming platforms so I have reloaded the audio!   

RESOURCES DISCUSSED ON THIS EPISODE

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Sat, 26 Apr 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 922 Switching it up today and chatting about a very specific section of the Income Tax Act... s. 160.  This section can be used to assess one person for the tax debts of another person... it is typically applied between spouses and/or between parents and children.  However, some recent case law has resurrected a discussion on this topic, including who is really a "spouse" for the purposes of this section.

Update (05/07):  The episode did not fully load on some streaming platforms so I have reloaded the audio!   

RESOURCES DISCUSSED ON THIS EPISODE

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick - Unpacking Canada Revenue Agency's Informal Disclosure Guidelines 6 6 5 5 Musings of a Tax Chick - Unpacking Canada Revenue Agency's Informal Disclosure Guidelines full 0f626920-8f2d-4739-9562-0b36aadc4841 https://share.transistor.fm/s/20a98f7a A recent LinkedIn post of mine sparked some great informal discussion about responding to CRA "proposal" letters.  So, it seemed like a great topic to chat about on the pod!

Do you know what information/documentation you can obtain through informal disclosure with CRA?  Check out this episode to learn more about:

  • What is a "proposal" letter?
  • What are the usual deadlines for response, and why would those deadlines be shortened?
  • What is a "large corporation" and what rules apply to them?
  • What CRA reports can you access through informal disclosure and why should you ask for them?

 RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> A recent LinkedIn post of mine sparked some great informal discussion about responding to CRA "proposal" letters.  So, it seemed like a great topic to chat about on the pod!

Do you know what information/documentation you can obtain through informal disclosure with CRA?  Check out this episode to learn more about:

  • What is a "proposal" letter?
  • What are the usual deadlines for response, and why would those deadlines be shortened?
  • What is a "large corporation" and what rules apply to them?
  • What CRA reports can you access through informal disclosure and why should you ask for them?

 RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Fri, 04 Apr 2025 13:21:08 -0500 Amanda Doucette Amanda Doucette 757 A recent LinkedIn post of mine sparked some great informal discussion about responding to CRA "proposal" letters.  So, it seemed like a great topic to chat about on the pod!

Do you know what information/documentation you can obtain through informal disclosure with CRA?  Check out this episode to learn more about:

  • What is a "proposal" letter?
  • What are the usual deadlines for response, and why would those deadlines be shortened?
  • What is a "large corporation" and what rules apply to them?
  • What CRA reports can you access through informal disclosure and why should you ask for them?

 RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Getting Paid to Post: The Tax Scoop for Influencers & Creators! (with special guest, Jami Monte!) 6 6 4 4 Getting Paid to Post: The Tax Scoop for Influencers & Creators! (with special guest, Jami Monte!) full 1c35506c-e0c0-447e-9e2f-83df616f6256 https://share.transistor.fm/s/91569b09 In this episode, we’re breaking down all the tax essentials for social media influencers, content creators, and anyone monetizing their online presence. From referral codes and affiliate links to brand collaborations and sponsored trips, we cover what counts as income and what you need to report. We’ll also talk about the tricky area of receiving gifts and how to handle barter transactions—yes, those fancy purses and free hotel stays could come with tax implications!

Join me and special guest, Jami Monte as we dive into:

  • What counts as income (7:05)
  • Barter transactions and gifts (9:55)
  • Self-assessed HST/GST on barter deals: (16:30)
  • Write-offs for content creators (18:04)
  • Potential solutions if you have messed up on your filings (26:55)
  • Invoicing (29:00)

Tune in to learn how to keep your finances in check while you grow your online empire!


CONNECT WITH JAMI:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> In this episode, we’re breaking down all the tax essentials for social media influencers, content creators, and anyone monetizing their online presence. From referral codes and affiliate links to brand collaborations and sponsored trips, we cover what counts as income and what you need to report. We’ll also talk about the tricky area of receiving gifts and how to handle barter transactions—yes, those fancy purses and free hotel stays could come with tax implications!

Join me and special guest, Jami Monte as we dive into:

  • What counts as income (7:05)
  • Barter transactions and gifts (9:55)
  • Self-assessed HST/GST on barter deals: (16:30)
  • Write-offs for content creators (18:04)
  • Potential solutions if you have messed up on your filings (26:55)
  • Invoicing (29:00)

Tune in to learn how to keep your finances in check while you grow your online empire!


CONNECT WITH JAMI:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 20 Mar 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 1990 In this episode, we’re breaking down all the tax essentials for social media influencers, content creators, and anyone monetizing their online presence. From referral codes and affiliate links to brand collaborations and sponsored trips, we cover what counts as income and what you need to report. We’ll also talk about the tricky area of receiving gifts and how to handle barter transactions—yes, those fancy purses and free hotel stays could come with tax implications!

Join me and special guest, Jami Monte as we dive into:

  • What counts as income (7:05)
  • Barter transactions and gifts (9:55)
  • Self-assessed HST/GST on barter deals: (16:30)
  • Write-offs for content creators (18:04)
  • Potential solutions if you have messed up on your filings (26:55)
  • Invoicing (29:00)

Tune in to learn how to keep your finances in check while you grow your online empire!


CONNECT WITH JAMI:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Season 6 Premiere: What's Coming Next! 6 6 1 1 Season 6 Premiere: What's Coming Next! full b19e41b0-e88e-4027-ad80-fd1b231b8aa1 https://share.transistor.fm/s/5d1706e1 Season 6 is here!!!!   Check out this short episode to learn a little bit about what you can expect on the pod this season and also for a refresher on some great episodes from last season!  I also include a quick update on what I have been up to the last few months.

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Season 6 is here!!!!   Check out this short episode to learn a little bit about what you can expect on the pod this season and also for a refresher on some great episodes from last season!  I also include a quick update on what I have been up to the last few months.

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 20 Mar 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 903 Season 6 is here!!!!   Check out this short episode to learn a little bit about what you can expect on the pod this season and also for a refresher on some great episodes from last season!  I also include a quick update on what I have been up to the last few months.

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Taxes Filed? Now What? Your Next Steps After Hitting Submit! 6 6 3 3 Taxes Filed? Now What? Your Next Steps After Hitting Submit! full 41628f1f-22e4-4222-a352-b87357516997 https://share.transistor.fm/s/03c2e133 You’ve filed your taxes—great job! But the work isn’t quite over yet. In this episode, I'm walking you through the essential steps you need to take after submitting your taxes. From saving and reviewing your Notice of Assessment to paying any taxes owed, and some tips on how to update your financial records and prepare for next year, this episode has what you need to stay ahead of the game!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> You’ve filed your taxes—great job! But the work isn’t quite over yet. In this episode, I'm walking you through the essential steps you need to take after submitting your taxes. From saving and reviewing your Notice of Assessment to paying any taxes owed, and some tips on how to update your financial records and prepare for next year, this episode has what you need to stay ahead of the game!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 20 Mar 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 631 You’ve filed your taxes—great job! But the work isn’t quite over yet. In this episode, I'm walking you through the essential steps you need to take after submitting your taxes. From saving and reviewing your Notice of Assessment to paying any taxes owed, and some tips on how to update your financial records and prepare for next year, this episode has what you need to stay ahead of the game!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Tax Time Made Fun: Your Ultimate Prep Guide for the Season! 6 6 2 2 Tax Time Made Fun: Your Ultimate Prep Guide for the Season! full d92c327a-7538-4886-a1ab-bc7e5e4a250a https://share.transistor.fm/s/7caab88b In this episode, I am diving into the must-have documentation you need to gather before tackling tax season. Whether you’re filing on your own or working with a professional, this episode will help you organize everything you need to make tax time a breeze. Tune in for tips on what documents to collect, how to stay organized, and avoid common mistakes that could cost you later!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> In this episode, I am diving into the must-have documentation you need to gather before tackling tax season. Whether you’re filing on your own or working with a professional, this episode will help you organize everything you need to make tax time a breeze. Tune in for tips on what documents to collect, how to stay organized, and avoid common mistakes that could cost you later!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 20 Mar 2025 07:00:00 -0500 Amanda Doucette Amanda Doucette 793 In this episode, I am diving into the must-have documentation you need to gather before tackling tax season. Whether you’re filing on your own or working with a professional, this episode will help you organize everything you need to make tax time a breeze. Tune in for tips on what documents to collect, how to stay organized, and avoid common mistakes that could cost you later!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick: Top 10 Tax Tidbits for 2024! 5 5 18 18 Musings of a Tax Chick: Top 10 Tax Tidbits for 2024! full 52fbdca4-74a0-432f-b5db-ec19928ca621 https://share.transistor.fm/s/3e2ce85b My Christmas gift to you this year is an episode full of tax tidbits that you can share at your holiday party - check out this episode for my rundown of the tax issues that made the news for me in 2024:

10. The Taxpayer's Ombudsman Report
9.  Auditor General's Report - the CEBA Program
8.  CRA New Audit Powers
7.  Digital Services Tax
6.  Where do we stand on Alternative Minimum Tax?
5.  The GST/HST Holiday
4.  Audits on COVID benefits
3.  Bare trusts...
2.  Capital Gains...
1.  The Fall Economic Statement - stay tuned for December 16th!

Merry Christmas and Happy New Year!  I will be back with Season 6 of The Tax Chick Podcast in March 2025!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> My Christmas gift to you this year is an episode full of tax tidbits that you can share at your holiday party - check out this episode for my rundown of the tax issues that made the news for me in 2024:

10. The Taxpayer's Ombudsman Report
9.  Auditor General's Report - the CEBA Program
8.  CRA New Audit Powers
7.  Digital Services Tax
6.  Where do we stand on Alternative Minimum Tax?
5.  The GST/HST Holiday
4.  Audits on COVID benefits
3.  Bare trusts...
2.  Capital Gains...
1.  The Fall Economic Statement - stay tuned for December 16th!

Merry Christmas and Happy New Year!  I will be back with Season 6 of The Tax Chick Podcast in March 2025!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Wed, 11 Dec 2024 19:32:49 -0600 Amanda Doucette Amanda Doucette 1185 My Christmas gift to you this year is an episode full of tax tidbits that you can share at your holiday party - check out this episode for my rundown of the tax issues that made the news for me in 2024:

10. The Taxpayer's Ombudsman Report
9.  Auditor General's Report - the CEBA Program
8.  CRA New Audit Powers
7.  Digital Services Tax
6.  Where do we stand on Alternative Minimum Tax?
5.  The GST/HST Holiday
4.  Audits on COVID benefits
3.  Bare trusts...
2.  Capital Gains...
1.  The Fall Economic Statement - stay tuned for December 16th!

Merry Christmas and Happy New Year!  I will be back with Season 6 of The Tax Chick Podcast in March 2025!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No You can be tax savvy too...Essential insights every business owner should know 5 5 17 17 You can be tax savvy too...Essential insights every business owner should know full bf3b825a-b321-413b-8cbb-453570a91ba9 https://share.transistor.fm/s/869bf6ff In this episode, I chat with special guest, Corey DeJean, owner of CJDJ Accounting Services and current Chair of the Association of Tax and Accounting Professionals ("ATAP").  Corey and I get to hang out in January every year at the ATAP Refresh Conference in Toronto - we have had so many great conversations about collaboration, sharing resources and the importance of educating our clients about tax.  It was about time that I got her on the pod!

Corey and I dive deep into the crucial tax information every business owner should know to stay compliant, maximize deductions, and optimize their financial strategies.  Whether you’re a startup founder or a seasoned entrepreneur, understanding taxes can make a significant difference in your bottom line!

Here is a sneak peek of what we chat about:

1. What is ATAP and how can it help you?
2. Your business is NOT you!
3. There is a huge difference between revenue and the $ in the bank.
4. Not everything is deductible.
5. There is no "one size fits all" strategy for compensation.

RESOURCES DISCUSSED IN THIS EPISODE:

CONNECT WITH COREY:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> In this episode, I chat with special guest, Corey DeJean, owner of CJDJ Accounting Services and current Chair of the Association of Tax and Accounting Professionals ("ATAP").  Corey and I get to hang out in January every year at the ATAP Refresh Conference in Toronto - we have had so many great conversations about collaboration, sharing resources and the importance of educating our clients about tax.  It was about time that I got her on the pod!

Corey and I dive deep into the crucial tax information every business owner should know to stay compliant, maximize deductions, and optimize their financial strategies.  Whether you’re a startup founder or a seasoned entrepreneur, understanding taxes can make a significant difference in your bottom line!

Here is a sneak peek of what we chat about:

1. What is ATAP and how can it help you?
2. Your business is NOT you!
3. There is a huge difference between revenue and the $ in the bank.
4. Not everything is deductible.
5. There is no "one size fits all" strategy for compensation.

RESOURCES DISCUSSED IN THIS EPISODE:

CONNECT WITH COREY:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 17 Oct 2024 07:05:00 -0500 Amanda Doucette Amanda Doucette 1869 In this episode, I chat with special guest, Corey DeJean, owner of CJDJ Accounting Services and current Chair of the Association of Tax and Accounting Professionals ("ATAP").  Corey and I get to hang out in January every year at the ATAP Refresh Conference in Toronto - we have had so many great conversations about collaboration, sharing resources and the importance of educating our clients about tax.  It was about time that I got her on the pod!

Corey and I dive deep into the crucial tax information every business owner should know to stay compliant, maximize deductions, and optimize their financial strategies.  Whether you’re a startup founder or a seasoned entrepreneur, understanding taxes can make a significant difference in your bottom line!

Here is a sneak peek of what we chat about:

1. What is ATAP and how can it help you?
2. Your business is NOT you!
3. There is a huge difference between revenue and the $ in the bank.
4. Not everything is deductible.
5. There is no "one size fits all" strategy for compensation.

RESOURCES DISCUSSED IN THIS EPISODE:

CONNECT WITH COREY:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick: Falling on bended knee... what you need to know about the Voluntary Disclosure program 5 5 16 16 Musings of a Tax Chick: Falling on bended knee... what you need to know about the Voluntary Disclosure program full 1f30fa09-b2f0-4f5a-a54f-cc1443fd8a34 https://share.transistor.fm/s/c1e84ded Are you behind in your tax filings?  I mean REALLY behind... like more than the last year or two?
Did you make a mistake in a previous filing? 

Canada Revenue Agency's Voluntary Disclosure Program might just be for you!  I have had a couple calls this past week about the "VDP" program, and I thought this might be a great time to dispel some myths.

In this episode:

1. I discuss what the program is, and when you would choose to apply.
2. Provide some insight into the criteria for a successful application
3. Talk next steps.

It is so important to remember that VDP does not get you out of paying the tax - in fact, you have to prepay the tax up front-when you make the application!  It just offers amnesty from penalties.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Are you behind in your tax filings?  I mean REALLY behind... like more than the last year or two?
Did you make a mistake in a previous filing? 

Canada Revenue Agency's Voluntary Disclosure Program might just be for you!  I have had a couple calls this past week about the "VDP" program, and I thought this might be a great time to dispel some myths.

In this episode:

1. I discuss what the program is, and when you would choose to apply.
2. Provide some insight into the criteria for a successful application
3. Talk next steps.

It is so important to remember that VDP does not get you out of paying the tax - in fact, you have to prepay the tax up front-when you make the application!  It just offers amnesty from penalties.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Tue, 01 Oct 2024 07:00:00 -0500 Amanda Doucette Amanda Doucette 986 Are you behind in your tax filings?  I mean REALLY behind... like more than the last year or two?
Did you make a mistake in a previous filing? 

Canada Revenue Agency's Voluntary Disclosure Program might just be for you!  I have had a couple calls this past week about the "VDP" program, and I thought this might be a great time to dispel some myths.

In this episode:

1. I discuss what the program is, and when you would choose to apply.
2. Provide some insight into the criteria for a successful application
3. Talk next steps.

It is so important to remember that VDP does not get you out of paying the tax - in fact, you have to prepay the tax up front-when you make the application!  It just offers amnesty from penalties.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Summer at the Firm: A Behind-the-Scenes Look at being a Summer Student, with special guests Blake, Frank and Nick! 5 5 15 15 Summer at the Firm: A Behind-the-Scenes Look at being a Summer Student, with special guests Blake, Frank and Nick! full 70141d51-86b1-4b8f-bdd0-999a8946a3bd https://share.transistor.fm/s/1af7600d I decided to switch things up a bit for this episode, and invite on 3 people that I have been hanging out with all summer this year - our firm summer students, Blake, Frank and Nick!

Don't worry - the word "tax" does get brought up at some point in this episode :)  But the main purpose of this episode was to share a little bit about what it is like to work in a law firm (Hint: it is not like Suits!) 

In this episode, we cover:

1. Why each of my guests chose to work at a firm over the summer instead of a different type of summer job during law school? (9:50)
2. One thing that surprised them about working at a firm? (12:35)
3. One positive thing about the summer/one negative thing (17:09)
4. Advice they would give to students who are considering applying to a firm for a summer position.

This episode is great for anyone in law school and wondering about the firm experience, and also great for lawyers who are working with law students - I am really grateful to Blake, Frank and Nick for their honesty in sharing the student experience!  It was so much fun working with them this summer and I know they all have very bright futures ahead of them!

CONNECT WITH NICK, FRANK AND BLAKE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> I decided to switch things up a bit for this episode, and invite on 3 people that I have been hanging out with all summer this year - our firm summer students, Blake, Frank and Nick!

Don't worry - the word "tax" does get brought up at some point in this episode :)  But the main purpose of this episode was to share a little bit about what it is like to work in a law firm (Hint: it is not like Suits!) 

In this episode, we cover:

1. Why each of my guests chose to work at a firm over the summer instead of a different type of summer job during law school? (9:50)
2. One thing that surprised them about working at a firm? (12:35)
3. One positive thing about the summer/one negative thing (17:09)
4. Advice they would give to students who are considering applying to a firm for a summer position.

This episode is great for anyone in law school and wondering about the firm experience, and also great for lawyers who are working with law students - I am really grateful to Blake, Frank and Nick for their honesty in sharing the student experience!  It was so much fun working with them this summer and I know they all have very bright futures ahead of them!

CONNECT WITH NICK, FRANK AND BLAKE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Wed, 04 Sep 2024 07:00:00 -0500 Amanda Doucette Amanda Doucette 1601 I decided to switch things up a bit for this episode, and invite on 3 people that I have been hanging out with all summer this year - our firm summer students, Blake, Frank and Nick!

Don't worry - the word "tax" does get brought up at some point in this episode :)  But the main purpose of this episode was to share a little bit about what it is like to work in a law firm (Hint: it is not like Suits!) 

In this episode, we cover:

1. Why each of my guests chose to work at a firm over the summer instead of a different type of summer job during law school? (9:50)
2. One thing that surprised them about working at a firm? (12:35)
3. One positive thing about the summer/one negative thing (17:09)
4. Advice they would give to students who are considering applying to a firm for a summer position.

This episode is great for anyone in law school and wondering about the firm experience, and also great for lawyers who are working with law students - I am really grateful to Blake, Frank and Nick for their honesty in sharing the student experience!  It was so much fun working with them this summer and I know they all have very bright futures ahead of them!

CONNECT WITH NICK, FRANK AND BLAKE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick: "Discovering" Discoveries... 5 5 14 14 Musings of a Tax Chick: "Discovering" Discoveries... full c506b84c-0205-4772-b8a7-de4bdd392792 https://share.transistor.fm/s/67d10f63 Check out this episode for information on upcoming conferences where you can find me as a guest speaker, along with some information on the Tax Court of Canada, including the role of "discoveries" in a tax hearing.

RESOURCES DISCUSSED ON THIS EPISODE

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Check out this episode for information on upcoming conferences where you can find me as a guest speaker, along with some information on the Tax Court of Canada, including the role of "discoveries" in a tax hearing.

RESOURCES DISCUSSED ON THIS EPISODE

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Sun, 11 Aug 2024 09:00:00 -0500 Amanda Doucette Amanda Doucette 891 Check out this episode for information on upcoming conferences where you can find me as a guest speaker, along with some information on the Tax Court of Canada, including the role of "discoveries" in a tax hearing.

RESOURCES DISCUSSED ON THIS EPISODE

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> tax, business, entrepreneur, finance No Musings of a Tax Chick: Summer Sweets and Legal Treats - Navigating GAAR and Baking Bliss 5 5 13 13 Musings of a Tax Chick: Summer Sweets and Legal Treats - Navigating GAAR and Baking Bliss full ba0db66d-5aef-4ab3-800f-5a941201a0cf https://share.transistor.fm/s/3d56490d Have you heard of the "GAAR"???  GAAR stands for the "general anti-avoidance rule" and it gives the federal government broad powers to prevent transactions they deem to be against the purposes of Canadian tax law.

Why do we care about GAAR?  Well, it should be a factor to consider each and every time that you engage in tax planning, as if it applies, it can "undo" all of the tax benefits of a particular transaction.  The Federal Government also just pushed through amendments to the GAAR rules which broaden the applicability of GAAR, and also impose a penalty.

So in this episode, I break down: "old" GAAR, "new" GAAR, and a recent case where GAAR was considered (DAC Investments).  I also reminisce about my days as a clerk at the Court of Appeal, and give a sneak peek of new episodes coming up in the next few months!

RESOURCES DISCUSSED ON THIS EPISODE

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Have you heard of the "GAAR"???  GAAR stands for the "general anti-avoidance rule" and it gives the federal government broad powers to prevent transactions they deem to be against the purposes of Canadian tax law.

Why do we care about GAAR?  Well, it should be a factor to consider each and every time that you engage in tax planning, as if it applies, it can "undo" all of the tax benefits of a particular transaction.  The Federal Government also just pushed through amendments to the GAAR rules which broaden the applicability of GAAR, and also impose a penalty.

So in this episode, I break down: "old" GAAR, "new" GAAR, and a recent case where GAAR was considered (DAC Investments).  I also reminisce about my days as a clerk at the Court of Appeal, and give a sneak peek of new episodes coming up in the next few months!

RESOURCES DISCUSSED ON THIS EPISODE

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Sun, 28 Jul 2024 18:00:00 -0500 Amanda Doucette Amanda Doucette 1154 Have you heard of the "GAAR"???  GAAR stands for the "general anti-avoidance rule" and it gives the federal government broad powers to prevent transactions they deem to be against the purposes of Canadian tax law.

Why do we care about GAAR?  Well, it should be a factor to consider each and every time that you engage in tax planning, as if it applies, it can "undo" all of the tax benefits of a particular transaction.  The Federal Government also just pushed through amendments to the GAAR rules which broaden the applicability of GAAR, and also impose a penalty.

So in this episode, I break down: "old" GAAR, "new" GAAR, and a recent case where GAAR was considered (DAC Investments).  I also reminisce about my days as a clerk at the Court of Appeal, and give a sneak peek of new episodes coming up in the next few months!

RESOURCES DISCUSSED ON THIS EPISODE

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> tax, business, entrepreneur, finance No Draft Capital Gains Legislation... what do you need to know? 5 5 12 12 Draft Capital Gains Legislation... what do you need to know? full b4ea38ca-090e-495e-b557-3db88e8c8111 https://share.transistor.fm/s/75c31a5a What happens when two tax fanatics who are passionate about tax education get together to talk about draft tax legislation??? Check out this episode to find out!

So excited to have my friend, and fellow tax enthusiast, Henry Shew, on the podcast today to chat about the draft legislation that the Federal Government released on June 10, 2024 relating to the changes to the capital gains rules in Canada.  There are some amazing resources available which "go into the weeds" on the details of the legislation - but Henry and I wanted to go big picture for this episode.  We wanted to provide some background on how tax legislation is passed, and highlight some things you need to be aware of - here is the scoop on what we discuss:

(1) What is a "Notice of Ways and Means Motion"? (6:08)
(2) What is in the draft legislation? (10:08)
(3) What is missing from the draft legislation? (22:04)

We talk about:  

  • Capital gains reserve
  • The expansion of the $250K exemption to GREs and Qualified Disability Trusts 
  • Applicability to alter ego trusts
  • What happens if a trust or a partnership has a gain mid-way through the year, but does not allocate the gain until later in the year?
  • The "averaging" rules, and the impact on the capital dividend account
  • Changes (positive) to allowable business investment losses
  • Some of the things that were missing...
    • why isn't this indexed to inflation?
    • There is no carry-forward of the $250K annual threshold
    • Has the government forgotten about integration?
    • AMT - lack of interaction between the changes to AMT and the new legislation

Word on the street is that supplementary draft legislation will be released by end of July which hopefully fills in some of the gaps... we will see!

RESOURCES DISCUSSED ON THIS EPISODE

MORE FROM HENRY

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> What happens when two tax fanatics who are passionate about tax education get together to talk about draft tax legislation??? Check out this episode to find out!

So excited to have my friend, and fellow tax enthusiast, Henry Shew, on the podcast today to chat about the draft legislation that the Federal Government released on June 10, 2024 relating to the changes to the capital gains rules in Canada.  There are some amazing resources available which "go into the weeds" on the details of the legislation - but Henry and I wanted to go big picture for this episode.  We wanted to provide some background on how tax legislation is passed, and highlight some things you need to be aware of - here is the scoop on what we discuss:

(1) What is a "Notice of Ways and Means Motion"? (6:08)
(2) What is in the draft legislation? (10:08)
(3) What is missing from the draft legislation? (22:04)

We talk about:  

  • Capital gains reserve
  • The expansion of the $250K exemption to GREs and Qualified Disability Trusts 
  • Applicability to alter ego trusts
  • What happens if a trust or a partnership has a gain mid-way through the year, but does not allocate the gain until later in the year?
  • The "averaging" rules, and the impact on the capital dividend account
  • Changes (positive) to allowable business investment losses
  • Some of the things that were missing...
    • why isn't this indexed to inflation?
    • There is no carry-forward of the $250K annual threshold
    • Has the government forgotten about integration?
    • AMT - lack of interaction between the changes to AMT and the new legislation

Word on the street is that supplementary draft legislation will be released by end of July which hopefully fills in some of the gaps... we will see!

RESOURCES DISCUSSED ON THIS EPISODE

MORE FROM HENRY

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Fri, 21 Jun 2024 07:00:00 -0500 Amanda Doucette Amanda Doucette 2181 What happens when two tax fanatics who are passionate about tax education get together to talk about draft tax legislation??? Check out this episode to find out!

So excited to have my friend, and fellow tax enthusiast, Henry Shew, on the podcast today to chat about the draft legislation that the Federal Government released on June 10, 2024 relating to the changes to the capital gains rules in Canada.  There are some amazing resources available which "go into the weeds" on the details of the legislation - but Henry and I wanted to go big picture for this episode.  We wanted to provide some background on how tax legislation is passed, and highlight some things you need to be aware of - here is the scoop on what we discuss:

(1) What is a "Notice of Ways and Means Motion"? (6:08)
(2) What is in the draft legislation? (10:08)
(3) What is missing from the draft legislation? (22:04)

We talk about:  

  • Capital gains reserve
  • The expansion of the $250K exemption to GREs and Qualified Disability Trusts 
  • Applicability to alter ego trusts
  • What happens if a trust or a partnership has a gain mid-way through the year, but does not allocate the gain until later in the year?
  • The "averaging" rules, and the impact on the capital dividend account
  • Changes (positive) to allowable business investment losses
  • Some of the things that were missing...
    • why isn't this indexed to inflation?
    • There is no carry-forward of the $250K annual threshold
    • Has the government forgotten about integration?
    • AMT - lack of interaction between the changes to AMT and the new legislation

Word on the street is that supplementary draft legislation will be released by end of July which hopefully fills in some of the gaps... we will see!

RESOURCES DISCUSSED ON THIS EPISODE

MORE FROM HENRY

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> tax, business, entrepreneur, finance No Musings of a Tax Chick... Toronto, STEP Canada, and new legislation... 5 5 11 11 Musings of a Tax Chick... Toronto, STEP Canada, and new legislation... full d1bfab44-159d-4589-a0f9-5cc1dc2339b4 https://share.transistor.fm/s/c1d6410e Just got home from a fantastic week in Toronto at the STEP National Conference!  In this mini-episode, I provide an overview of what I learned, give a sneak peek at upcoming episodes, and share my favorite restaurant spots in Toronto.

Oh, and did you hear that the Federal Government plans to release draft legislation on the capital gains inclusion rate changes on Monday, June 10th???... stay tuned!

THINGS I DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Just got home from a fantastic week in Toronto at the STEP National Conference!  In this mini-episode, I provide an overview of what I learned, give a sneak peek at upcoming episodes, and share my favorite restaurant spots in Toronto.

Oh, and did you hear that the Federal Government plans to release draft legislation on the capital gains inclusion rate changes on Monday, June 10th???... stay tuned!

THINGS I DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Sat, 08 Jun 2024 22:34:06 -0500 Amanda Doucette Amanda Doucette 1086 Just got home from a fantastic week in Toronto at the STEP National Conference!  In this mini-episode, I provide an overview of what I learned, give a sneak peek at upcoming episodes, and share my favorite restaurant spots in Toronto.

Oh, and did you hear that the Federal Government plans to release draft legislation on the capital gains inclusion rate changes on Monday, June 10th???... stay tuned!

THINGS I DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Guiding Generosity: Navigating Donor-Advised Funds 5 5 10 10 Guiding Generosity: Navigating Donor-Advised Funds full 73b68551-2200-4ece-aba1-f597da1b3c1d https://share.transistor.fm/s/f9bdb04d I want to let you in on a little secret... you do not have to be a billionaire in order to be philanthropic.  There are many ways to give to charity, including gifts of your time!  But in today's episode, I am chatting with my guests about a specific vehicle for charitable giving - the "donor-advised fund" or "DAF".  It is a really neat alternative to setting up a private foundation, and can open up options for families to work together to plan their philanthropy for years to come!  (And yes, there are also some tax benefits!)

In this episode, I am chatting with Jen Pederson and Joanne McGrath of the Saskatoon Community Foundation all about DAFs, including a discussion of the following topics:

  • What is a donor-advised fund? (5:15)
  • Endowment funds (13:13)
  • How are DAFs taxed? (20:50)
  • Are there thresholds for giving? (24:25)
  • Quick "hot tips" about DAFs - including how to incorporate it into your estate plan (26:50)

CONNECT WITH JEN AND JOANNE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> I want to let you in on a little secret... you do not have to be a billionaire in order to be philanthropic.  There are many ways to give to charity, including gifts of your time!  But in today's episode, I am chatting with my guests about a specific vehicle for charitable giving - the "donor-advised fund" or "DAF".  It is a really neat alternative to setting up a private foundation, and can open up options for families to work together to plan their philanthropy for years to come!  (And yes, there are also some tax benefits!)

In this episode, I am chatting with Jen Pederson and Joanne McGrath of the Saskatoon Community Foundation all about DAFs, including a discussion of the following topics:

  • What is a donor-advised fund? (5:15)
  • Endowment funds (13:13)
  • How are DAFs taxed? (20:50)
  • Are there thresholds for giving? (24:25)
  • Quick "hot tips" about DAFs - including how to incorporate it into your estate plan (26:50)

CONNECT WITH JEN AND JOANNE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Wed, 22 May 2024 06:00:00 -0500 Amanda Doucette Amanda Doucette 1971 I want to let you in on a little secret... you do not have to be a billionaire in order to be philanthropic.  There are many ways to give to charity, including gifts of your time!  But in today's episode, I am chatting with my guests about a specific vehicle for charitable giving - the "donor-advised fund" or "DAF".  It is a really neat alternative to setting up a private foundation, and can open up options for families to work together to plan their philanthropy for years to come!  (And yes, there are also some tax benefits!)

In this episode, I am chatting with Jen Pederson and Joanne McGrath of the Saskatoon Community Foundation all about DAFs, including a discussion of the following topics:

  • What is a donor-advised fund? (5:15)
  • Endowment funds (13:13)
  • How are DAFs taxed? (20:50)
  • Are there thresholds for giving? (24:25)
  • Quick "hot tips" about DAFs - including how to incorporate it into your estate plan (26:50)

CONNECT WITH JEN AND JOANNE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick... Boardroom Dilemmas: Navigating Director Liability 5 5 9 9 Musings of a Tax Chick... Boardroom Dilemmas: Navigating Director Liability full 0cf9e322-017f-47f7-ba26-daa47b408fd4 https://share.transistor.fm/s/bcd58340 Huge thank you to my listeners as we have now surpassed 30K downloads, and have managed to stay in the top 100 business podcasts on Apple Podcasts over the past 5 - 6 weeks!

In this episode:

  • I provide an update on what has happened since the Federal Budget - turns out we actually still have zero clarity on the capital gains inclusion rate changes.  Check out the submission of the Joint Committee of CPA/CBA on this issue:  https://cpa.cpacanada.ca/en/the-cpa-profession/about-cpa-canada/volunteer-with-cpa-canada/volunteer-committees/tax-committees/59 
  • Audit activity is hopping!  I share what I have been seeing over the past few weeks
  • Drake versus Kendrick Lamar... and my supper plans for my upcoming trip to Toronto.  Has anyone else had the Cheeseburger Spring Rolls at Lee Restaurant??? 
  • Director liability - the importance of tracking (in writing) the beginning and ending of a director or officer role, and what liabilities can arise (both tax and non-tax).  Hint:  hiring someone else to get things done is not sufficient!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Huge thank you to my listeners as we have now surpassed 30K downloads, and have managed to stay in the top 100 business podcasts on Apple Podcasts over the past 5 - 6 weeks!

In this episode:

  • I provide an update on what has happened since the Federal Budget - turns out we actually still have zero clarity on the capital gains inclusion rate changes.  Check out the submission of the Joint Committee of CPA/CBA on this issue:  https://cpa.cpacanada.ca/en/the-cpa-profession/about-cpa-canada/volunteer-with-cpa-canada/volunteer-committees/tax-committees/59 
  • Audit activity is hopping!  I share what I have been seeing over the past few weeks
  • Drake versus Kendrick Lamar... and my supper plans for my upcoming trip to Toronto.  Has anyone else had the Cheeseburger Spring Rolls at Lee Restaurant??? 
  • Director liability - the importance of tracking (in writing) the beginning and ending of a director or officer role, and what liabilities can arise (both tax and non-tax).  Hint:  hiring someone else to get things done is not sufficient!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Wed, 15 May 2024 06:00:00 -0500 Amanda Doucette Amanda Doucette 937 Huge thank you to my listeners as we have now surpassed 30K downloads, and have managed to stay in the top 100 business podcasts on Apple Podcasts over the past 5 - 6 weeks!

In this episode:

  • I provide an update on what has happened since the Federal Budget - turns out we actually still have zero clarity on the capital gains inclusion rate changes.  Check out the submission of the Joint Committee of CPA/CBA on this issue:  https://cpa.cpacanada.ca/en/the-cpa-profession/about-cpa-canada/volunteer-with-cpa-canada/volunteer-committees/tax-committees/59 
  • Audit activity is hopping!  I share what I have been seeing over the past few weeks
  • Drake versus Kendrick Lamar... and my supper plans for my upcoming trip to Toronto.  Has anyone else had the Cheeseburger Spring Rolls at Lee Restaurant??? 
  • Director liability - the importance of tracking (in writing) the beginning and ending of a director or officer role, and what liabilities can arise (both tax and non-tax).  Hint:  hiring someone else to get things done is not sufficient!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick... so I filed my tax return, now what?? 5 5 8 8 Musings of a Tax Chick... so I filed my tax return, now what?? full 1bce2ba3-ea31-4704-a429-a88fde707ab9 https://share.transistor.fm/s/0d3b46d0 Anyone else feel like filing your tax return can be a bit anti-climactic?  In today's mini-episode, I am sharing my tips for what you should do post-tax season including:

- checking your assessment
- making arrangement for payment
- organizing your documents
- getting ready for next year!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Anyone else feel like filing your tax return can be a bit anti-climactic?  In today's mini-episode, I am sharing my tips for what you should do post-tax season including:

- checking your assessment
- making arrangement for payment
- organizing your documents
- getting ready for next year!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Wed, 08 May 2024 06:00:00 -0500 Amanda Doucette Amanda Doucette 882 Anyone else feel like filing your tax return can be a bit anti-climactic?  In today's mini-episode, I am sharing my tips for what you should do post-tax season including:

- checking your assessment
- making arrangement for payment
- organizing your documents
- getting ready for next year!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick - Have you received a letter from CRA after filing your tax return? 5 5 7 7 Musings of a Tax Chick - Have you received a letter from CRA after filing your tax return? full a2718aa2-1467-4a08-b1f1-c44a608ea872 https://share.transistor.fm/s/db146351 The countdown is on... only a few days left to the end of the Canadian personal income tax season!  If you have already filed your return, but not yet received your notice of assessment, have you received a letter from CRA asking for more information?

In the last couple of days, a number of my clients have reached out for help after receiving letters from the "Preassessment Review" section of CRA.  If you receive one of these letters, do not panic!  When your tax return is e-filed, supporting documentation is not included in the tax filing.  As a result, sometimes CRA likes to "check in" before issuing an assessment to double check that the numbers in your tax return can be supported by documentation.

In this episode, I explain the preassessment review process, and give some tips on how to respond to CRA!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> The countdown is on... only a few days left to the end of the Canadian personal income tax season!  If you have already filed your return, but not yet received your notice of assessment, have you received a letter from CRA asking for more information?

In the last couple of days, a number of my clients have reached out for help after receiving letters from the "Preassessment Review" section of CRA.  If you receive one of these letters, do not panic!  When your tax return is e-filed, supporting documentation is not included in the tax filing.  As a result, sometimes CRA likes to "check in" before issuing an assessment to double check that the numbers in your tax return can be supported by documentation.

In this episode, I explain the preassessment review process, and give some tips on how to respond to CRA!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Sun, 28 Apr 2024 06:00:00 -0500 Amanda Doucette Amanda Doucette 863 The countdown is on... only a few days left to the end of the Canadian personal income tax season!  If you have already filed your return, but not yet received your notice of assessment, have you received a letter from CRA asking for more information?

In the last couple of days, a number of my clients have reached out for help after receiving letters from the "Preassessment Review" section of CRA.  If you receive one of these letters, do not panic!  When your tax return is e-filed, supporting documentation is not included in the tax filing.  As a result, sometimes CRA likes to "check in" before issuing an assessment to double check that the numbers in your tax return can be supported by documentation.

In this episode, I explain the preassessment review process, and give some tips on how to respond to CRA!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Federal Budget 2024 - Musings of a Tax Chick 5 5 6 6 Federal Budget 2024 - Musings of a Tax Chick full c155d7a4-1861-4fe1-ac94-37108be23e3c https://share.transistor.fm/s/b751509a You asked for it... an episode on the 2024 Federal Budget geared towards non-tax practitioners!  
I fully intended to make this a mini-episode, but there was just SO MUCH to discuss, that I ended up talking for over 30 minutes - I hand-picked a few of the key changes to discuss, but if there are other items you would like me to address in a future episode, please let me know!

In this episode, I cover:

  1. History of the Federal Budget and why it matters - including why I call it the "Oscars" for tax professionals, and my plea to get a golden ticket to be part of the budget lockdown (3:52)
  2. Capital gains - what are they, how are they taxed, and what are the proposed changes? (12:35)
  3. What is the lifetime capital gains exemption, and how did it change? (27:30)
  4. Tax Litigation hot topics, including the proposed expansion to s. 160 of the Act, "notice of non-compliance" and the new ability to request documentation/information under oath. (29:32)

RESOURCES DISCUSSED IN THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> You asked for it... an episode on the 2024 Federal Budget geared towards non-tax practitioners!  
I fully intended to make this a mini-episode, but there was just SO MUCH to discuss, that I ended up talking for over 30 minutes - I hand-picked a few of the key changes to discuss, but if there are other items you would like me to address in a future episode, please let me know!

In this episode, I cover:

  1. History of the Federal Budget and why it matters - including why I call it the "Oscars" for tax professionals, and my plea to get a golden ticket to be part of the budget lockdown (3:52)
  2. Capital gains - what are they, how are they taxed, and what are the proposed changes? (12:35)
  3. What is the lifetime capital gains exemption, and how did it change? (27:30)
  4. Tax Litigation hot topics, including the proposed expansion to s. 160 of the Act, "notice of non-compliance" and the new ability to request documentation/information under oath. (29:32)

RESOURCES DISCUSSED IN THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 18 Apr 2024 06:00:00 -0500 Amanda Doucette Amanda Doucette 2311 You asked for it... an episode on the 2024 Federal Budget geared towards non-tax practitioners!  
I fully intended to make this a mini-episode, but there was just SO MUCH to discuss, that I ended up talking for over 30 minutes - I hand-picked a few of the key changes to discuss, but if there are other items you would like me to address in a future episode, please let me know!

In this episode, I cover:

  1. History of the Federal Budget and why it matters - including why I call it the "Oscars" for tax professionals, and my plea to get a golden ticket to be part of the budget lockdown (3:52)
  2. Capital gains - what are they, how are they taxed, and what are the proposed changes? (12:35)
  3. What is the lifetime capital gains exemption, and how did it change? (27:30)
  4. Tax Litigation hot topics, including the proposed expansion to s. 160 of the Act, "notice of non-compliance" and the new ability to request documentation/information under oath. (29:32)

RESOURCES DISCUSSED IN THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No TFSAs - breaking down what you need to know! (with special guest, Evan Neufeld) 5 5 1 1 TFSAs - breaking down what you need to know! (with special guest, Evan Neufeld) full 608416fb-d591-4429-bebc-697a4916619f https://share.transistor.fm/s/7b5244fd Kicking off SEASON 5 of The Tax Chick Podcast with a special guest episode featuring fellow Saskatoon podcaster and Certified Financial Planner, Evan Neufeld! 

Tax Free Savings Accounts, or "TFSAs" - such a fun acronym!  You likely have this type of investment, and are aware that one of the perks of a TFSA is that the growth accrues tax free... but are you curious to learn a little bit more?  Check out this episode to learn:

- What is a TFSA? (4:00)
- Are there limits to what you can put into a TFSA? (6:13)
- What happens if you over-contribute? (9:20)
- How is it taxed? (12:08)
- What happens when you withdraw funds from a TFSA? (14:35)
- What types of investments can you hold in a TFSA? (18:15)
- What happens when you die? (24:00)

Make sure to check out Evan's podcast (The Canadian Money Roadmap) for some great information on personal finance, including a recent episode entitled, "Avoid These 6 TFSA Mistakes".  

P.S.  DJ CWC created some new intro music for me which I am debuting on this episode!!! 

CONNECT WITH EVAN:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Kicking off SEASON 5 of The Tax Chick Podcast with a special guest episode featuring fellow Saskatoon podcaster and Certified Financial Planner, Evan Neufeld! 

Tax Free Savings Accounts, or "TFSAs" - such a fun acronym!  You likely have this type of investment, and are aware that one of the perks of a TFSA is that the growth accrues tax free... but are you curious to learn a little bit more?  Check out this episode to learn:

- What is a TFSA? (4:00)
- Are there limits to what you can put into a TFSA? (6:13)
- What happens if you over-contribute? (9:20)
- How is it taxed? (12:08)
- What happens when you withdraw funds from a TFSA? (14:35)
- What types of investments can you hold in a TFSA? (18:15)
- What happens when you die? (24:00)

Make sure to check out Evan's podcast (The Canadian Money Roadmap) for some great information on personal finance, including a recent episode entitled, "Avoid These 6 TFSA Mistakes".  

P.S.  DJ CWC created some new intro music for me which I am debuting on this episode!!! 

CONNECT WITH EVAN:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Tue, 26 Mar 2024 07:00:00 -0500 Amanda Doucette Amanda Doucette 1855 Kicking off SEASON 5 of The Tax Chick Podcast with a special guest episode featuring fellow Saskatoon podcaster and Certified Financial Planner, Evan Neufeld! 

Tax Free Savings Accounts, or "TFSAs" - such a fun acronym!  You likely have this type of investment, and are aware that one of the perks of a TFSA is that the growth accrues tax free... but are you curious to learn a little bit more?  Check out this episode to learn:

- What is a TFSA? (4:00)
- Are there limits to what you can put into a TFSA? (6:13)
- What happens if you over-contribute? (9:20)
- How is it taxed? (12:08)
- What happens when you withdraw funds from a TFSA? (14:35)
- What types of investments can you hold in a TFSA? (18:15)
- What happens when you die? (24:00)

Make sure to check out Evan's podcast (The Canadian Money Roadmap) for some great information on personal finance, including a recent episode entitled, "Avoid These 6 TFSA Mistakes".  

P.S.  DJ CWC created some new intro music for me which I am debuting on this episode!!! 

CONNECT WITH EVAN:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick... overview of Season 5, and life update! 5 5 2 2 Musings of a Tax Chick... overview of Season 5, and life update! full c3229ad4-dbf8-412e-a8dd-2d8ddaf4e02f https://share.transistor.fm/s/03332e37 Season 5!!! How did that happen?  Check out this mini-episode for a brief trip down memory lane on the history of this podcast, a sneak preview of what is coming for this season, and a life update.

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Season 5!!! How did that happen?  Check out this mini-episode for a brief trip down memory lane on the history of this podcast, a sneak preview of what is coming for this season, and a life update.

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Tue, 26 Mar 2024 07:00:00 -0500 Amanda Doucette Amanda Doucette 976 Season 5!!! How did that happen?  Check out this mini-episode for a brief trip down memory lane on the history of this podcast, a sneak preview of what is coming for this season, and a life update.

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick... Trusts 101 5 5 3 3 Musings of a Tax Chick... Trusts 101 full 35a64dc4-09ce-44ea-982e-d31e5f44d697 https://share.transistor.fm/s/f28b2b7c Have you noticed that everyone seems to be talking about trusts these days???  Seemed like an appropriate time to release a few mini-episodes on the topic. 

If you are looking for some foundational information on trusts, check out this episode.  I cover topics like:

- What is a trust? (2:02)
- The three certainties (4:40)
- Reasons why a trust may be used (6:15)
- Who are the parties to a trust? (9:30)
- What are the different types of beneficiaries? (11:15)
- How are trusts taxed? (12:47)

And check out the next couple episodes to continue your "trust" journey!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Have you noticed that everyone seems to be talking about trusts these days???  Seemed like an appropriate time to release a few mini-episodes on the topic. 

If you are looking for some foundational information on trusts, check out this episode.  I cover topics like:

- What is a trust? (2:02)
- The three certainties (4:40)
- Reasons why a trust may be used (6:15)
- Who are the parties to a trust? (9:30)
- What are the different types of beneficiaries? (11:15)
- How are trusts taxed? (12:47)

And check out the next couple episodes to continue your "trust" journey!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Tue, 26 Mar 2024 07:00:00 -0500 Amanda Doucette Amanda Doucette 1004 Have you noticed that everyone seems to be talking about trusts these days???  Seemed like an appropriate time to release a few mini-episodes on the topic. 

If you are looking for some foundational information on trusts, check out this episode.  I cover topics like:

- What is a trust? (2:02)
- The three certainties (4:40)
- Reasons why a trust may be used (6:15)
- Who are the parties to a trust? (9:30)
- What are the different types of beneficiaries? (11:15)
- How are trusts taxed? (12:47)

And check out the next couple episodes to continue your "trust" journey!

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick... Bare trusts and trust reporting rules 5 5 5 5 Musings of a Tax Chick... Bare trusts and trust reporting rules full 88c1b126-de3c-4c77-81e5-517f828740c6 https://share.transistor.fm/s/ba1d9db0 UPDATE:  March 28, 2024 (1:15 p.m.)
CRA just released an update on bare trust filing requirements, and has advised that CRA will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust) for the 2023 tax year, unless the CRA makes a direct request for those filings.

The full notice can be found at this link: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2024/bare-trusts-exempt-from-trust-reporting-requirements-2023.html?utm_source=Master+Email+List&utm_campaign=1c6ce21145-N2N_PT_2024_LAUNCH_COPY_01&utm_medium=email&utm_term=0_-9f60340710-%5BLIST_EMAIL_ID%5D

~ ~ ~
The new trust reporting rules... the latest "gift" from the Federal Ministry of Finance... :)  Tune in to Part 3 of this short series of mini-episodes on trusts to learn a little bit about the new trust reporting rules, and when they apply.   If you have a family trust, or if you have co-signed a mortgage, or added someone to title to property for the purposes of avoiding probate, you should probably listen to this episode, as the new rules will likely apply to you!

- What are the new rules and why are you being asked for additional information? (0:58)
- Express trusts (3:10)
- Exceptions to the rules (5:00)
- Penalties (6:27)
- What does this mean for trusts? (7:25)
- Bare trusts (8:25)

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> UPDATE:  March 28, 2024 (1:15 p.m.)
CRA just released an update on bare trust filing requirements, and has advised that CRA will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust) for the 2023 tax year, unless the CRA makes a direct request for those filings.

The full notice can be found at this link: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2024/bare-trusts-exempt-from-trust-reporting-requirements-2023.html?utm_source=Master+Email+List&utm_campaign=1c6ce21145-N2N_PT_2024_LAUNCH_COPY_01&utm_medium=email&utm_term=0_-9f60340710-%5BLIST_EMAIL_ID%5D

~ ~ ~
The new trust reporting rules... the latest "gift" from the Federal Ministry of Finance... :)  Tune in to Part 3 of this short series of mini-episodes on trusts to learn a little bit about the new trust reporting rules, and when they apply.   If you have a family trust, or if you have co-signed a mortgage, or added someone to title to property for the purposes of avoiding probate, you should probably listen to this episode, as the new rules will likely apply to you!

- What are the new rules and why are you being asked for additional information? (0:58)
- Express trusts (3:10)
- Exceptions to the rules (5:00)
- Penalties (6:27)
- What does this mean for trusts? (7:25)
- Bare trusts (8:25)

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Tue, 26 Mar 2024 07:00:00 -0500 Amanda Doucette Amanda Doucette 977 UPDATE:  March 28, 2024 (1:15 p.m.)
CRA just released an update on bare trust filing requirements, and has advised that CRA will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust) for the 2023 tax year, unless the CRA makes a direct request for those filings.

The full notice can be found at this link: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2024/bare-trusts-exempt-from-trust-reporting-requirements-2023.html?utm_source=Master+Email+List&utm_campaign=1c6ce21145-N2N_PT_2024_LAUNCH_COPY_01&utm_medium=email&utm_term=0_-9f60340710-%5BLIST_EMAIL_ID%5D

~ ~ ~
The new trust reporting rules... the latest "gift" from the Federal Ministry of Finance... :)  Tune in to Part 3 of this short series of mini-episodes on trusts to learn a little bit about the new trust reporting rules, and when they apply.   If you have a family trust, or if you have co-signed a mortgage, or added someone to title to property for the purposes of avoiding probate, you should probably listen to this episode, as the new rules will likely apply to you!

- What are the new rules and why are you being asked for additional information? (0:58)
- Express trusts (3:10)
- Exceptions to the rules (5:00)
- Penalties (6:27)
- What does this mean for trusts? (7:25)
- Bare trusts (8:25)

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick... Advanced trust topics! 5 5 4 4 Musings of a Tax Chick... Advanced trust topics! full fe977b66-7e65-45bd-bf0c-f12509963cec https://share.transistor.fm/s/04a65b1d This is Part 2 of the mini-episodes on all things trusts!  If you have mastered the basics, check out this episode for a discussion of some more advanced topics including:

- Adding or Removing Beneficiaries (1:20)
- Alter Ego and Joint Spousal Trusts (4:05)
- Family law implications (9:13)
- Corporate association issues (11:40)
- Ongoing maintenance (13:40)

ADDITIONAL RESOURCES DISCUSSED ON THIS EPISODE:

  • CRA Views Document: 9209655
  • CRA Views Document: 2008-0281411I7
  • CRA Views Document: 2001-0111303
  • CRA Views Document: 2012-0451791E5

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> This is Part 2 of the mini-episodes on all things trusts!  If you have mastered the basics, check out this episode for a discussion of some more advanced topics including:

- Adding or Removing Beneficiaries (1:20)
- Alter Ego and Joint Spousal Trusts (4:05)
- Family law implications (9:13)
- Corporate association issues (11:40)
- Ongoing maintenance (13:40)

ADDITIONAL RESOURCES DISCUSSED ON THIS EPISODE:

  • CRA Views Document: 9209655
  • CRA Views Document: 2008-0281411I7
  • CRA Views Document: 2001-0111303
  • CRA Views Document: 2012-0451791E5

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Tue, 26 Mar 2024 07:00:00 -0500 Amanda Doucette Amanda Doucette 945 This is Part 2 of the mini-episodes on all things trusts!  If you have mastered the basics, check out this episode for a discussion of some more advanced topics including:

- Adding or Removing Beneficiaries (1:20)
- Alter Ego and Joint Spousal Trusts (4:05)
- Family law implications (9:13)
- Corporate association issues (11:40)
- Ongoing maintenance (13:40)

ADDITIONAL RESOURCES DISCUSSED ON THIS EPISODE:

  • CRA Views Document: 9209655
  • CRA Views Document: 2008-0281411I7
  • CRA Views Document: 2001-0111303
  • CRA Views Document: 2012-0451791E5

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Happy New Year! Reflecting on 2023, and looking ahead to 2024... 4 4 15 15 Happy New Year! Reflecting on 2023, and looking ahead to 2024... full fcb6b71f-0aa1-412c-bfdc-51e8ac89bb2a https://share.transistor.fm/s/a45c3189 Before you pop the champagne and sing Auld Lang Syne tomorrow night, I wanted to give you one last episode of The Tax Chick Podcast for 2023!  I will be back with Season 5 of the podcast (and debuting some new music!) in March 2024.

In this episode, I provide some information on STEP and why I was in London, England earlier this month, and reflect on the craziness of 2023 (remember the CRA strike right in the middle of tax season???)  I also give a sneak preview of things to come in 2024...

Happy New Year to you and your families, and all the best for 2024!  

]]> Before you pop the champagne and sing Auld Lang Syne tomorrow night, I wanted to give you one last episode of The Tax Chick Podcast for 2023!  I will be back with Season 5 of the podcast (and debuting some new music!) in March 2024.

In this episode, I provide some information on STEP and why I was in London, England earlier this month, and reflect on the craziness of 2023 (remember the CRA strike right in the middle of tax season???)  I also give a sneak preview of things to come in 2024...

Happy New Year to you and your families, and all the best for 2024!  

]]> Sat, 30 Dec 2023 11:46:49 -0600 Amanda Doucette Amanda Doucette 1042 Before you pop the champagne and sing Auld Lang Syne tomorrow night, I wanted to give you one last episode of The Tax Chick Podcast for 2023!  I will be back with Season 5 of the podcast (and debuting some new music!) in March 2024.

In this episode, I provide some information on STEP and why I was in London, England earlier this month, and reflect on the craziness of 2023 (remember the CRA strike right in the middle of tax season???)  I also give a sneak preview of things to come in 2024...

Happy New Year to you and your families, and all the best for 2024!  

]]> tax, business, entrepreneur, finance No Do you need a fractional CFO? Featuring special guest, Jordan Brown 4 4 14 14 Do you need a fractional CFO? Featuring special guest, Jordan Brown full 396a7b54-2f35-45ef-ae51-f4ff00f79b37 https://share.transistor.fm/s/975d5971 When you hear the acronym "CFO" what do you think?  You might think that your business only needs a "Chief Financial Officer" if you are making millions of dollars... turns out, that is not the case!

On today's episode of the podcast, I am bringing back Jordan Brown, principal of Lift Accounting and Copilot Advisory right here in Saskatoon.  We are tackling the following topics:  (1) What is a CFO? (5:05); (2) What are some factors that would suggest you need a CFO? (7:50); (3) Where do you find a CFO? (15:50); and (4) What types of services/duties would a CFO perform for you? (21:20).

RESOURCES DISCUSSED ON THIS EPISODE:

CONNECT WITH JORDAN:


HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> When you hear the acronym "CFO" what do you think?  You might think that your business only needs a "Chief Financial Officer" if you are making millions of dollars... turns out, that is not the case!

On today's episode of the podcast, I am bringing back Jordan Brown, principal of Lift Accounting and Copilot Advisory right here in Saskatoon.  We are tackling the following topics:  (1) What is a CFO? (5:05); (2) What are some factors that would suggest you need a CFO? (7:50); (3) Where do you find a CFO? (15:50); and (4) What types of services/duties would a CFO perform for you? (21:20).

RESOURCES DISCUSSED ON THIS EPISODE:

CONNECT WITH JORDAN:


HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 30 Nov 2023 07:00:00 -0600 Amanda Doucette Amanda Doucette 1836 When you hear the acronym "CFO" what do you think?  You might think that your business only needs a "Chief Financial Officer" if you are making millions of dollars... turns out, that is not the case!

On today's episode of the podcast, I am bringing back Jordan Brown, principal of Lift Accounting and Copilot Advisory right here in Saskatoon.  We are tackling the following topics:  (1) What is a CFO? (5:05); (2) What are some factors that would suggest you need a CFO? (7:50); (3) Where do you find a CFO? (15:50); and (4) What types of services/duties would a CFO perform for you? (21:20).

RESOURCES DISCUSSED ON THIS EPISODE:

CONNECT WITH JORDAN:


HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick... have you contemplated the income tax payable on your death? 4 4 13 13 Musings of a Tax Chick... have you contemplated the income tax payable on your death? full 24cb3bdc-bbbc-464b-abe7-1b661d602d3a https://share.transistor.fm/s/6c15fbeb In the spirit of all things spooky, it seemed like an appropriate time to talk about the spookiest tax of all... the income tax to your estate!  So many of my clients focus on probate fees - but fail to consider the "big" tax... the income tax liability.

Check out this mini-episode for an update on my visits to the College of Law, a reminder about repayment of your CEBA loan, and a brief discussion of the tax rules on death.

UPDATE:  In this episode, I reminded listeners about the UHT filing deadline - after release of the episode, on October 31, 2023, the federal government announced an extension to the filing deadline for UHT returns for the 2022 calendar year to April 30, 2024.

]]> In the spirit of all things spooky, it seemed like an appropriate time to talk about the spookiest tax of all... the income tax to your estate!  So many of my clients focus on probate fees - but fail to consider the "big" tax... the income tax liability.

Check out this mini-episode for an update on my visits to the College of Law, a reminder about repayment of your CEBA loan, and a brief discussion of the tax rules on death.

UPDATE:  In this episode, I reminded listeners about the UHT filing deadline - after release of the episode, on October 31, 2023, the federal government announced an extension to the filing deadline for UHT returns for the 2022 calendar year to April 30, 2024.

]]> Thu, 26 Oct 2023 07:00:00 -0500 Amanda Doucette Amanda Doucette 1021 In the spirit of all things spooky, it seemed like an appropriate time to talk about the spookiest tax of all... the income tax to your estate!  So many of my clients focus on probate fees - but fail to consider the "big" tax... the income tax liability.

Check out this mini-episode for an update on my visits to the College of Law, a reminder about repayment of your CEBA loan, and a brief discussion of the tax rules on death.

UPDATE:  In this episode, I reminded listeners about the UHT filing deadline - after release of the episode, on October 31, 2023, the federal government announced an extension to the filing deadline for UHT returns for the 2022 calendar year to April 30, 2024.

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick... Drake, estate planning and the CEBA Loans 4 4 12 12 Musings of a Tax Chick... Drake, estate planning and the CEBA Loans full fa6970b5-fb08-4c71-bf89-38a29f60b7a9 https://share.transistor.fm/s/014c8d4b Drake dropped a new album on Friday, October 6th - which is basically like Christmas in my house :)  Check out this episode for my thoughts on Drake's new album, and some musings on the tax planning he might be engaging in for his son, Adonis.

But, the main event for this episode is a discussion on the Canada Emergency Business Account ("CEBA").  On September 14, 2023, the Prime Minister announced extended deadlines for the CEBA loan repayments, which caused some major confusion for business owners. 

In this episode, I break down (1) what was the CEBA, and what were the application terms? (2) What was the big deal about this loan? and (3) what are the actual repayment terms for 2024? 

I will be releasing a blog post on this topic soon, so make sure you are signed up to be a Tax Chick VIP under the member category on my website: www.thetaxchick.ca.  Membership is free and gives you access to all my blog posts, as well as notification on new posts.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Drake dropped a new album on Friday, October 6th - which is basically like Christmas in my house :)  Check out this episode for my thoughts on Drake's new album, and some musings on the tax planning he might be engaging in for his son, Adonis.

But, the main event for this episode is a discussion on the Canada Emergency Business Account ("CEBA").  On September 14, 2023, the Prime Minister announced extended deadlines for the CEBA loan repayments, which caused some major confusion for business owners. 

In this episode, I break down (1) what was the CEBA, and what were the application terms? (2) What was the big deal about this loan? and (3) what are the actual repayment terms for 2024? 

I will be releasing a blog post on this topic soon, so make sure you are signed up to be a Tax Chick VIP under the member category on my website: www.thetaxchick.ca.  Membership is free and gives you access to all my blog posts, as well as notification on new posts.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Mon, 09 Oct 2023 07:00:00 -0500 Amanda Doucette Amanda Doucette 1244 Drake dropped a new album on Friday, October 6th - which is basically like Christmas in my house :)  Check out this episode for my thoughts on Drake's new album, and some musings on the tax planning he might be engaging in for his son, Adonis.

But, the main event for this episode is a discussion on the Canada Emergency Business Account ("CEBA").  On September 14, 2023, the Prime Minister announced extended deadlines for the CEBA loan repayments, which caused some major confusion for business owners. 

In this episode, I break down (1) what was the CEBA, and what were the application terms? (2) What was the big deal about this loan? and (3) what are the actual repayment terms for 2024? 

I will be releasing a blog post on this topic soon, so make sure you are signed up to be a Tax Chick VIP under the member category on my website: www.thetaxchick.ca.  Membership is free and gives you access to all my blog posts, as well as notification on new posts.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No The 411 on the Underused Housing Tax, with fellow tax chick, Anna Malazhavaya 4 4 11 11 The 411 on the Underused Housing Tax, with fellow tax chick, Anna Malazhavaya full 9c73d800-a24a-49ab-96fb-55c24d1965d4 https://share.transistor.fm/s/b963a91d This is the 50th episode of my podcast!! YAY!!!
Happy to have fellow tax chick, Anna Malazhavaya of Advotax Law back on the podcast to chat about the Underused Housing Tax... did you know that this tax could apply to you even if you are a Canadian resident?  Despite what you might have heard in the news, this tax is not just for non-residents.

We are chatting about: (1) What is the Underused Housing Tax ? (7:20); (2) When might it apply? (10:35)  (3) What happens if you do not comply? (14:10)

UPDATE:  On October 31, 2023, the federal government announced an extension to the filing deadline for UHT returns for the 2022 calendar year to April 30, 2024!

RESOURCES DISCUSSED ON THIS EPISODE:

CONNECT WITH ANNA:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> This is the 50th episode of my podcast!! YAY!!!
Happy to have fellow tax chick, Anna Malazhavaya of Advotax Law back on the podcast to chat about the Underused Housing Tax... did you know that this tax could apply to you even if you are a Canadian resident?  Despite what you might have heard in the news, this tax is not just for non-residents.

We are chatting about: (1) What is the Underused Housing Tax ? (7:20); (2) When might it apply? (10:35)  (3) What happens if you do not comply? (14:10)

UPDATE:  On October 31, 2023, the federal government announced an extension to the filing deadline for UHT returns for the 2022 calendar year to April 30, 2024!

RESOURCES DISCUSSED ON THIS EPISODE:

CONNECT WITH ANNA:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 14 Sep 2023 07:00:00 -0500 Amanda Doucette Amanda Doucette 1839 This is the 50th episode of my podcast!! YAY!!!
Happy to have fellow tax chick, Anna Malazhavaya of Advotax Law back on the podcast to chat about the Underused Housing Tax... did you know that this tax could apply to you even if you are a Canadian resident?  Despite what you might have heard in the news, this tax is not just for non-residents.

We are chatting about: (1) What is the Underused Housing Tax ? (7:20); (2) When might it apply? (10:35)  (3) What happens if you do not comply? (14:10)

UPDATE:  On October 31, 2023, the federal government announced an extension to the filing deadline for UHT returns for the 2022 calendar year to April 30, 2024!

RESOURCES DISCUSSED ON THIS EPISODE:

CONNECT WITH ANNA:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick - The Tax Chick as a keynote speaker! Ways to learn about tax and much more... 4 4 10 10 Musings of a Tax Chick - The Tax Chick as a keynote speaker! Ways to learn about tax and much more... full 05e64e31-dbf2-4d9f-bcf5-3b0d37aaf9e9 https://share.transistor.fm/s/35ef0cea The number 1 question I get asked in DMs is... "If I want to learn about tax, where do I start?"  The answer to that question differs depending on what your goals are for this exciting new tax journey.  Are you a professional who is looking to specialize in tax?  Or are you a professional or a business owner who is looking to learn some foundational information about tax?  In this episode, I break down some of my favorite sources for tax education!

Also... if you are in Saskatoon (or going to be in Saskatoon on September 21st), I am a keynote speaker at an awesome event happening on Thursday, September 21, 2023 from 11:15 a.m. to 1:00 p.m. at the TCU Place main stage!  While you will be enjoying a healthy lunch, I will be speaking on death and taxes, and the fabulous chef, entrepreneur and restaurant owner Christie Peters, will be dropping some knowledge!   To join in for this fabulous event, check out this link: TCU Tickets for Masters Event!

ADDITIONAL RESOURCES:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> The number 1 question I get asked in DMs is... "If I want to learn about tax, where do I start?"  The answer to that question differs depending on what your goals are for this exciting new tax journey.  Are you a professional who is looking to specialize in tax?  Or are you a professional or a business owner who is looking to learn some foundational information about tax?  In this episode, I break down some of my favorite sources for tax education!

Also... if you are in Saskatoon (or going to be in Saskatoon on September 21st), I am a keynote speaker at an awesome event happening on Thursday, September 21, 2023 from 11:15 a.m. to 1:00 p.m. at the TCU Place main stage!  While you will be enjoying a healthy lunch, I will be speaking on death and taxes, and the fabulous chef, entrepreneur and restaurant owner Christie Peters, will be dropping some knowledge!   To join in for this fabulous event, check out this link: TCU Tickets for Masters Event!

ADDITIONAL RESOURCES:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Sun, 27 Aug 2023 13:12:21 -0500 Amanda Doucette Amanda Doucette 1152 The number 1 question I get asked in DMs is... "If I want to learn about tax, where do I start?"  The answer to that question differs depending on what your goals are for this exciting new tax journey.  Are you a professional who is looking to specialize in tax?  Or are you a professional or a business owner who is looking to learn some foundational information about tax?  In this episode, I break down some of my favorite sources for tax education!

Also... if you are in Saskatoon (or going to be in Saskatoon on September 21st), I am a keynote speaker at an awesome event happening on Thursday, September 21, 2023 from 11:15 a.m. to 1:00 p.m. at the TCU Place main stage!  While you will be enjoying a healthy lunch, I will be speaking on death and taxes, and the fabulous chef, entrepreneur and restaurant owner Christie Peters, will be dropping some knowledge!   To join in for this fabulous event, check out this link: TCU Tickets for Masters Event!

ADDITIONAL RESOURCES:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick - Happy Birthday to the Podcast!!! (The Origin Story) 4 4 9 9 Musings of a Tax Chick - Happy Birthday to the Podcast!!! (The Origin Story) full dbe54464-8f5c-42f0-93bf-e8066f524a28 https://share.transistor.fm/s/66037582 Happy birthday to my podcast,
Happy birthday to my podcast,
Happy birthday, happy birthday,
Happy birthday to my podcast!!!!

Today marks the 3rd anniversary of my podcast - yay!  Over 22,000 downloads, 4 seasons, and listeners in over 50 countries - I am so proud of what this podcast has become!

I thought this might be an appropriate time to talk about the origin story of the podcast... it starts at a vegan wellness retreat, and really came to life while working from home at the height of the pandemic.  Check out this episode for all the details... including how the podcast was almost called something very different :)

If you are new to the podcast and not sure where to start, check out the "guide" that I have created on my website: www.thetaxchick.ca.  I break down the episodes by topic, and have created a curated list just for my listeners!

Thank you to everyone who has supported the podcast - your support means so much!

]]> Happy birthday to my podcast,
Happy birthday to my podcast,
Happy birthday, happy birthday,
Happy birthday to my podcast!!!!

Today marks the 3rd anniversary of my podcast - yay!  Over 22,000 downloads, 4 seasons, and listeners in over 50 countries - I am so proud of what this podcast has become!

I thought this might be an appropriate time to talk about the origin story of the podcast... it starts at a vegan wellness retreat, and really came to life while working from home at the height of the pandemic.  Check out this episode for all the details... including how the podcast was almost called something very different :)

If you are new to the podcast and not sure where to start, check out the "guide" that I have created on my website: www.thetaxchick.ca.  I break down the episodes by topic, and have created a curated list just for my listeners!

Thank you to everyone who has supported the podcast - your support means so much!

]]> Sun, 13 Aug 2023 06:00:00 -0500 Amanda Doucette Amanda Doucette 925 Happy birthday to my podcast,
Happy birthday to my podcast,
Happy birthday, happy birthday,
Happy birthday to my podcast!!!!

Today marks the 3rd anniversary of my podcast - yay!  Over 22,000 downloads, 4 seasons, and listeners in over 50 countries - I am so proud of what this podcast has become!

I thought this might be an appropriate time to talk about the origin story of the podcast... it starts at a vegan wellness retreat, and really came to life while working from home at the height of the pandemic.  Check out this episode for all the details... including how the podcast was almost called something very different :)

If you are new to the podcast and not sure where to start, check out the "guide" that I have created on my website: www.thetaxchick.ca.  I break down the episodes by topic, and have created a curated list just for my listeners!

Thank you to everyone who has supported the podcast - your support means so much!

]]> tax, business, entrepreneur, finance No Tax-Driven Bankruptcies and CRA Collections issues, with special guest, Michelle Scheller 4 4 8 8 Tax-Driven Bankruptcies and CRA Collections issues, with special guest, Michelle Scheller full f47b96ee-5ced-443f-b495-e2a9e3a37cf9 https://share.transistor.fm/s/adefbb9f "Who cares if I owe a lot of money to CRA?  I can just go bankrupt!"

I have heard this statement quite a few times in my career... but unfortunately, there are a lot of misconceptions about bankruptcy, and in particular the interception of bankruptcy and tax debt.  Now that CRA has ramped up their collections action again, I thought it might be an appropriate time to bring on an expert to help chat about these topics.  My special guest, Michelle Scheller, is a licensed insolvency trustee with MNP Ltd., and I have referred a number of clients to her team in the past to help with particularly "sticky" CRA collections issues.  Michelle and I chat about the following:

  • What is a licensed insolvency trustee? (4:40)
  • What does it mean to "go bankrupt" or "be insolvent"? (5:05)
  • What is a proposal versus a bankruptcy? (10:05)
  • What are the special rules that apply when you have a "tax driven" bankruptcy? (16:35)
  • What are the first steps you should take if you think you need help? (21:30)

ADDITIONAL RESOURCES:

CONNECT WITH MICHELLE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> "Who cares if I owe a lot of money to CRA?  I can just go bankrupt!"

I have heard this statement quite a few times in my career... but unfortunately, there are a lot of misconceptions about bankruptcy, and in particular the interception of bankruptcy and tax debt.  Now that CRA has ramped up their collections action again, I thought it might be an appropriate time to bring on an expert to help chat about these topics.  My special guest, Michelle Scheller, is a licensed insolvency trustee with MNP Ltd., and I have referred a number of clients to her team in the past to help with particularly "sticky" CRA collections issues.  Michelle and I chat about the following:

  • What is a licensed insolvency trustee? (4:40)
  • What does it mean to "go bankrupt" or "be insolvent"? (5:05)
  • What is a proposal versus a bankruptcy? (10:05)
  • What are the special rules that apply when you have a "tax driven" bankruptcy? (16:35)
  • What are the first steps you should take if you think you need help? (21:30)

ADDITIONAL RESOURCES:

CONNECT WITH MICHELLE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 20 Jul 2023 07:00:00 -0500 Amanda Doucette Amanda Doucette 1794 "Who cares if I owe a lot of money to CRA?  I can just go bankrupt!"

I have heard this statement quite a few times in my career... but unfortunately, there are a lot of misconceptions about bankruptcy, and in particular the interception of bankruptcy and tax debt.  Now that CRA has ramped up their collections action again, I thought it might be an appropriate time to bring on an expert to help chat about these topics.  My special guest, Michelle Scheller, is a licensed insolvency trustee with MNP Ltd., and I have referred a number of clients to her team in the past to help with particularly "sticky" CRA collections issues.  Michelle and I chat about the following:

  • What is a licensed insolvency trustee? (4:40)
  • What does it mean to "go bankrupt" or "be insolvent"? (5:05)
  • What is a proposal versus a bankruptcy? (10:05)
  • What are the special rules that apply when you have a "tax driven" bankruptcy? (16:35)
  • What are the first steps you should take if you think you need help? (21:30)

ADDITIONAL RESOURCES:

CONNECT WITH MICHELLE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick... Shopify and the CRA requirement to provide information - what does it mean for your business? 4 4 7 7 Musings of a Tax Chick... Shopify and the CRA requirement to provide information - what does it mean for your business? full 93126452-8494-4c4a-af40-d427ed39eb37 https://share.transistor.fm/s/0b3662a1 The CEO of Shopify (Tobias Lutke) tweeted last week that the company intends to fight a request from the Canada Revenue Agency (CRA) to turn over six years of records of more than 121,000 Canadian stores using the firm’s platform.  If you use Shopify in your business, this tweet should have made you sit up a little straighter in your chair...

What is a "requirement" and can Shopify be required to turn over this information?  Check out this episode for more details!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> The CEO of Shopify (Tobias Lutke) tweeted last week that the company intends to fight a request from the Canada Revenue Agency (CRA) to turn over six years of records of more than 121,000 Canadian stores using the firm’s platform.  If you use Shopify in your business, this tweet should have made you sit up a little straighter in your chair...

What is a "requirement" and can Shopify be required to turn over this information?  Check out this episode for more details!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Sun, 02 Jul 2023 19:16:51 -0500 Amanda Doucette Amanda Doucette 971 The CEO of Shopify (Tobias Lutke) tweeted last week that the company intends to fight a request from the Canada Revenue Agency (CRA) to turn over six years of records of more than 121,000 Canadian stores using the firm’s platform.  If you use Shopify in your business, this tweet should have made you sit up a little straighter in your chair...

What is a "requirement" and can Shopify be required to turn over this information?  Check out this episode for more details!

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> tax, business, entrepreneur, finance No Musings of a Tax Chick - CRA strike is over! STEP Canada conference, and taxpayer relief applications 4 4 6 6 Musings of a Tax Chick - CRA strike is over! STEP Canada conference, and taxpayer relief applications full 7db88d90-1d3c-455d-9804-6cf80ae439f5 https://share.transistor.fm/s/64120b14 If you owe penalties and/or interest to Canada Revenue Agency, you might be able to get some relief - on today's "Musings" I break down the top 6 things you need to know about Taxpayer Relief Applications!  (I also remind you about some things you should be doing now that the CRA strike is over, and give a sneak peek of the next guest episode of The Tax Chick Podcast!)  

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> If you owe penalties and/or interest to Canada Revenue Agency, you might be able to get some relief - on today's "Musings" I break down the top 6 things you need to know about Taxpayer Relief Applications!  (I also remind you about some things you should be doing now that the CRA strike is over, and give a sneak peek of the next guest episode of The Tax Chick Podcast!)  

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> Sun, 28 May 2023 16:29:30 -0500 Amanda Doucette Amanda Doucette 996 If you owe penalties and/or interest to Canada Revenue Agency, you might be able to get some relief - on today's "Musings" I break down the top 6 things you need to know about Taxpayer Relief Applications!  (I also remind you about some things you should be doing now that the CRA strike is over, and give a sneak peek of the next guest episode of The Tax Chick Podcast!)  

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:


]]> tax, business, entrepreneur, finance No Copyrights and Trademarks - a "tax-adjacent" episode with special guest, Luanne Schlosser of Lunova Law! 4 4 5 5 Copyrights and Trademarks - a "tax-adjacent" episode with special guest, Luanne Schlosser of Lunova Law! full f3e3f584-2317-4f53-8d3f-70133344422a https://share.transistor.fm/s/b6aec6c2 Do you know the difference between a business name and a trademark?  
What does copyright mean, and how do you claim copyright over your "stuff"?
Did you realize that when starting a new brand, it is a good idea to complete some domain name searches and trademark searches first?
Have you heard the story of the Christmas geese at the Eaton Center in Toronto?

In this episode of the podcast, I chat with special guest, Luanne Schlosser, the founder of Lunova Law in Saskatoon, Saskatchewan all about "intellectual property".  We chat about: (1) What is copyright? (4:55); (2) What should business owners know about copyright when they are hiring someone to complete their branding and marketing? (8:55); (3) What needs to be "assigned" on a business sale? (11:45); (4) What is a trademark? (17:34); and (5) How are business names different from a trademark? (19:20). 

CONNECT WITH LUANNE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Do you know the difference between a business name and a trademark?  
What does copyright mean, and how do you claim copyright over your "stuff"?
Did you realize that when starting a new brand, it is a good idea to complete some domain name searches and trademark searches first?
Have you heard the story of the Christmas geese at the Eaton Center in Toronto?

In this episode of the podcast, I chat with special guest, Luanne Schlosser, the founder of Lunova Law in Saskatoon, Saskatchewan all about "intellectual property".  We chat about: (1) What is copyright? (4:55); (2) What should business owners know about copyright when they are hiring someone to complete their branding and marketing? (8:55); (3) What needs to be "assigned" on a business sale? (11:45); (4) What is a trademark? (17:34); and (5) How are business names different from a trademark? (19:20). 

CONNECT WITH LUANNE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 11 May 2023 07:00:00 -0500 Amanda Doucette Amanda Doucette 2102 Do you know the difference between a business name and a trademark?  
What does copyright mean, and how do you claim copyright over your "stuff"?
Did you realize that when starting a new brand, it is a good idea to complete some domain name searches and trademark searches first?
Have you heard the story of the Christmas geese at the Eaton Center in Toronto?

In this episode of the podcast, I chat with special guest, Luanne Schlosser, the founder of Lunova Law in Saskatoon, Saskatchewan all about "intellectual property".  We chat about: (1) What is copyright? (4:55); (2) What should business owners know about copyright when they are hiring someone to complete their branding and marketing? (8:55); (3) What needs to be "assigned" on a business sale? (11:45); (4) What is a trademark? (17:34); and (5) How are business names different from a trademark? (19:20). 

CONNECT WITH LUANNE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick: CRA strike continues! Why you should file your return... and what to do after you file 4 4 4 4 Musings of a Tax Chick: CRA strike continues! Why you should file your return... and what to do after you file full 16dafde6-9dd8-4781-bb19-8fdf083b6ff2 https://share.transistor.fm/s/79fb9e76 May 1st is fast approaching!  Have you filed your taxes yet?  Check out this bite-sized episode of the podcast for an update on the CRA strike, and reasons why you should file your tax return.  If you are self-employed and plan to file by June 15th, do not forget that your taxes are still due by April 30th - consider making an instalment payment now based on an estimate of tax in order to avoid additional interest!  And, do you know what you should do after filing your tax return?  In this episode, I give my top tips on what to do after filing your return. 

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> May 1st is fast approaching!  Have you filed your taxes yet?  Check out this bite-sized episode of the podcast for an update on the CRA strike, and reasons why you should file your tax return.  If you are self-employed and plan to file by June 15th, do not forget that your taxes are still due by April 30th - consider making an instalment payment now based on an estimate of tax in order to avoid additional interest!  And, do you know what you should do after filing your tax return?  In this episode, I give my top tips on what to do after filing your return. 

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Sun, 30 Apr 2023 07:00:00 -0500 Amanda Doucette Amanda Doucette 901 May 1st is fast approaching!  Have you filed your taxes yet?  Check out this bite-sized episode of the podcast for an update on the CRA strike, and reasons why you should file your tax return.  If you are self-employed and plan to file by June 15th, do not forget that your taxes are still due by April 30th - consider making an instalment payment now based on an estimate of tax in order to avoid additional interest!  And, do you know what you should do after filing your tax return?  In this episode, I give my top tips on what to do after filing your return. 

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick: CRA on strike? Tax Filing deadline, and how to resolve disputes with CRA 4 4 3 3 Musings of a Tax Chick: CRA on strike? Tax Filing deadline, and how to resolve disputes with CRA full 26c7d90c-83b4-4870-afcf-c7ec3c582de9 https://share.transistor.fm/s/c258633b This year's personal income tax filing deadline is about 2 weeks away - have you filed your return yet?  To add to this year's filing excitement, the workers at CRA voted in favour of job action and as of April 14, 2023, the workers are in a legal strike position.  In this short episode, I give an update on what this strike might mean for the last two weeks of tax filing season, and round out the episode with some information on how to resolve a tax dispute with CRA.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> This year's personal income tax filing deadline is about 2 weeks away - have you filed your return yet?  To add to this year's filing excitement, the workers at CRA voted in favour of job action and as of April 14, 2023, the workers are in a legal strike position.  In this short episode, I give an update on what this strike might mean for the last two weeks of tax filing season, and round out the episode with some information on how to resolve a tax dispute with CRA.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Sun, 16 Apr 2023 07:00:00 -0500 Amanda Doucette Amanda Doucette 1194 This year's personal income tax filing deadline is about 2 weeks away - have you filed your return yet?  To add to this year's filing excitement, the workers at CRA voted in favour of job action and as of April 14, 2023, the workers are in a legal strike position.  In this short episode, I give an update on what this strike might mean for the last two weeks of tax filing season, and round out the episode with some information on how to resolve a tax dispute with CRA.

RESOURCES DISCUSSED ON THIS EPISODE:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Musings of a Tax Chick: Learning Center, New Kids on the Block, and Underused Housing Tax 4 4 2 2 Musings of a Tax Chick: Learning Center, New Kids on the Block, and Underused Housing Tax full 02f2c0b4-9559-4337-9dd4-06aad2e73fa8 https://share.transistor.fm/s/0cfb021d In this bite-sized episode of the podcast, I provide some tips and tricks on how to utilize the new "Learning Center" on my website, update you on my efforts to clean out my keepsake boxes with my Mom, and wax poetic about the upcoming federal budget...

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> In this bite-sized episode of the podcast, I provide some tips and tricks on how to utilize the new "Learning Center" on my website, update you on my efforts to clean out my keepsake boxes with my Mom, and wax poetic about the upcoming federal budget...

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Sun, 26 Mar 2023 16:44:55 -0500 Amanda Doucette Amanda Doucette 901 In this bite-sized episode of the podcast, I provide some tips and tricks on how to utilize the new "Learning Center" on my website, update you on my efforts to clean out my keepsake boxes with my Mom, and wax poetic about the upcoming federal budget...

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No Are you ready for tax season? It is easier than you think! Get prepared with special guest, Shalini Dharna 4 4 1 1 Are you ready for tax season? It is easier than you think! Get prepared with special guest, Shalini Dharna full 3add88e5-d0a6-47a7-a78a-83e219f762be https://share.transistor.fm/s/b5a7e179 Yes, it is that time of year again… some of us dread it, others get excited… it is tax season time!  For individuals, this year’s tax filing deadline is May 1, 2023 (because April 30th falls on a Sunday) - and for self-employed individuals, your deadline is June 15, 2023.  


More often than not, getting your books ready for taxes can be a bit of a panic, and there is often no time to sit down and do some ‘forward thinking’ about key business considerations.  So, I thought this might be the perfect time to bring on fellow tax chick, Shalini Dharna, who describes herself as “a doctor for your finances”.


She is passionate about educating entrepreneurs on the “dos and do nots” of small business finances, especially when it comes to staying on CRAs nice list :)  Together, we tackle: (1) how to prepare for tax season (8:20); (2) What makes your taxes complicated (i.e., should you contract out your tax filings? (15:05); and (3) some business considerations that are often missed (25:15).


RESOURCES DISCUSSED ON THIS EPISODE:

CONNECT WITH SHALINI:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Yes, it is that time of year again… some of us dread it, others get excited… it is tax season time!  For individuals, this year’s tax filing deadline is May 1, 2023 (because April 30th falls on a Sunday) - and for self-employed individuals, your deadline is June 15, 2023.  


More often than not, getting your books ready for taxes can be a bit of a panic, and there is often no time to sit down and do some ‘forward thinking’ about key business considerations.  So, I thought this might be the perfect time to bring on fellow tax chick, Shalini Dharna, who describes herself as “a doctor for your finances”.


She is passionate about educating entrepreneurs on the “dos and do nots” of small business finances, especially when it comes to staying on CRAs nice list :)  Together, we tackle: (1) how to prepare for tax season (8:20); (2) What makes your taxes complicated (i.e., should you contract out your tax filings? (15:05); and (3) some business considerations that are often missed (25:15).


RESOURCES DISCUSSED ON THIS EPISODE:

CONNECT WITH SHALINI:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Thu, 09 Mar 2023 07:00:00 -0600 Amanda Doucette Amanda Doucette 2222 Yes, it is that time of year again… some of us dread it, others get excited… it is tax season time!  For individuals, this year’s tax filing deadline is May 1, 2023 (because April 30th falls on a Sunday) - and for self-employed individuals, your deadline is June 15, 2023.  


More often than not, getting your books ready for taxes can be a bit of a panic, and there is often no time to sit down and do some ‘forward thinking’ about key business considerations.  So, I thought this might be the perfect time to bring on fellow tax chick, Shalini Dharna, who describes herself as “a doctor for your finances”.


She is passionate about educating entrepreneurs on the “dos and do nots” of small business finances, especially when it comes to staying on CRAs nice list :)  Together, we tackle: (1) how to prepare for tax season (8:20); (2) What makes your taxes complicated (i.e., should you contract out your tax filings? (15:05); and (3) some business considerations that are often missed (25:15).


RESOURCES DISCUSSED ON THIS EPISODE:

CONNECT WITH SHALINI:

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> tax, business, entrepreneur, finance No How to tackle "vintage" tax debt 4 4 How to tackle "vintage" tax debt bonus 8f86e4e3-fff6-458c-b2cb-bea19ed03066 https://share.transistor.fm/s/6df4a035 Hi!  Me again, for another bite-sized solo episode of The Tax Chick Podcast!
In today's episode, I am chatting about "vintage" tax debt... a.k.a. income tax debt from many years ago.  How do you find out what you owe?  How do you tackle payments?  How do you figure out what portion of the debt is tax versus interest?  Is there a statute of limitations?

I am sharing my tips and tricks for how to get your arms around the issue, and some potential solutions to the problem! 

RESOURCES DISCUSSED IN THIS EPISODE

 
HERE ARE SOME OTHER WAYS TO CONNECT WITH ME


]]> Hi!  Me again, for another bite-sized solo episode of The Tax Chick Podcast!
In today's episode, I am chatting about "vintage" tax debt... a.k.a. income tax debt from many years ago.  How do you find out what you owe?  How do you tackle payments?  How do you figure out what portion of the debt is tax versus interest?  Is there a statute of limitations?

I am sharing my tips and tricks for how to get your arms around the issue, and some potential solutions to the problem! 

RESOURCES DISCUSSED IN THIS EPISODE

 
HERE ARE SOME OTHER WAYS TO CONNECT WITH ME


]]> Sun, 05 Feb 2023 07:00:00 -0600 Amanda Doucette Amanda Doucette 998 Hi!  Me again, for another bite-sized solo episode of The Tax Chick Podcast!
In today's episode, I am chatting about "vintage" tax debt... a.k.a. income tax debt from many years ago.  How do you find out what you owe?  How do you tackle payments?  How do you figure out what portion of the debt is tax versus interest?  Is there a statute of limitations?

I am sharing my tips and tricks for how to get your arms around the issue, and some potential solutions to the problem! 

RESOURCES DISCUSSED IN THIS EPISODE

 
HERE ARE SOME OTHER WAYS TO CONNECT WITH ME


]]> tax, business, entrepreneur, finance No Life update... and a little bit of tax too :) 4 4 Life update... and a little bit of tax too :) bonus ff2de473-18c4-45b9-8ec9-20da2607ddb6 https://share.transistor.fm/s/a19ea75b Want to stay up to date on all of the exciting changes coming to the blog and the podcast in 2023? 
You can find out all that and more if you sign up to be a "Tax Chick VIP":  http://eepurl.com/hNbXcb .  Over the next couple of months, I will be sharing sneak peeks of the upcoming changes, and asking for your feedback!

I am going to be in Toronto speaking at the ATAP "Refresh" seminar later this month - see this link for more details:
https://www.atapcanada.org/site/winter-2023-seminar-refresh

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Want to stay up to date on all of the exciting changes coming to the blog and the podcast in 2023? 
You can find out all that and more if you sign up to be a "Tax Chick VIP":  http://eepurl.com/hNbXcb .  Over the next couple of months, I will be sharing sneak peeks of the upcoming changes, and asking for your feedback!

I am going to be in Toronto speaking at the ATAP "Refresh" seminar later this month - see this link for more details:
https://www.atapcanada.org/site/winter-2023-seminar-refresh

HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

]]> Sat, 07 Jan 2023 08:00:00 -0600 Amanda Doucette Amanda Doucette 912 Happy New Year! Hope you enjoy this bite-sized episode of the podcast - I am sharing a few updates about my life, the blog, the podcast, and upcoming travels. Oh, and since this is still a tax podcast, I am also sharing a little bit of practical information on how to authorize a representative on your Canada Revenue Agency account. Happy New Year! Hope you enjoy this bite-sized episode of the podcast - I am sharing a few updates about my life, the blog, the podcast, and upcoming travels. Oh, and since this is still a tax podcast, I am also sharing a little bit of practical informa tax, business, entrepreneur, finance No Will you be my executor? The role of the corporate executor in estate planning, with Anisa Diwan 3 3 12 12 Will you be my executor? The role of the corporate executor in estate planning, with Anisa Diwan full 82828c24-90a7-4089-9630-7dabcadda981 https://share.transistor.fm/s/a649e626 Did you know that it often takes 100+ hours to settle an estate when someone passes away?  Being an executor is a lot of work.  Throw in added complexities like blended families, business ownership, and assets outside of the jurisdiction, and executorship can turn into a full-time job! 

I spend a lot of time chatting with clients about who they wish to appoint as an executor.  Typically, people like to appoint a spouse, a child, a sibling, or a close family friend.  And in many instances, that makes sense.  However, given the increasing complexity involved in administering an estate, consideration should be given as to whether an outside objective party makes more sense.  In this episode, the objective party we are talking about is the "trust company".

My special guest on this episode is Anisa Diwan, a Wills and Estate advisor for RBC Royal Trust (Prairies Region) - we are chatting all about the "corporate executor".  Never heard of a corporate executor before?  You are not alone!  By the end of this episode, you will learn: (1) what factors support the appointment of a corporate executor (9:46), (2) the process in completing the appointment in your Will, including what it costs, and when you have to pay (20:20), and (3) what happens after you pass away - what exactly does the corporate executor do? (30:05).

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM ANISA:

MORE FROM AMANDA:


]]> Did you know that it often takes 100+ hours to settle an estate when someone passes away?  Being an executor is a lot of work.  Throw in added complexities like blended families, business ownership, and assets outside of the jurisdiction, and executorship can turn into a full-time job! 

I spend a lot of time chatting with clients about who they wish to appoint as an executor.  Typically, people like to appoint a spouse, a child, a sibling, or a close family friend.  And in many instances, that makes sense.  However, given the increasing complexity involved in administering an estate, consideration should be given as to whether an outside objective party makes more sense.  In this episode, the objective party we are talking about is the "trust company".

My special guest on this episode is Anisa Diwan, a Wills and Estate advisor for RBC Royal Trust (Prairies Region) - we are chatting all about the "corporate executor".  Never heard of a corporate executor before?  You are not alone!  By the end of this episode, you will learn: (1) what factors support the appointment of a corporate executor (9:46), (2) the process in completing the appointment in your Will, including what it costs, and when you have to pay (20:20), and (3) what happens after you pass away - what exactly does the corporate executor do? (30:05).

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM ANISA:

MORE FROM AMANDA:


]]> Thu, 15 Dec 2022 07:00:00 -0600 Amanda Doucette Amanda Doucette 2534 Did you know that it often takes 100+ hours to settle an estate when someone passes away?  Being an executor is a lot of work.  Throw in added complexities like blended families, business ownership, and assets outside of the jurisdiction, and executorship can turn into a full-time job! 

I spend a lot of time chatting with clients about who they wish to appoint as an executor.  Typically, people like to appoint a spouse, a child, a sibling, or a close family friend.  And in many instances, that makes sense.  However, given the increasing complexity involved in administering an estate, consideration should be given as to whether an outside objective party makes more sense.  In this episode, the objective party we are talking about is the "trust company".

My special guest on this episode is Anisa Diwan, a Wills and Estate advisor for RBC Royal Trust (Prairies Region) - we are chatting all about the "corporate executor".  Never heard of a corporate executor before?  You are not alone!  By the end of this episode, you will learn: (1) what factors support the appointment of a corporate executor (9:46), (2) the process in completing the appointment in your Will, including what it costs, and when you have to pay (20:20), and (3) what happens after you pass away - what exactly does the corporate executor do? (30:05).

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM ANISA:

MORE FROM AMANDA:


]]> tax, business, entrepreneur, finance No THE TAX CHICK PODCAST LIVE!!!! The Estate Planning Toolkit - the importance of collaboration amongst advisors! (Part II) 3 3 11 11 THE TAX CHICK PODCAST LIVE!!!! The Estate Planning Toolkit - the importance of collaboration amongst advisors! (Part II) full 707cc31f-767f-4411-bf62-2e72da83ee56 https://share.transistor.fm/s/1e83916e So excited to release this two-part series on estate planning - this episode (as well as Episode 10) was recorded LIVE in Banff, Alberta at the CPA Small Practitioner's Forum!   My special guest and I are talking all about what estate planning means to us - and how completing your "estate plan" is about more than just the three-legged stool (the will, the power of attorney, and the health care directive).  Estate planning is a lifelong process - your plan will evolve over time!

In the second part of this series, please join us for a discussion on... (1) Shareholders' Agreements (2:30), (2) Corporate-owned life insurance (8:00), and (3) Hot topics (16:30).  What are the "hot topics"?  Well, we chat about how estate planning is about more than just the immediate client that is in front of you - it is also relevant to know about family dynamics!  In addition, we chat about the importance of documenting intention when providing a gift in lifetime - and the sticky issues that can arise when a child is added onto a bank account or legal title to property.   Towards the end of the episode, we share a portion of the rapid fire question and answer period of our presentation - thank you to participants for your engagement! 

For a more fulsome discussion of the topic of joint ownership, check out Season 2, Episode 10 with special guest, Christine van Cauwenberghe.

And, if you are curious to learn more about insurance, check out Season 2, Episode 9 "Insurance 101" with special guests Tracy Duff and Jerry Gedir.

A huge shout-out to the organizers of the Forum, and to the lovely folks at Proshow Audiovisual and Tall Girl Conference Planning who helped to make this possible!

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM JOS:

MORE FROM AMANDA

]]> So excited to release this two-part series on estate planning - this episode (as well as Episode 10) was recorded LIVE in Banff, Alberta at the CPA Small Practitioner's Forum!   My special guest and I are talking all about what estate planning means to us - and how completing your "estate plan" is about more than just the three-legged stool (the will, the power of attorney, and the health care directive).  Estate planning is a lifelong process - your plan will evolve over time!

In the second part of this series, please join us for a discussion on... (1) Shareholders' Agreements (2:30), (2) Corporate-owned life insurance (8:00), and (3) Hot topics (16:30).  What are the "hot topics"?  Well, we chat about how estate planning is about more than just the immediate client that is in front of you - it is also relevant to know about family dynamics!  In addition, we chat about the importance of documenting intention when providing a gift in lifetime - and the sticky issues that can arise when a child is added onto a bank account or legal title to property.   Towards the end of the episode, we share a portion of the rapid fire question and answer period of our presentation - thank you to participants for your engagement! 

For a more fulsome discussion of the topic of joint ownership, check out Season 2, Episode 10 with special guest, Christine van Cauwenberghe.

And, if you are curious to learn more about insurance, check out Season 2, Episode 9 "Insurance 101" with special guests Tracy Duff and Jerry Gedir.

A huge shout-out to the organizers of the Forum, and to the lovely folks at Proshow Audiovisual and Tall Girl Conference Planning who helped to make this possible!

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM JOS:

MORE FROM AMANDA

]]> Wed, 02 Nov 2022 07:00:00 -0500 Amanda Doucette Amanda Doucette 2255 Welcome to part two of the LIVE EPISODE of the podcast with my special guest Jos Herman. In this episode we cover: (1) shareholder agreements (2) corporate-owned life insurance; and (3) beneficiary designations/joint ownership of property. Missed part I? I encourage you to go back to Episode 10 for a discussion on: (1) What is estate planning? (2) Estate freezes and (3) Trusts. Welcome to part two of the LIVE EPISODE of the podcast with my special guest Jos Herman. In this episode we cover: (1) shareholder agreements (2) corporate-owned life insurance; and (3) beneficiary designations/joint ownership of property. Missed part tax, business, entrepreneur, finance No THE TAX CHICK PODCAST LIVE!!!! The Estate Planning Toolkit - the importance of collaboration amongst advisors! (Part I) 3 3 10 10 THE TAX CHICK PODCAST LIVE!!!! The Estate Planning Toolkit - the importance of collaboration amongst advisors! (Part I) full 3321c9ed-3dd3-4b13-9da0-a303bd443859 https://share.transistor.fm/s/46c8a19c So excited to release this two-part series on estate planning - this episode was recorded LIVE in Banff, Alberta at the CPA Small Practitioner's Forum!   My special guest and I are talking all about what estate planning means to us - and how completing your "estate plan" is about more than just the three-legged stool (the will, the power of attorney, and the health care directive).  Estate planning is a lifelong process - your plan will evolve over time! 

In the first part of this series, please join us for a discussion on... (1) What is estate planning?  (9:20); and (2) Estate Freezes (13:05); and (3) Trusts (20:35).  And of course, you will also find out Jos' favorite podcast and her favorite emoji (hint: it involves a hoodie... a.k.a. "bunnyhug" in Saskatchewanian).

This episode is not just for advisors... if you are a business owner and have ever heard about "estate freezes" or "trusts", this episode is for you too!  We chat about how these tools are used, and some key things to keep in mind when utilizing them as part of your estate plan.  We also chat about what "probate" is, what information can be found on a public court file, and the impact of having entrepreneurial beneficiaries.

A huge shout-out to the organizers of the Forum, and to the lovely folks at Proshow Audiovisual and Tall Girl Conference Planning who helped to make this possible!

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM JOS:


MORE FROM AMANDA

]]> So excited to release this two-part series on estate planning - this episode was recorded LIVE in Banff, Alberta at the CPA Small Practitioner's Forum!   My special guest and I are talking all about what estate planning means to us - and how completing your "estate plan" is about more than just the three-legged stool (the will, the power of attorney, and the health care directive).  Estate planning is a lifelong process - your plan will evolve over time! 

In the first part of this series, please join us for a discussion on... (1) What is estate planning?  (9:20); and (2) Estate Freezes (13:05); and (3) Trusts (20:35).  And of course, you will also find out Jos' favorite podcast and her favorite emoji (hint: it involves a hoodie... a.k.a. "bunnyhug" in Saskatchewanian).

This episode is not just for advisors... if you are a business owner and have ever heard about "estate freezes" or "trusts", this episode is for you too!  We chat about how these tools are used, and some key things to keep in mind when utilizing them as part of your estate plan.  We also chat about what "probate" is, what information can be found on a public court file, and the impact of having entrepreneurial beneficiaries.

A huge shout-out to the organizers of the Forum, and to the lovely folks at Proshow Audiovisual and Tall Girl Conference Planning who helped to make this possible!

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM JOS:


MORE FROM AMANDA

]]> Wed, 02 Nov 2022 07:00:00 -0500 Amanda Doucette Amanda Doucette 2479 Welcome to the first of a two-part LIVE EPISODE of the podcast with my special guest Jos Herman. In this episode we cover: (1) what is estate planning? (2) Estate freezes (3) Trusts... check out the next episode to learn more about shareholders' agreements, corporate-owned life insurance, and joint ownership of property. Welcome to the first of a two-part LIVE EPISODE of the podcast with my special guest Jos Herman. In this episode we cover: (1) what is estate planning? (2) Estate freezes (3) Trusts... check out the next episode to learn more about shareholders' agreemen tax, business, entrepreneur, finance No Talking tax and family business with Joe and Cait of Video Tax News! 3 3 9 9 Talking tax and family business with Joe and Cait of Video Tax News! full c74c3f71-ab5f-4515-9487-feff78bd91b8 https://share.transistor.fm/s/e2343c51 Have you ever felt overwhelmed at the thought of learning about tax?  I completely understand - there is so much information that it is hard to know where to start!  When I get this question, I usually direct people to Video Tax News.  What is Video Tax News?  Well, it is a family business owned by Caitlin Butler, Joe Devaney and their sister Sheena - they cut through the overwhelming avalanche of tax developments to provide practical tax information to 1,000s of Canadian accountants, lawyers, and tax professionals across Canada.

On today's episode, I am joined by Caitlin and Joe to discuss how their family business got started (8:51), what it is like running a business with your siblings (13:01), and we round off the episode with a "top 5" list of tax issues to watch out for in the coming months (23:55).  Caitlin and Joe share stories of their childhood, including tax-related family vacations... and the tips and tricks they have learned over the years to maximize the benefits of working with family.

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM CAITLIN AND JOE

MORE FROM AMANDA

]]> Have you ever felt overwhelmed at the thought of learning about tax?  I completely understand - there is so much information that it is hard to know where to start!  When I get this question, I usually direct people to Video Tax News.  What is Video Tax News?  Well, it is a family business owned by Caitlin Butler, Joe Devaney and their sister Sheena - they cut through the overwhelming avalanche of tax developments to provide practical tax information to 1,000s of Canadian accountants, lawyers, and tax professionals across Canada.

On today's episode, I am joined by Caitlin and Joe to discuss how their family business got started (8:51), what it is like running a business with your siblings (13:01), and we round off the episode with a "top 5" list of tax issues to watch out for in the coming months (23:55).  Caitlin and Joe share stories of their childhood, including tax-related family vacations... and the tips and tricks they have learned over the years to maximize the benefits of working with family.

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM CAITLIN AND JOE

MORE FROM AMANDA

]]> Thu, 22 Sep 2022 07:00:00 -0500 Amanda Doucette Amanda Doucette 2708 Have you ever felt overwhelmed at the thought of learning about tax?  I completely understand - there is so much information that it is hard to know where to start!  When I get this question, I usually direct people to Video Tax News.  What is Video Tax News?  Well, it is a family business owned by Caitlin Butler, Joe Devaney and their sister Sheena - they cut through the overwhelming avalanche of tax developments to provide practical tax information to 1,000s of Canadian accountants, lawyers, and tax professionals across Canada.

On today's episode, I am joined by Caitlin and Joe to discuss how their family business got started (8:51), what it is like running a business with your siblings (13:01), and we round off the episode with a "top 5" list of tax issues to watch out for in the coming months (23:55).  Caitlin and Joe share stories of their childhood, including tax-related family vacations... and the tips and tricks they have learned over the years to maximize the benefits of working with family.

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM CAITLIN AND JOE

MORE FROM AMANDA

]]> tax, business, entrepreneur, finance No Breaking down the basics of cross-border taxation, with special guest, Lori Keightley! 3 3 8 8 Breaking down the basics of cross-border taxation, with special guest, Lori Keightley! full 96f909b8-7aad-4008-8a9c-4ff34a00d939 https://share.transistor.fm/s/0e120d6f Lately, I have been receiving A LOT of requests to have a few episodes on cross-border issues.  I am kicking things off by bringing on my special guest, and fellow tax chick, Lori Keightley to break down the basics on Canada/US taxation.  We discuss:

- Are you a US Citizen? (11:40)
- Why does it matter?  What are your tax filing obligations? (18:00)
- What are the tax implications of renouncing US citizenship? (25:30)
- What happens if you own property in the US? (30:20)
- What about if you are working in the US, but living in Canada (or vice versa)? (41:12)

Did you know that the taxation system in Canada is very different from the US?  This can have some interesting implications for those persons who have ties to both countries.  Check out our conversation for some practical tips on how to navigate cross-border issues!

And if you still want to learn more, check out Season 2 of The Tax Chick Podcast - in episode 2, I chat with Steven Flynn about taxation of snowbirds, and in a bonus episode, I chat with Jamie Szal about tax implications for Canadians selling their services/wares to the US.

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM LORI:

MORE FROM AMANDA

]]> Lately, I have been receiving A LOT of requests to have a few episodes on cross-border issues.  I am kicking things off by bringing on my special guest, and fellow tax chick, Lori Keightley to break down the basics on Canada/US taxation.  We discuss:

- Are you a US Citizen? (11:40)
- Why does it matter?  What are your tax filing obligations? (18:00)
- What are the tax implications of renouncing US citizenship? (25:30)
- What happens if you own property in the US? (30:20)
- What about if you are working in the US, but living in Canada (or vice versa)? (41:12)

Did you know that the taxation system in Canada is very different from the US?  This can have some interesting implications for those persons who have ties to both countries.  Check out our conversation for some practical tips on how to navigate cross-border issues!

And if you still want to learn more, check out Season 2 of The Tax Chick Podcast - in episode 2, I chat with Steven Flynn about taxation of snowbirds, and in a bonus episode, I chat with Jamie Szal about tax implications for Canadians selling their services/wares to the US.

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM LORI:

MORE FROM AMANDA

]]> Thu, 18 Aug 2022 07:00:00 -0500 Amanda Doucette Amanda Doucette 3111 Lately, I have been receiving A LOT of requests to have a few episodes on cross-border issues.  I am kicking things off by bringing on my special guest, and fellow tax chick, Lori Keightley to break down the basics on Canada/US taxation.  We discuss:

- Are you a US Citizen? (11:40)
- Why does it matter?  What are your tax filing obligations? (18:00)
- What are the tax implications of renouncing US citizenship? (25:30)
- What happens if you own property in the US? (30:20)
- What about if you are working in the US, but living in Canada (or vice versa)? (41:12)

Did you know that the taxation system in Canada is very different from the US?  This can have some interesting implications for those persons who have ties to both countries.  Check out our conversation for some practical tips on how to navigate cross-border issues!

And if you still want to learn more, check out Season 2 of The Tax Chick Podcast - in episode 2, I chat with Steven Flynn about taxation of snowbirds, and in a bonus episode, I chat with Jamie Szal about tax implications for Canadians selling their services/wares to the US.

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM LORI:

MORE FROM AMANDA

]]> tax, business, entrepreneur, finance No What is a holistic wealth advisor and why do you need one? 3 3 7 7 What is a holistic wealth advisor and why do you need one? full 7cc222eb-2288-41e3-8d43-96b771eab09b https://share.transistor.fm/s/e0955593 Have you ever heard of the concept of "holistic" wealth planning?  My guest today, Sarah Kolla-Empey, is a wealth advisor (and fellow Tax Chick) who believes this is the best way to approach your financial plan.  Each of us deserves to have a financial advisor in our corner who will educate us and support us throughout the journey of life.  After all, financial planning is about more than just funding retirement or controlling cash flow - it is also about building the life you want for yourself right now!  In this episode of the podcast, we tackle: (1) Why working with a wealth advisor is more than just buying RRSPs or TFSAs (6:48); (2) what is a "holistic" wealth plan (14:15); and (3) Ways to maximize your relationship with your advisor (24:50). 

And if you haven't checked out my episode with financial advisor, Janea Dieno (see Season 1!) it is a great companion episode - we break down what you need to know about how a financial advisor gets paid, and we also discuss taxation of RRSPs, TFSAs and segregated funds.

RESOURCES DISCUSSED ON THE EPISODE:

MORE FROM SARAH:

MORE FROM AMANDA

]]> Have you ever heard of the concept of "holistic" wealth planning?  My guest today, Sarah Kolla-Empey, is a wealth advisor (and fellow Tax Chick) who believes this is the best way to approach your financial plan.  Each of us deserves to have a financial advisor in our corner who will educate us and support us throughout the journey of life.  After all, financial planning is about more than just funding retirement or controlling cash flow - it is also about building the life you want for yourself right now!  In this episode of the podcast, we tackle: (1) Why working with a wealth advisor is more than just buying RRSPs or TFSAs (6:48); (2) what is a "holistic" wealth plan (14:15); and (3) Ways to maximize your relationship with your advisor (24:50). 

And if you haven't checked out my episode with financial advisor, Janea Dieno (see Season 1!) it is a great companion episode - we break down what you need to know about how a financial advisor gets paid, and we also discuss taxation of RRSPs, TFSAs and segregated funds.

RESOURCES DISCUSSED ON THE EPISODE:

MORE FROM SARAH:

MORE FROM AMANDA

]]> Thu, 14 Jul 2022 07:00:00 -0500 Amanda Doucette Amanda Doucette 2151 Breaking news! You should be using your financial advisor for more than just topping up your RRSPs every year... Breaking news! You should be using your financial advisor for more than just topping up your RRSPs every year... tax, business, entrepreneur, finance No What to expect... when you are expecting the CRA! (with Sophie Virji) 3 3 6 6 What to expect... when you are expecting the CRA! (with Sophie Virji) full 947f3fb4-f23a-457b-9607-f9e87143c738 https://share.transistor.fm/s/b94e18b9 Have you ever received a phone call or a letter from Canada Revenue Agency and panicked about what to do next?  Worried whether it was a legitimate call, or a scam?  Felt overwhelmed in how to decide what documents to provide?  Well, this episode is for you!


I am excited to welcome fellow tax chick, Sophie Virji, back to the podcast for this episode!  Sophie and I chatted about the tax litigation process in Season 1 of the podcast (see Episode 5: “Tax Litigation 101”).  We re-group in this episode to tackle some of the “practical” aspects of CRA correspondence.  Specifically, we touch on three main themes: (1) Contact by CRA - phone versus letter versus email and the difference between requirements for information and an audit request (7:20), (2) Giving information back to CRA - electronic submissions, how to assemble your audit team, how to keep track of what information you provide, and a discussion on “privilege” (17:16), and (3) Resolving disputes - there are different ways than an audit can “end” - we chat about settlement, versus the appeal process (37:25).


This episode has some great “tips” regardless of whether you are an individual taxpayer, or you own a business!


RESOURCES DISCUSSED ON THE EPISODE

MORE FROM SOPHIE:

MORE FROM AMANDA

]]> Have you ever received a phone call or a letter from Canada Revenue Agency and panicked about what to do next?  Worried whether it was a legitimate call, or a scam?  Felt overwhelmed in how to decide what documents to provide?  Well, this episode is for you!


I am excited to welcome fellow tax chick, Sophie Virji, back to the podcast for this episode!  Sophie and I chatted about the tax litigation process in Season 1 of the podcast (see Episode 5: “Tax Litigation 101”).  We re-group in this episode to tackle some of the “practical” aspects of CRA correspondence.  Specifically, we touch on three main themes: (1) Contact by CRA - phone versus letter versus email and the difference between requirements for information and an audit request (7:20), (2) Giving information back to CRA - electronic submissions, how to assemble your audit team, how to keep track of what information you provide, and a discussion on “privilege” (17:16), and (3) Resolving disputes - there are different ways than an audit can “end” - we chat about settlement, versus the appeal process (37:25).


This episode has some great “tips” regardless of whether you are an individual taxpayer, or you own a business!


RESOURCES DISCUSSED ON THE EPISODE

MORE FROM SOPHIE:

MORE FROM AMANDA

]]> Thu, 16 Jun 2022 07:00:00 -0500 Amanda Doucette Amanda Doucette 3370 Have you ever received a phone call or a letter from Canada Revenue Agency and panicked about what to do next?  Worried whether it was a legitimate call, or a scam?  Felt overwhelmed in how to decide what documents to provide?  Well, this episode is for you!


I am excited to welcome fellow tax chick, Sophie Virji, back to the podcast for this episode!  Sophie and I chatted about the tax litigation process in Season 1 of the podcast (see Episode 5: “Tax Litigation 101”).  We re-group in this episode to tackle some of the “practical” aspects of CRA correspondence.  Specifically, we touch on three main themes: (1) Contact by CRA - phone versus letter versus email and the difference between requirements for information and an audit request (7:20), (2) Giving information back to CRA - electronic submissions, how to assemble your audit team, how to keep track of what information you provide, and a discussion on “privilege” (17:16), and (3) Resolving disputes - there are different ways than an audit can “end” - we chat about settlement, versus the appeal process (37:25).


This episode has some great “tips” regardless of whether you are an individual taxpayer, or you own a business!


RESOURCES DISCUSSED ON THE EPISODE

MORE FROM SOPHIE:

MORE FROM AMANDA

]]> tax, business, entrepreneur, finance No Three gifts that only bookkeeping can give you! (with Jami Monte) 3 3 5 5 Three gifts that only bookkeeping can give you! (with Jami Monte) full aaa47cb6-329e-4be4-a1fe-cc1454cbc254 https://share.transistor.fm/s/30d6e2e7 Quickbooks.  Credits and Debits.  Profit and Loss statements.  Receipts.  Cash Flow. 

Did any of those words make the hair on the back of your neck stand up?  In today's episode of the podcast, we are going to tackle these words head on - take back the power! 

Bookkeeping and document organization come up so often with my clients.  It seems like this is the universal stressor for most business owners.  So, it felt appropriate to have another episode on the topic!  Don't fear - this is not a technical episode.  Instead, I am chatting with my fabulous guest about all of other things that you can use your bookkeeping for... it is not just to be prepared for the dreaded audit!  My guest, Jami Monte, describes herself as "not your parent's accountant"... she is fun, she is high energy and she believes that everyone can learn about their numbers! 

We are tackling the following topics:  (1) the "big eyeball moment" when someone truly sees their numbers for the first time (9:20); (2) how bookkeeping is the foundation for being ready for an audit (19:29); and (3) the client experience - how keeping your bookkeeping in order can actually improve the experience for the end user (29:51).... and we finish off with some fun "hot topics" where we chat about automation and the pros and cons of outsourcing your books versus doing it yourself (35:22).

P.S. My very first podcast episode EVER was with Tasha Baier - my bookkeeper!  I have often spoken about how I find numbers and spreadsheets stressful.  However, after meeting Tasha, I no longer want to bury my head in the sand when I have to put my documents together.  Tasha and I had a great chat about what it means to be a "bookkeeper" and the different ways you can utilize a bookkeeper in your business.

RESOURCES DISCUSSED ON THE EPISODE:

MORE FROM JAMI: 

MORE FROM AMANDA:

]]> Quickbooks.  Credits and Debits.  Profit and Loss statements.  Receipts.  Cash Flow. 

Did any of those words make the hair on the back of your neck stand up?  In today's episode of the podcast, we are going to tackle these words head on - take back the power! 

Bookkeeping and document organization come up so often with my clients.  It seems like this is the universal stressor for most business owners.  So, it felt appropriate to have another episode on the topic!  Don't fear - this is not a technical episode.  Instead, I am chatting with my fabulous guest about all of other things that you can use your bookkeeping for... it is not just to be prepared for the dreaded audit!  My guest, Jami Monte, describes herself as "not your parent's accountant"... she is fun, she is high energy and she believes that everyone can learn about their numbers! 

We are tackling the following topics:  (1) the "big eyeball moment" when someone truly sees their numbers for the first time (9:20); (2) how bookkeeping is the foundation for being ready for an audit (19:29); and (3) the client experience - how keeping your bookkeeping in order can actually improve the experience for the end user (29:51).... and we finish off with some fun "hot topics" where we chat about automation and the pros and cons of outsourcing your books versus doing it yourself (35:22).

P.S. My very first podcast episode EVER was with Tasha Baier - my bookkeeper!  I have often spoken about how I find numbers and spreadsheets stressful.  However, after meeting Tasha, I no longer want to bury my head in the sand when I have to put my documents together.  Tasha and I had a great chat about what it means to be a "bookkeeper" and the different ways you can utilize a bookkeeper in your business.

RESOURCES DISCUSSED ON THE EPISODE:

MORE FROM JAMI: 

MORE FROM AMANDA:

]]> Thu, 26 May 2022 07:00:00 -0500 Amanda Doucette Amanda Doucette 3039 You are the CEO of your business - you deserve to know what is going on! My guest today believes that anyone can learn about bookkeeping - it is never too late - whether you are in your first year of business, or a seasoned veteran, the principles discussed in this episode apply to you! The numbers matter - and in today's episode we are sharing three different ways that knowing the basics about your bookkeeping can change your life, and your business... You are the CEO of your business - you deserve to know what is going on! My guest today believes that anyone can learn about bookkeeping - it is never too late - whether you are in your first year of business, or a seasoned veteran, the principles discus tax, business, entrepreneur, finance No The Family Meeting - how to make difficult conversations fun! 3 3 4 4 The Family Meeting - how to make difficult conversations fun! full 22d26f98-12ba-4f72-af1e-affa50b1376a https://share.transistor.fm/s/85c69db0 We are on the verge of a huge transition of wealth in Canada - transition due to death, and also transition due to retirement, or third party sale.  We often see business owners having meetings on an annual or quarterly basis to review the "numbers" - things like profits, expenses, projections... but have you ever considered having a meeting to discuss non-financial issues?

My special guest, Laily Pirbhai, provides some guidance today on how to create a "family blueprint" - a way to communicate with family and key stakeholders about values, dreams and goals for the future.  We start by describing the "family meeting" - who participates, and reasons to call a meeting (11:10).  We then move into a discussion of "core values" - how this impacts discussions of philanthropy and governance (27:06).  Laily finishes off by giving her top five tips for a successful family meeting (36:48)!

Who should listen to this episode?  Well, I think it is applicable to anyone - in particular, if you are the primary trusted advisor for a family, a business founder, or hold a key position within a family business!  Although the focus of the episode is to encourage business owners to have these conversations, a family meeting is a great idea for any family (regardless of whether they own a business!)  It is a great opportunity to discuss goals for the future, address concerns, and communicate wishes!

ADDITIONAL RESOURCES

  • Family Enterprise Foundation 2021 report: “Ready, Willing and Interested - or not? Canadian Family Business Transition Intentions”. https://bit.ly/3qrJNa6
  • Family Enterprise Foundation 2021 report: “Who Are The Guardians of Family Legacy?” https://bit.ly/37WX97T
  • Conference Board of Canada 2019 report – “The Economic Impact of Family-Owned Enterprises in Canada”. https://bit.ly/3wya0r9 
  • Canadian Financial Executives Research Foundation 2013 research paper, “Private Company Succession Planning – Where Do You Stand?” http://bit.ly/3aWhtCq
  • FamilyBusiness.org 2015 article “The Family Way: How Entrepreneurial Values Help Businesses Thrive Over Generations.” https://bit.ly/3uh2IFG
  • Book “Complete Family Wealth” by James Hughes, Susan Massenzio, and Keith Whitaker. ISBN 9781119453215.
  • Book “Family Meetings: Creating fun, meaningful conversations . . . beyond the money by Vic Preisser.” ISBN 9780692020241.
  • Video “The Ultimate Legacy”, based on book by Jim Stovall.  https://www.imdb.com/title/tt4738238/
  • “Every Family’s Business: 12 Common Sense Questions to Protect Your Wealth by Thomas W. Deans”
    ISBN 9780980891010.

 MORE FROM LAILY

MORE FROM AMANDA

]]> We are on the verge of a huge transition of wealth in Canada - transition due to death, and also transition due to retirement, or third party sale.  We often see business owners having meetings on an annual or quarterly basis to review the "numbers" - things like profits, expenses, projections... but have you ever considered having a meeting to discuss non-financial issues?

My special guest, Laily Pirbhai, provides some guidance today on how to create a "family blueprint" - a way to communicate with family and key stakeholders about values, dreams and goals for the future.  We start by describing the "family meeting" - who participates, and reasons to call a meeting (11:10).  We then move into a discussion of "core values" - how this impacts discussions of philanthropy and governance (27:06).  Laily finishes off by giving her top five tips for a successful family meeting (36:48)!

Who should listen to this episode?  Well, I think it is applicable to anyone - in particular, if you are the primary trusted advisor for a family, a business founder, or hold a key position within a family business!  Although the focus of the episode is to encourage business owners to have these conversations, a family meeting is a great idea for any family (regardless of whether they own a business!)  It is a great opportunity to discuss goals for the future, address concerns, and communicate wishes!

ADDITIONAL RESOURCES

  • Family Enterprise Foundation 2021 report: “Ready, Willing and Interested - or not? Canadian Family Business Transition Intentions”. https://bit.ly/3qrJNa6
  • Family Enterprise Foundation 2021 report: “Who Are The Guardians of Family Legacy?” https://bit.ly/37WX97T
  • Conference Board of Canada 2019 report – “The Economic Impact of Family-Owned Enterprises in Canada”. https://bit.ly/3wya0r9 
  • Canadian Financial Executives Research Foundation 2013 research paper, “Private Company Succession Planning – Where Do You Stand?” http://bit.ly/3aWhtCq
  • FamilyBusiness.org 2015 article “The Family Way: How Entrepreneurial Values Help Businesses Thrive Over Generations.” https://bit.ly/3uh2IFG
  • Book “Complete Family Wealth” by James Hughes, Susan Massenzio, and Keith Whitaker. ISBN 9781119453215.
  • Book “Family Meetings: Creating fun, meaningful conversations . . . beyond the money by Vic Preisser.” ISBN 9780692020241.
  • Video “The Ultimate Legacy”, based on book by Jim Stovall.  https://www.imdb.com/title/tt4738238/
  • “Every Family’s Business: 12 Common Sense Questions to Protect Your Wealth by Thomas W. Deans”
    ISBN 9780980891010.

 MORE FROM LAILY

MORE FROM AMANDA

]]> Thu, 14 Apr 2022 07:00:00 -0500 Amanda Doucette Amanda Doucette 2766 Business owners - when was the last time you sat down and had a real conversation with your family and/or key employees about your wishes for your business and your estate? Business owners - when was the last time you sat down and had a real conversation with your family and/or key employees about your wishes for your business and your estate? tax, business, entrepreneur, finance No Three common tax audit flags... and how you can be prepared! (with special guest, Dean Blachford) 3 3 3 3 Three common tax audit flags... and how you can be prepared! (with special guest, Dean Blachford) full 076705dd-c828-4f5e-8055-1132052cff82 https://share.transistor.fm/s/7e25d67b One of the pieces of my tax practice that I do not often highlight on this platform is my work in "tax controversy" or "tax litigation".  A huge part of my practice is helping taxpayers navigate through audits, and appeals to the Tax Court of Canada.   Sometimes, the world of audits and appeals can seem a bit "mysterious".  There is also a huge fear associated with receiving communication from Canada Revenue Agency.  The best way to combat fear is with knowledge.  So in today's episode, I am chatting with my guest about three key areas that typically attract a lot of audit activity - and what you can do to prevent an audit in these areas (or at least prepare yourself should one arise).  First, we tackle "shareholder loan accounts" (8:04), then we move on to the dreaded "net worth audit" (17:38), finishing off with a lively discussion on "input tax credits" and what you need to know about your GST filings (27:17).   

RESOURCES DISCUSSED IN THIS EPISODE

MORE FROM DEAN

MORE FROM AMANDA

]]> One of the pieces of my tax practice that I do not often highlight on this platform is my work in "tax controversy" or "tax litigation".  A huge part of my practice is helping taxpayers navigate through audits, and appeals to the Tax Court of Canada.   Sometimes, the world of audits and appeals can seem a bit "mysterious".  There is also a huge fear associated with receiving communication from Canada Revenue Agency.  The best way to combat fear is with knowledge.  So in today's episode, I am chatting with my guest about three key areas that typically attract a lot of audit activity - and what you can do to prevent an audit in these areas (or at least prepare yourself should one arise).  First, we tackle "shareholder loan accounts" (8:04), then we move on to the dreaded "net worth audit" (17:38), finishing off with a lively discussion on "input tax credits" and what you need to know about your GST filings (27:17).   

RESOURCES DISCUSSED IN THIS EPISODE

MORE FROM DEAN

MORE FROM AMANDA

]]> Thu, 17 Mar 2022 07:00:00 -0500 Amanda Doucette Amanda Doucette 2570 Did you know that there are some simple things you can do to help "audit-proof" yourself and your business? Or at the very least, by learning and implementing these practices, you will be CONFIDENT and prepared for the next audit that comes your way! Join me, and my special guest, tax lawyer Dean Blachford, as we break down three common areas of audit scrutiny, and what you can do to be prepared. Did you know that there are some simple things you can do to help "audit-proof" yourself and your business? Or at the very least, by learning and implementing these practices, you will be CONFIDENT and prepared for the next audit that comes your way! Jo tax, business, entrepreneur, finance No Discussing Philanthropy with your Advisor, with special guest, Shane Biehn 3 3 2 2 Discussing Philanthropy with your Advisor, with special guest, Shane Biehn full 5126851c-6c34-4007-a287-f162dba91f30 https://share.transistor.fm/s/51ea2963 This episode is a continuation of the discussion on "philanthropy".  Let's say you decide you want to explore the option of a charitable gift (or you are at least curious about your options).  In today's episode, I chat with my special guest, Shane Biehn, about the conversations that you need to be having with your advisor around charitable giving.  We talk about: (1) what it means to be "philanthropic" and how to start the conversation with your advisor (9:25); (2) Taxation of charitable donations (16:01) and different vehicles that you can use to give a charitable donation (hint: it is not just cash) (22:35); and (3) a new initiative in Canada called, "WillPower" (42:02).

Have you heard of "a gift of appreciated securities" or "donor advised funds"?  Well, after listening to this episode you will not only understand what those phrases mean, but be able to have a chat with your family and/or your advisor about each of them!

RESOURCES DISCUSSED ON THE EPISODE:

  • "The Mindset Mentor" Podcast: https://podcasts.apple.com/ca/podcast/the-mindset-mentor/id1033048640
  • "Fantasy Footballers" Podcast: https://www.thefantasyfootballers.com/fantasy-football-podcast/
  • WillPower: https://www.willpower.ca/
  • Canadian Association of Charitable Gift Planners: https://www.cagp-acpdp.org/
  • Infographic: https://cagp-acpdp.aweb.page/canadiangiftsinwills

MORE FROM SHANE:

MORE FROM AMANDA

]]> This episode is a continuation of the discussion on "philanthropy".  Let's say you decide you want to explore the option of a charitable gift (or you are at least curious about your options).  In today's episode, I chat with my special guest, Shane Biehn, about the conversations that you need to be having with your advisor around charitable giving.  We talk about: (1) what it means to be "philanthropic" and how to start the conversation with your advisor (9:25); (2) Taxation of charitable donations (16:01) and different vehicles that you can use to give a charitable donation (hint: it is not just cash) (22:35); and (3) a new initiative in Canada called, "WillPower" (42:02).

Have you heard of "a gift of appreciated securities" or "donor advised funds"?  Well, after listening to this episode you will not only understand what those phrases mean, but be able to have a chat with your family and/or your advisor about each of them!

RESOURCES DISCUSSED ON THE EPISODE:

  • "The Mindset Mentor" Podcast: https://podcasts.apple.com/ca/podcast/the-mindset-mentor/id1033048640
  • "Fantasy Footballers" Podcast: https://www.thefantasyfootballers.com/fantasy-football-podcast/
  • WillPower: https://www.willpower.ca/
  • Canadian Association of Charitable Gift Planners: https://www.cagp-acpdp.org/
  • Infographic: https://cagp-acpdp.aweb.page/canadiangiftsinwills

MORE FROM SHANE:

MORE FROM AMANDA

]]> Thu, 17 Feb 2022 07:00:00 -0600 Amanda Doucette Amanda Doucette 2850 This episode is a continuation of the discussion on "philanthropy".  Let's say you decide you want to explore the option of a charitable gift (or you are at least curious about your options).  In today's episode, I chat with my special guest, Shane Biehn, about the conversations that you need to be having with your advisor around charitable giving.  We talk about: (1) what it means to be "philanthropic" and how to start the conversation with your advisor (9:25); (2) Taxation of charitable donations (16:01) and different vehicles that you can use to give a charitable donation (hint: it is not just cash) (22:35); and (3) a new initiative in Canada called, "WillPower" (42:02).

Have you heard of "a gift of appreciated securities" or "donor advised funds"?  Well, after listening to this episode you will not only understand what those phrases mean, but be able to have a chat with your family and/or your advisor about each of them!

RESOURCES DISCUSSED ON THE EPISODE:

  • "The Mindset Mentor" Podcast: https://podcasts.apple.com/ca/podcast/the-mindset-mentor/id1033048640
  • "Fantasy Footballers" Podcast: https://www.thefantasyfootballers.com/fantasy-football-podcast/
  • WillPower: https://www.willpower.ca/
  • Canadian Association of Charitable Gift Planners: https://www.cagp-acpdp.org/
  • Infographic: https://cagp-acpdp.aweb.page/canadiangiftsinwills

MORE FROM SHANE:

MORE FROM AMANDA

]]> tax, business, entrepreneur, finance No Philanthropy 101 with special guest Lisa Sands 3 3 1 1 Philanthropy 101 with special guest Lisa Sands full e1e2522a-6289-4c34-a3c0-c9041ed3dd40 https://share.transistor.fm/s/5eb20299 Over the past few months, I noticed myself having the same conversation over and over with clients - they wanted to include a charitable donation as part of their estate planning, but had no idea how to choose a charity or where to start.  I realized that people are generally a bit curious about what it means to be a "philanthropist".  Sure, there are tax benefits to making a charitable donation, but there are many other reasons why a person might decide to donate to a charitable organization. 

This episode is the first in a 2-part series on "philanthropy".  In this episode, I chat with special guest, Lisa Sands (Chief Development Officer, RUH Foundation) about: (1) Top things to keep in mind when trying to decide on a charitable gift (10:45); (2) the process for charitable giving - what it can look like to donate in life or as part of your estate planning (22:40); and (3) the Women Leading Philanthropy group (31:01).

Stay tuned for the next episode, where I will dive into the tax benefits of philanthropic giving, and also discuss some of the planning opportunities available.

P.S. In this episode, I am debuting some new music created by my husband to kick off Season 3!  He calls this beat, "Tropical Tax Chick"... can't you just taste the pina coladas?!?

RESOURCES DISCUSSED ON THE EPISODE

  • "I Shake my Head with Lisa and Sam" Podcast: https://podcasts.apple.com/us/podcast/i-shake-my-head/id1232121527
  • "With Less" Newsletter from Marty Finestone: https://legaladjacency.com/with-less/
  • CRA Charities Directorate: https://apps.cra-arc.gc.ca/ebci/hacc/srch/pub/dsplyBscSrch?request_locale=en 
  • RUH Foundation: https://ruhf.org/ 
  • Women Leading Philanthropy (RUH Foundation): https://ruhf.org/women-leading-philanthropy/
  • YouTube Channel for RUH Foundation: https://www.youtube.com/channel/UCUu4nSywH8WtF7lQHZVgFTQ 

MORE FROM LISA:

  • Email: lisa.sands@ruhf.org
  • Facebook: https://www.facebook.com/RoyalUniversityHospitalFoundation/ 
  • Twitter:  https://twitter.com/RUHFoundation 
  • IG: https://www.instagram.com/ruhfoundation/ 
  • LinkedIn: https://www.linkedin.com/company/royal-university-hospital-foundation/ 

MORE FROM AMANDA

]]> Over the past few months, I noticed myself having the same conversation over and over with clients - they wanted to include a charitable donation as part of their estate planning, but had no idea how to choose a charity or where to start.  I realized that people are generally a bit curious about what it means to be a "philanthropist".  Sure, there are tax benefits to making a charitable donation, but there are many other reasons why a person might decide to donate to a charitable organization. 

This episode is the first in a 2-part series on "philanthropy".  In this episode, I chat with special guest, Lisa Sands (Chief Development Officer, RUH Foundation) about: (1) Top things to keep in mind when trying to decide on a charitable gift (10:45); (2) the process for charitable giving - what it can look like to donate in life or as part of your estate planning (22:40); and (3) the Women Leading Philanthropy group (31:01).

Stay tuned for the next episode, where I will dive into the tax benefits of philanthropic giving, and also discuss some of the planning opportunities available.

P.S. In this episode, I am debuting some new music created by my husband to kick off Season 3!  He calls this beat, "Tropical Tax Chick"... can't you just taste the pina coladas?!?

RESOURCES DISCUSSED ON THE EPISODE

  • "I Shake my Head with Lisa and Sam" Podcast: https://podcasts.apple.com/us/podcast/i-shake-my-head/id1232121527
  • "With Less" Newsletter from Marty Finestone: https://legaladjacency.com/with-less/
  • CRA Charities Directorate: https://apps.cra-arc.gc.ca/ebci/hacc/srch/pub/dsplyBscSrch?request_locale=en 
  • RUH Foundation: https://ruhf.org/ 
  • Women Leading Philanthropy (RUH Foundation): https://ruhf.org/women-leading-philanthropy/
  • YouTube Channel for RUH Foundation: https://www.youtube.com/channel/UCUu4nSywH8WtF7lQHZVgFTQ 

MORE FROM LISA:

  • Email: lisa.sands@ruhf.org
  • Facebook: https://www.facebook.com/RoyalUniversityHospitalFoundation/ 
  • Twitter:  https://twitter.com/RUHFoundation 
  • IG: https://www.instagram.com/ruhfoundation/ 
  • LinkedIn: https://www.linkedin.com/company/royal-university-hospital-foundation/ 

MORE FROM AMANDA

]]> Thu, 20 Jan 2022 07:00:00 -0600 Amanda Doucette Amanda Doucette 2556 Over the past few months, I noticed myself having the same conversation over and over with clients - they wanted to include a charitable donation as part of their estate planning, but had no idea how to choose a charity or where to start.  I realized that people are generally a bit curious about what it means to be a "philanthropist".  Sure, there are tax benefits to making a charitable donation, but there are many other reasons why a person might decide to donate to a charitable organization. 

This episode is the first in a 2-part series on "philanthropy".  In this episode, I chat with special guest, Lisa Sands (Chief Development Officer, RUH Foundation) about: (1) Top things to keep in mind when trying to decide on a charitable gift (10:45); (2) the process for charitable giving - what it can look like to donate in life or as part of your estate planning (22:40); and (3) the Women Leading Philanthropy group (31:01).

Stay tuned for the next episode, where I will dive into the tax benefits of philanthropic giving, and also discuss some of the planning opportunities available.

P.S. In this episode, I am debuting some new music created by my husband to kick off Season 3!  He calls this beat, "Tropical Tax Chick"... can't you just taste the pina coladas?!?

RESOURCES DISCUSSED ON THE EPISODE

  • "I Shake my Head with Lisa and Sam" Podcast: https://podcasts.apple.com/us/podcast/i-shake-my-head/id1232121527
  • "With Less" Newsletter from Marty Finestone: https://legaladjacency.com/with-less/
  • CRA Charities Directorate: https://apps.cra-arc.gc.ca/ebci/hacc/srch/pub/dsplyBscSrch?request_locale=en 
  • RUH Foundation: https://ruhf.org/ 
  • Women Leading Philanthropy (RUH Foundation): https://ruhf.org/women-leading-philanthropy/
  • YouTube Channel for RUH Foundation: https://www.youtube.com/channel/UCUu4nSywH8WtF7lQHZVgFTQ 

MORE FROM LISA:

  • Email: lisa.sands@ruhf.org
  • Facebook: https://www.facebook.com/RoyalUniversityHospitalFoundation/ 
  • Twitter:  https://twitter.com/RUHFoundation 
  • IG: https://www.instagram.com/ruhfoundation/ 
  • LinkedIn: https://www.linkedin.com/company/royal-university-hospital-foundation/ 

MORE FROM AMANDA

]]> tax, business, entrepreneur, finance No A fireside chat with a valuator - featuring special guest, JT Dhoot 2 2 13 13 A fireside chat with a valuator - featuring special guest, JT Dhoot full 1b138903-2f39-459a-a9be-e7816d4cec27 https://share.transistor.fm/s/ca035eb1 Have you ever had to obtain a formal "valuation" for something?  Sometimes financial institutions will want a valuation if you are trying to get a mortgage to purchase a property.  Other times, you may need to get a formal valuation before you can sell something - like a collection of artwork, or even your business.  Sometimes Canada Revenue Agency will disagree with your value, and put their own valuators on the case.

But when you hear the phrase, "You should get a formal valuation" do you know what that means?  I know when I first became a lawyer, I had no idea what that meant!  Over the years, I have learned more about the valuation process each time I have had to work with a valuator to help one of my clients.  So, in this episode of The Tax Chick Podcast I am sharing a conversation that I had with, JT Dhoot of Omnis Valuations and Advisory Ltd.  We discuss: (1) the different types of valuations (7:04); (2) the information you should gather if you are looking to get a valuation (14:50); and (3) reasons why you might need to get a valuation (25:27).

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM JT:

MORE FROM AMANDA

]]> Have you ever had to obtain a formal "valuation" for something?  Sometimes financial institutions will want a valuation if you are trying to get a mortgage to purchase a property.  Other times, you may need to get a formal valuation before you can sell something - like a collection of artwork, or even your business.  Sometimes Canada Revenue Agency will disagree with your value, and put their own valuators on the case.

But when you hear the phrase, "You should get a formal valuation" do you know what that means?  I know when I first became a lawyer, I had no idea what that meant!  Over the years, I have learned more about the valuation process each time I have had to work with a valuator to help one of my clients.  So, in this episode of The Tax Chick Podcast I am sharing a conversation that I had with, JT Dhoot of Omnis Valuations and Advisory Ltd.  We discuss: (1) the different types of valuations (7:04); (2) the information you should gather if you are looking to get a valuation (14:50); and (3) reasons why you might need to get a valuation (25:27).

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM JT:

MORE FROM AMANDA

]]> Thu, 16 Dec 2021 07:00:00 -0600 Amanda Doucette Amanda Doucette 2418 Picture this. A roaring fire, hot cider in our mugs, snow falling softly outside. Sounds like a great time to learn about tax, right? For this episode of The Tax Chick Podcast, I invited my friend, JT Dhoot, to chat with me about a very festive topic... valuations :) Picture this. A roaring fire, hot cider in our mugs, snow falling softly outside. Sounds like a great time to learn about tax, right? For this episode of The Tax Chick Podcast, I invited my friend, JT Dhoot, to chat with me about a very festive topic.. tax, business, entrepreneur, finance No Estate Planning is Cool! with Mehul Gandhi 2 2 12 12 Estate Planning is Cool! with Mehul Gandhi full c9d08d49-216f-4a3b-a2e7-804530513fd1 https://share.transistor.fm/s/cce7d6bf Mehul and I met through social media almost a year ago - he is a financial planner and business owner that also believes in the power of collaboration, and promotes the importance of building your "team".  He also happens to be a fellow podcaster, and so we decided it would fun to hook up our fancy microphones and record one of our chats!

We recognize that "estate planning" can seem very overwhelming.  It is hard to know where to start, and often we just want to rip the bandaid off and get it done as quickly as possible.  But we believe that estate planning is "cool", and can actually be an empowering and uplifting process - as long as you are open to the process and willing to ask the tough questions. 
In this episode, we break down what you need to know about: (1) foundational estate planning documents (i.e., what is the difference between a Will, a Power of Attorney, and a health care directive, and what should you know about beneficiary designations on life insurance policies and investments) [14:30]; (2) how "fair" does not always mean "equal" in estate planning [31:31]; and (3) a discussion about what retirement planning should really entail, and how collaboration amongst your advisors can make all the difference in getting peace of mind during the planning process [34:17]. 

Mehul and I have the same goal when working with clients on the estate planning process - we want you to be able to sit down with your friends at the end of our meetings and be able to explain your "plan".  You deserve to know what you own, and how those assets can be used for a comfortable retirement!

If you are struggling with how to "start" working on your estate planning, then this episode is for you!

RESOURCES DISCUSSED ON THE EPISODE:

  • "All-in with Chamath, Jason, Sacks, & Friedberg" Podcast: https://podcasts.apple.com/us/podcast/all-in-with-chamath-jason-sacks-friedberg/id1502871393

MORE FROM MEHUL:

MORE FROM AMANDA:

]]> Mehul and I met through social media almost a year ago - he is a financial planner and business owner that also believes in the power of collaboration, and promotes the importance of building your "team".  He also happens to be a fellow podcaster, and so we decided it would fun to hook up our fancy microphones and record one of our chats!

We recognize that "estate planning" can seem very overwhelming.  It is hard to know where to start, and often we just want to rip the bandaid off and get it done as quickly as possible.  But we believe that estate planning is "cool", and can actually be an empowering and uplifting process - as long as you are open to the process and willing to ask the tough questions. 
In this episode, we break down what you need to know about: (1) foundational estate planning documents (i.e., what is the difference between a Will, a Power of Attorney, and a health care directive, and what should you know about beneficiary designations on life insurance policies and investments) [14:30]; (2) how "fair" does not always mean "equal" in estate planning [31:31]; and (3) a discussion about what retirement planning should really entail, and how collaboration amongst your advisors can make all the difference in getting peace of mind during the planning process [34:17]. 

Mehul and I have the same goal when working with clients on the estate planning process - we want you to be able to sit down with your friends at the end of our meetings and be able to explain your "plan".  You deserve to know what you own, and how those assets can be used for a comfortable retirement!

If you are struggling with how to "start" working on your estate planning, then this episode is for you!

RESOURCES DISCUSSED ON THE EPISODE:

  • "All-in with Chamath, Jason, Sacks, & Friedberg" Podcast: https://podcasts.apple.com/us/podcast/all-in-with-chamath-jason-sacks-friedberg/id1502871393

MORE FROM MEHUL:

MORE FROM AMANDA:

]]> Thu, 25 Nov 2021 07:00:00 -0600 Amanda Doucette Amanda Doucette 3371 This is another cross-over episode of The Tax Chick Podcast - this time featuring the host of "The Mind Your Biz Podcast", financial advisor, Mehul Gandhi! This is another cross-over episode of The Tax Chick Podcast - this time featuring the host of "The Mind Your Biz Podcast", financial advisor, Mehul Gandhi! tax, business, entrepreneur, finance No Cross-Over Episode with Break into Tax! 2 2 11 11 Cross-Over Episode with Break into Tax! full 034991b9-5987-48f6-9b2d-f3a83977c1fd https://share.transistor.fm/s/d64be0d8 Tax professionals are a lot of fun.  Really, we are!  One of the common themes that runs through almost every conversation I have with another tax professional is how much we love what we do.  We also have a great sense of humour and are curious about the world around us.  This episode of The Tax Chick Podcast is my first ever cross-over episode – and I am excited to introduce you to my special guest, Leandra Lederman – who also happens to be one of two faces behind the amazing YouTube series, “Break into Tax”.  She is running Season 2 of that series.  Leandra and I chat all about why we love the practice of tax (3:53), what it is like to be a woman in tax (9:14), and we give a sneak peek of what you can expect from The Tax Chick Podcast, and “Break into Tax” as we head into next season (24:15).  Check out the Break Into Tax video of this episode at https://youtu.be/KBPhmBr-7Bk. 

 

RESOURCES DISCUSSED ON THE EPISODE:

MORE FROM LEANDRA:

MORE FROM AMANDA:

 

]]> Tax professionals are a lot of fun.  Really, we are!  One of the common themes that runs through almost every conversation I have with another tax professional is how much we love what we do.  We also have a great sense of humour and are curious about the world around us.  This episode of The Tax Chick Podcast is my first ever cross-over episode – and I am excited to introduce you to my special guest, Leandra Lederman – who also happens to be one of two faces behind the amazing YouTube series, “Break into Tax”.  She is running Season 2 of that series.  Leandra and I chat all about why we love the practice of tax (3:53), what it is like to be a woman in tax (9:14), and we give a sneak peek of what you can expect from The Tax Chick Podcast, and “Break into Tax” as we head into next season (24:15).  Check out the Break Into Tax video of this episode at https://youtu.be/KBPhmBr-7Bk. 

 

RESOURCES DISCUSSED ON THE EPISODE:

MORE FROM LEANDRA:

MORE FROM AMANDA:

 

]]> Thu, 14 Oct 2021 07:00:00 -0500 Amanda Doucette Amanda Doucette 2084 Tax professionals are a lot of fun.  Really, we are!  One of the common themes that runs through almost every conversation I have with another tax professional is how much we love what we do.  We also have a great sense of humour and are curious about the world around us.  This episode of The Tax Chick Podcast is my first ever cross-over episode – and I am excited to introduce you to my special guest, Leandra Lederman – who also happens to be one of two faces behind the amazing YouTube series, “Break into Tax”.  She is running Season 2 of that series.  Leandra and I chat all about why we love the practice of tax (3:53), what it is like to be a woman in tax (9:14), and we give a sneak peek of what you can expect from The Tax Chick Podcast, and “Break into Tax” as we head into next season (24:15).  Check out the Break Into Tax video of this episode at https://youtu.be/KBPhmBr-7Bk. 

 

RESOURCES DISCUSSED ON THE EPISODE:

MORE FROM LEANDRA:

MORE FROM AMANDA:

 

]]> tax, business, entrepreneur, finance No Estate Planning 101 with Christine van Cauwenberghe 2 2 10 10 Estate Planning 101 with Christine van Cauwenberghe full a9087b51-8d55-4e43-8ce0-addff809603b https://share.transistor.fm/s/75d55d98 Do you have a will?  If yes, when was the last time you dusted it off?  Do you know who is designated as a beneficiary on your insurance policies and/or your investments?  Estate planning is not something to be taken lightly - getting some advice on the front end, can make all the difference for a smooth administration after your death.

Today, I am joined by special guest, Christine van Cauwenberghe, Vice-President of Tax and Estate Planning (IG Wealth Management).  We break down what you need to know about three main topics: (1) the do's and don'ts of beneficiary designations (7:15), (2) things to watch for with joint ownership (24:01), and (3) how to deal with the "big" tax - the income tax liability on death - and why it is more important to worry about than probate fees (33:45).  We also do a bit of "lawyer math" :) and highlight some key questions that you should be asking your advisors.

RESOURCES DISCUSSED ON THE EPISODE

  • New York Times - "The Daily": https://www.nytimes.com/column/the-daily.
  • Wealth Planning Strategies for Canadians (15th Edition): https://store.thomsonreuters.ca/en-ca/products/wealth-planning-strategies-for-canadians-2021-30908506 


MORE FROM CHRISTINE:

  • Website:  https://www.igprivatewealth.com/en/about-us/christine-van-cauwenberghe
  • LinkedIn: https://www.linkedin.com/in/christine-van-cauwenberghe-28829913/

MORE FROM AMANDA


]]> Do you have a will?  If yes, when was the last time you dusted it off?  Do you know who is designated as a beneficiary on your insurance policies and/or your investments?  Estate planning is not something to be taken lightly - getting some advice on the front end, can make all the difference for a smooth administration after your death.

Today, I am joined by special guest, Christine van Cauwenberghe, Vice-President of Tax and Estate Planning (IG Wealth Management).  We break down what you need to know about three main topics: (1) the do's and don'ts of beneficiary designations (7:15), (2) things to watch for with joint ownership (24:01), and (3) how to deal with the "big" tax - the income tax liability on death - and why it is more important to worry about than probate fees (33:45).  We also do a bit of "lawyer math" :) and highlight some key questions that you should be asking your advisors.

RESOURCES DISCUSSED ON THE EPISODE

  • New York Times - "The Daily": https://www.nytimes.com/column/the-daily.
  • Wealth Planning Strategies for Canadians (15th Edition): https://store.thomsonreuters.ca/en-ca/products/wealth-planning-strategies-for-canadians-2021-30908506 


MORE FROM CHRISTINE:

  • Website:  https://www.igprivatewealth.com/en/about-us/christine-van-cauwenberghe
  • LinkedIn: https://www.linkedin.com/in/christine-van-cauwenberghe-28829913/

MORE FROM AMANDA


]]> Thu, 09 Sep 2021 07:00:00 -0500 Amanda Doucette Amanda Doucette 2892 Do you have a will? If yes, when was the last time you dusted it off? Do you know who is designated as a beneficiary on your insurance policies and/or your investments? Estate planning is not something to be taken lightly - getting some advice on the front end, can make all the difference for a smooth administration after your death. Do you have a will? If yes, when was the last time you dusted it off? Do you know who is designated as a beneficiary on your insurance policies and/or your investments? Estate planning is not something to be taken lightly - getting some advice on the f tax, business, entrepreneur, finance No Insurance 101 with special guests Jerry Gedir and Tracy Duff 2 2 9 9 Insurance 101 with special guests Jerry Gedir and Tracy Duff full 4f140cd3-0fa5-4148-9582-ce50993245c9 https://share.transistor.fm/s/de7ca158 How much do you really know about insurance?  Do you know the difference between life insurance, disability insurance, and critical illness insurance?  Do you think of insurance as a waste of money?  

Are you an advisor that avoids talking to your client about insurance because you do not quite understand the options available or when insurance may be helpful?

Jerry and Tracy break down what you need to know about insurance products – including when insurance may be the “solution” to a problem.  This episode is a must listen for new business owners who are wondering whether insurance is really all that important.  (Hint:  It is 😊).  Join us as we discuss: (1) Life insurance – the difference between term insurance and permanent insurance products, and how a joint last to die policy may be useful in certain situations (9:40); (2) Disability Insurance – how it is taxed and what types are available (26:36); and (3) Critical Illness Insurance – why this is an often over-looked insurance product that can actually come in handy in your business (39:01).


RESOURCES DISCUSSED ON THE EPISODE:

·         Greg McKeown “What’s Essential” Podcast - https://gregmckeown.com/podcast/ 

·         Simon Sinek - https://simonsinek.com/

·         Strategic Coach Podcasts - https://resources.strategiccoach.com/podcasts

MORE FROM JERRY:

·         Website: https://continuity.ca/

·         Email: jgedir@continuity.ca

·         LinkedIn: https://www.linkedin.com/in/jerry-gedir-94b5a617/?originalSubdomain=ca

MORE FROM TRACY:

·         Website:https://skyeplanning.com/

·         Email:tracy@skyeplanning.com

·         LinkedIn: https://www.linkedin.com/in/tracylduffcfptep/

·         Twitter: @SkyeDuff 

·         Facebook:https://www.facebook.com/SkyePlanning/


MORE FROM AMANDA

·         The Tax Chick Blog - https://taxchickca.wordpress.com; 

·         Connect with me by email: thetaxchickpodcast@gmail.com

·         LinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ 

·         Instagram: @tax.chick

]]> How much do you really know about insurance?  Do you know the difference between life insurance, disability insurance, and critical illness insurance?  Do you think of insurance as a waste of money?  

Are you an advisor that avoids talking to your client about insurance because you do not quite understand the options available or when insurance may be helpful?

Jerry and Tracy break down what you need to know about insurance products – including when insurance may be the “solution” to a problem.  This episode is a must listen for new business owners who are wondering whether insurance is really all that important.  (Hint:  It is 😊).  Join us as we discuss: (1) Life insurance – the difference between term insurance and permanent insurance products, and how a joint last to die policy may be useful in certain situations (9:40); (2) Disability Insurance – how it is taxed and what types are available (26:36); and (3) Critical Illness Insurance – why this is an often over-looked insurance product that can actually come in handy in your business (39:01).


RESOURCES DISCUSSED ON THE EPISODE:

·         Greg McKeown “What’s Essential” Podcast - https://gregmckeown.com/podcast/ 

·         Simon Sinek - https://simonsinek.com/

·         Strategic Coach Podcasts - https://resources.strategiccoach.com/podcasts

MORE FROM JERRY:

·         Website: https://continuity.ca/

·         Email: jgedir@continuity.ca

·         LinkedIn: https://www.linkedin.com/in/jerry-gedir-94b5a617/?originalSubdomain=ca

MORE FROM TRACY:

·         Website:https://skyeplanning.com/

·         Email:tracy@skyeplanning.com

·         LinkedIn: https://www.linkedin.com/in/tracylduffcfptep/

·         Twitter: @SkyeDuff 

·         Facebook:https://www.facebook.com/SkyePlanning/


MORE FROM AMANDA

·         The Tax Chick Blog - https://taxchickca.wordpress.com; 

·         Connect with me by email: thetaxchickpodcast@gmail.com

·         LinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ 

·         Instagram: @tax.chick

]]> Thu, 26 Aug 2021 07:00:00 -0500 Amanda Doucette Amanda Doucette 2788 How much do you really know about insurance?  Do you know the difference between life insurance, disability insurance, and critical illness insurance?  Do you think of insurance as a waste of money?  

Are you an advisor that avoids talking to your client about insurance because you do not quite understand the options available or when insurance may be helpful?

Jerry and Tracy break down what you need to know about insurance products – including when insurance may be the “solution” to a problem.  This episode is a must listen for new business owners who are wondering whether insurance is really all that important.  (Hint:  It is 😊).  Join us as we discuss: (1) Life insurance – the difference between term insurance and permanent insurance products, and how a joint last to die policy may be useful in certain situations (9:40); (2) Disability Insurance – how it is taxed and what types are available (26:36); and (3) Critical Illness Insurance – why this is an often over-looked insurance product that can actually come in handy in your business (39:01).


RESOURCES DISCUSSED ON THE EPISODE:

·         Greg McKeown “What’s Essential” Podcast - https://gregmckeown.com/podcast/ 

·         Simon Sinek - https://simonsinek.com/

·         Strategic Coach Podcasts - https://resources.strategiccoach.com/podcasts

MORE FROM JERRY:

·         Website: https://continuity.ca/

·         Email: jgedir@continuity.ca

·         LinkedIn: https://www.linkedin.com/in/jerry-gedir-94b5a617/?originalSubdomain=ca

MORE FROM TRACY:

·         Website:https://skyeplanning.com/

·         Email:tracy@skyeplanning.com

·         LinkedIn: https://www.linkedin.com/in/tracylduffcfptep/

·         Twitter: @SkyeDuff 

·         Facebook:https://www.facebook.com/SkyePlanning/


MORE FROM AMANDA

·         The Tax Chick Blog - https://taxchickca.wordpress.com; 

·         Connect with me by email: thetaxchickpodcast@gmail.com

·         LinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ 

·         Instagram: @tax.chick

]]> tax, business, entrepreneur, finance No Incorporation 101 - tackling some of the myths surrounding incorporation, with special guest Phil Guenther 2 2 8 8 Incorporation 101 - tackling some of the myths surrounding incorporation, with special guest Phil Guenther full 30d11668-0789-47fb-bfc7-4c12b064a88c https://share.transistor.fm/s/b9fc68bf The issue of "when should I incorporate?" is one of the most common questions I get asked by business owners.  So it seemed only fitting to devote the entire month of July... and two podcast episodes.... to the topic.

On this episode of The Tax Chick Podcast, I am catching up with my friend Phil.  We completed the CPA In-Depth Tax Course together and Phil is always down to nerd out on tax topics.

Phil and I discuss: (1) What is the difference between a sole proprietorship and a corporation? (14:02) (2) How do you know when it is time to incorporate? (22:40) and (3) Once you have incorporated, what should you keep in mind? (34:45)

RESOURCES DISCUSSED ON THE EPISODE:

  • The Dead Pilots Society Podcast: https://maximumfun.org/podcasts/dead-pilots-society/ 

MORE FROM PHIL:

MORE FROM AMANDA


]]> The issue of "when should I incorporate?" is one of the most common questions I get asked by business owners.  So it seemed only fitting to devote the entire month of July... and two podcast episodes.... to the topic.

On this episode of The Tax Chick Podcast, I am catching up with my friend Phil.  We completed the CPA In-Depth Tax Course together and Phil is always down to nerd out on tax topics.

Phil and I discuss: (1) What is the difference between a sole proprietorship and a corporation? (14:02) (2) How do you know when it is time to incorporate? (22:40) and (3) Once you have incorporated, what should you keep in mind? (34:45)

RESOURCES DISCUSSED ON THE EPISODE:

  • The Dead Pilots Society Podcast: https://maximumfun.org/podcasts/dead-pilots-society/ 

MORE FROM PHIL:

MORE FROM AMANDA


]]> Thu, 22 Jul 2021 07:00:00 -0500 Amanda Doucette Amanda Doucette 2995 In this episode, I continue the conversation about "incorporation" - join my friend Phil and I as we discuss some of the myths surrounding incorporation, and provide you with some "markers" to look for prior to making the leap! In this episode, I continue the conversation about "incorporation" - join my friend Phil and I as we discuss some of the myths surrounding incorporation, and provide you with some "markers" to look for prior to making the leap! tax, business, entrepreneur, finance No Should I incorporate? A candid conversation with business owner, Erin Romeo, about her journey to incorporation 2 2 7 7 Should I incorporate? A candid conversation with business owner, Erin Romeo, about her journey to incorporation full 8a98cfc5-abe3-4a23-a632-f532930a1f5f https://share.transistor.fm/s/7726db01 I decided to dedicate the month of July to a discussion about incorporation - starting with a conversation with my friend, Erin Romeo - founder and principal strategist at Pivot Turn Consulting.


Erin shares her personal story of her journey to incorporation - from her time as a litigation lawyer, to creating her own business.   We talk about the tax advantages to incorporation (6:15) as well as the “tax-adjacent” issues you need to keep in mind (i.e., think cash flow!), and we also discuss what it takes to actually incorporate, and the importance of involving advisors early on (16:58).  Finally, Erin shares with us what it means to have a dynamic decision-making model for your business (25:37).


RESOURCES DISCUSSED ON THE EPISODE


MORE FROM ERIN:

MORE FROM AMANDA

]]> I decided to dedicate the month of July to a discussion about incorporation - starting with a conversation with my friend, Erin Romeo - founder and principal strategist at Pivot Turn Consulting.


Erin shares her personal story of her journey to incorporation - from her time as a litigation lawyer, to creating her own business.   We talk about the tax advantages to incorporation (6:15) as well as the “tax-adjacent” issues you need to keep in mind (i.e., think cash flow!), and we also discuss what it takes to actually incorporate, and the importance of involving advisors early on (16:58).  Finally, Erin shares with us what it means to have a dynamic decision-making model for your business (25:37).


RESOURCES DISCUSSED ON THE EPISODE


MORE FROM ERIN:

MORE FROM AMANDA

]]> Thu, 08 Jul 2021 07:00:00 -0500 Amanda Doucette Amanda Doucette 2258 The #1 question I get asked by business owners is, "Should I incorporate?" My answer, "It depends." On this episode of the podcast, Erin and I chat about her journey to incorporation - including a candid discussion on overcoming some of the fears that almost stopped her from taking the leap. The #1 question I get asked by business owners is, "Should I incorporate?" My answer, "It depends." On this episode of the podcast, Erin and I chat about her journey to incorporation - including a candid discussion on overcoming some of the fears that tax, business, entrepreneur, finance No We are all in this together - learn to face taxes head on! (with special guest, Lisa Niser) 2 2 6 6 We are all in this together - learn to face taxes head on! (with special guest, Lisa Niser) full cd95c284-ce6d-4ffc-b869-eaa43ae98875 https://share.transistor.fm/s/11ab1cbf It is 3 days before the tax filing deadline.  You are scrambling around your house, gathering up boxes and random pieces of paper.  You rush down to the office of the accountants who prepared your tax return last time and leave your documents at the front desk asking for anyone to just get your tax return done.  You get an email from the firm providing a copy of your return and promptly delete it.   It is probably correct - they know what they are doing, right?  And besides, you do not understand those forms anyway!

Does this sound like you?

If yes, it's ok.  We have all been there.  On today's episode of the podcast, I am chatting with fellow tax chick, Lisa Niser.  Lisa is a tax accountant from Chicago - and she is working to change the way that you think about your relationship with your accountant.  What if things did not have to look like the scenario described above?  What if your accountant did more than just file your tax returns?  What if they were also a trusted business advisor for you?  My friends - this is possible. 

On today's episode, Lisa and I chat about the basic things you need to know about the tax system (6:50) and common questions that cause stress to new entrepreneurs (18:33).  We also discuss a new project that Lisa has been working on - providing education and support to lawyers who are entering into partnership (33:34).  This episode is applicable to all taxpayers - whether business owners or individuals - and regardless of whether you live in Canada or the US.  Join us for a "fun" conversation about tax!

Check out Lisa's LinkedIn account for a great series of posts on how to read your tax return.   On the Canadian side, I did a series of blog posts in March/April 2021 on how to read your Canadian tax return - I encourage you to check out these resources!

RESOURCES DISCUSSED ON THE EPISODE


MORE FROM LISA:

MORE FROM AMANDA

]]> It is 3 days before the tax filing deadline.  You are scrambling around your house, gathering up boxes and random pieces of paper.  You rush down to the office of the accountants who prepared your tax return last time and leave your documents at the front desk asking for anyone to just get your tax return done.  You get an email from the firm providing a copy of your return and promptly delete it.   It is probably correct - they know what they are doing, right?  And besides, you do not understand those forms anyway!

Does this sound like you?

If yes, it's ok.  We have all been there.  On today's episode of the podcast, I am chatting with fellow tax chick, Lisa Niser.  Lisa is a tax accountant from Chicago - and she is working to change the way that you think about your relationship with your accountant.  What if things did not have to look like the scenario described above?  What if your accountant did more than just file your tax returns?  What if they were also a trusted business advisor for you?  My friends - this is possible. 

On today's episode, Lisa and I chat about the basic things you need to know about the tax system (6:50) and common questions that cause stress to new entrepreneurs (18:33).  We also discuss a new project that Lisa has been working on - providing education and support to lawyers who are entering into partnership (33:34).  This episode is applicable to all taxpayers - whether business owners or individuals - and regardless of whether you live in Canada or the US.  Join us for a "fun" conversation about tax!

Check out Lisa's LinkedIn account for a great series of posts on how to read your tax return.   On the Canadian side, I did a series of blog posts in March/April 2021 on how to read your Canadian tax return - I encourage you to check out these resources!

RESOURCES DISCUSSED ON THE EPISODE


MORE FROM LISA:

MORE FROM AMANDA

]]> Thu, 10 Jun 2021 07:00:00 -0500 Amanda Doucette Amanda Doucette 2831 Let's be honest. Tax season is not a fun time of year. Rushing to get your paperwork organized. Fingers crossed that you do not owe a huge sum of money to the government... but what if it did not have to be such a stressful time? Join me, and my guest, Lisa Niser, as we break down what you need to know about the tax system and how you can become a more active participant in your tax filing journey. Let's be honest. Tax season is not a fun time of year. Rushing to get your paperwork organized. Fingers crossed that you do not owe a huge sum of money to the government... but what if it did not have to be such a stressful time? Join me, and my guest tax, business, entrepreneur, finance No Death and Taxes (with Shruthi Raman and Vivek Swaminathan) 2 2 5 5 Death and Taxes (with Shruthi Raman and Vivek Swaminathan) full fc2ef922-2efb-4d24-9db3-cb7eb659e09b https://share.transistor.fm/s/5762a250 "Nothing is certain except death and taxes."

There are many misconceptions about what happens to your assets when you die.  There is also a lot of fear.  The best way to conquer fear is to face it head on! So join me and my special guests, Shruthi and Vivek - a lawyer and an accountant, who happen to also be married - as we break down what you need to know about death and taxes.  We discuss what tax has to be paid when you die (13:10), what documentation you need to gather if you are an executor of an estate (24:07), we break down what "probate" really is (25:03), and we talk about what you need to know if your estate will include assets from different countries (37:30).

If you have been appointed as an executor of an estate, and/or if you are starting to think about your own estate planning, check out this episode for some great foundational information!

RESOURCES DISCUSSED ON THE EPISODE

  • IdeaCast Podcast (Harvard Business Review): https://hbr.org/2018/01/podcast-ideacast
  • The Steam Room Podcast: https://podcasts.apple.com/us/podcast/the-steam-room/id1490924360
  • Information on Probate in Saskatchewan: https://www.plea.org/death-estates/estate/letters-probate
  • Information on Probate in Ontario:  https://www.attorneygeneral.jus.gov.on.ca/english/estates/how_to_apply_for_probate.php

MORE FROM SHRUTHI AND VIVEK

  • Shruthi: https://www.linkedin.com/in/shruthi-raman-16066b19/
  • Vivek: https://www.linkedin.com/in/vivek-swaminathan-95a04118/ 

MORE FROM AMANDA

]]> "Nothing is certain except death and taxes."

There are many misconceptions about what happens to your assets when you die.  There is also a lot of fear.  The best way to conquer fear is to face it head on! So join me and my special guests, Shruthi and Vivek - a lawyer and an accountant, who happen to also be married - as we break down what you need to know about death and taxes.  We discuss what tax has to be paid when you die (13:10), what documentation you need to gather if you are an executor of an estate (24:07), we break down what "probate" really is (25:03), and we talk about what you need to know if your estate will include assets from different countries (37:30).

If you have been appointed as an executor of an estate, and/or if you are starting to think about your own estate planning, check out this episode for some great foundational information!

RESOURCES DISCUSSED ON THE EPISODE

  • IdeaCast Podcast (Harvard Business Review): https://hbr.org/2018/01/podcast-ideacast
  • The Steam Room Podcast: https://podcasts.apple.com/us/podcast/the-steam-room/id1490924360
  • Information on Probate in Saskatchewan: https://www.plea.org/death-estates/estate/letters-probate
  • Information on Probate in Ontario:  https://www.attorneygeneral.jus.gov.on.ca/english/estates/how_to_apply_for_probate.php

MORE FROM SHRUTHI AND VIVEK

  • Shruthi: https://www.linkedin.com/in/shruthi-raman-16066b19/
  • Vivek: https://www.linkedin.com/in/vivek-swaminathan-95a04118/ 

MORE FROM AMANDA

]]> Thu, 20 May 2021 07:00:00 -0500 Amanda Doucette Amanda Doucette 2824 There are many misconceptions about what happens when you die. There is also a lot of fear. Join me and my special guests Shruthi and Vivek, as we discuss the fundamentals of taxation on death. There are many misconceptions about what happens when you die. There is also a lot of fear. Join me and my special guests Shruthi and Vivek, as we discuss the fundamentals of taxation on death. tax, business, entrepreneur, finance No Financing for Entrepreneurs (with special guest, Candace Hrycan) 2 2 4 4 Financing for Entrepreneurs (with special guest, Candace Hrycan) full 1b491996-fa76-49bd-854e-675ee335baee https://share.transistor.fm/s/71ca323b Cash flow projections.  Key Performance Indicators. Working Capital. Business Plans. Credit Scores.


If you are a business owner, you need to know and understand what these phrases mean for you and your business.  But, let’s face it - most of us do not enjoy pouring over spreadsheets and looking at numbers.  Do not fear - my friend Candace Hrycan is here to break it down for you!  Candace has over a decade of experience in the commercial banking world - in this episode we discuss: (1) What new business owners need to know about business planning, teamwork, and financing; (2) What business owners in the growth phase of their business need to keep in mind in order to maximize their profits and cash flow (27:03); and (3) Credit Scores - how to check your own credit history and how to improve upon a “bad” credit history (45:30).


RESOURCES DISCUSSED ON THE EPISODE

  • Nutrition Facts Podcast:  https://nutritionfacts.org/audio/
  • Respectful Parenting Podcast: https://podcasts.apple.com/us/podcast/respectful-parenting-janet-lansbury-unruffled/id1030050704
  • BDC Resource Hub (including Business Plan Template): https://canadabusinesshub.com/resources/
  • Square One (Saskatchewan Small Business Support): https://squareonesask.ca/
  • Women Entrepreneurs of Saskatchewan: https://wesk.ca/
  • SREDA SK BizGrid (Info on Grants!): https://squareonesask.ca/sk-biz-grid 
  • TransUnion Credit Score: https://www.transunion.ca/1
  • Equifax Canada:  https://www.consumer.equifax.ca/canada/equifax/b_en.html?CID=2_equifax%20canada_M_e&adID=81363922711560&DS3_KIDS=p50851842544&campaignid=71700000061556606&sakwid=43700050851842544&gclid=8032efdf6d401b26347d8fb3df98b652&gclsrc=3p.ds&msclkid=8032efdf6d401b26347d8fb3df98b652&utm_source=bing&utm_medium=cpc&utm_campaign=CA_EN_B_PRSP_BR_Paid_Core_EXM&utm_term=equifax%20canada&utm_content=Core_Brand 
  • BDC Knowledge Performance Indicators (Further information): https://www.bdc.ca/en/articles-tools/blog/achieve-continuous-improvement-with-performance-dash 

MORE FROM CANDACE

MORE FROM AMANDA


]]> Cash flow projections.  Key Performance Indicators. Working Capital. Business Plans. Credit Scores.


If you are a business owner, you need to know and understand what these phrases mean for you and your business.  But, let’s face it - most of us do not enjoy pouring over spreadsheets and looking at numbers.  Do not fear - my friend Candace Hrycan is here to break it down for you!  Candace has over a decade of experience in the commercial banking world - in this episode we discuss: (1) What new business owners need to know about business planning, teamwork, and financing; (2) What business owners in the growth phase of their business need to keep in mind in order to maximize their profits and cash flow (27:03); and (3) Credit Scores - how to check your own credit history and how to improve upon a “bad” credit history (45:30).


RESOURCES DISCUSSED ON THE EPISODE

  • Nutrition Facts Podcast:  https://nutritionfacts.org/audio/
  • Respectful Parenting Podcast: https://podcasts.apple.com/us/podcast/respectful-parenting-janet-lansbury-unruffled/id1030050704
  • BDC Resource Hub (including Business Plan Template): https://canadabusinesshub.com/resources/
  • Square One (Saskatchewan Small Business Support): https://squareonesask.ca/
  • Women Entrepreneurs of Saskatchewan: https://wesk.ca/
  • SREDA SK BizGrid (Info on Grants!): https://squareonesask.ca/sk-biz-grid 
  • TransUnion Credit Score: https://www.transunion.ca/1
  • Equifax Canada:  https://www.consumer.equifax.ca/canada/equifax/b_en.html?CID=2_equifax%20canada_M_e&adID=81363922711560&DS3_KIDS=p50851842544&campaignid=71700000061556606&sakwid=43700050851842544&gclid=8032efdf6d401b26347d8fb3df98b652&gclsrc=3p.ds&msclkid=8032efdf6d401b26347d8fb3df98b652&utm_source=bing&utm_medium=cpc&utm_campaign=CA_EN_B_PRSP_BR_Paid_Core_EXM&utm_term=equifax%20canada&utm_content=Core_Brand 
  • BDC Knowledge Performance Indicators (Further information): https://www.bdc.ca/en/articles-tools/blog/achieve-continuous-improvement-with-performance-dash 

MORE FROM CANDACE

MORE FROM AMANDA


]]> Thu, 08 Apr 2021 07:00:00 -0500 Amanda Doucette Amanda Doucette 3263 Are you curious to learn more about profitability, and planning for the growth of your business? Join me and my guest, Candace Hrycan (BDC), as we break down what you need to know about planning for the future! Are you curious to learn more about profitability, and planning for the growth of your business? Join me and my guest, Candace Hrycan (BDC), as we break down what you need to know about planning for the future! tax, business, entrepreneur, finance No State and Local Taxes 101: with special guest, Jamie Szal :-) (Brann & Isaacson) 2 2 State and Local Taxes 101: with special guest, Jamie Szal :-) (Brann & Isaacson) bonus 187b63e1-3973-4762-bfbf-ffd9b7db1d9e https://share.transistor.fm/s/53aaf9f7 Our society is increasingly relying upon online retail.  The pandemic has only served to further heighten this reliance.  But online sales can attract some complicated tax consequences.  What if your store is based in Vancouver, but you sell to customers in Virginia?  Does it make a difference if your distribution center is solely based in Canada?  Join me, and fellow Tax Chick, Jamie Szal, as we break down what you need to know about state taxes.  


RESOURCES DISCUSSED ON THE EPISODE

MORE FROM JAMIE

  • Website: https://www.brannlaw.com/attorneys/jamie-e-t-szal/
  • LinkedIn:  https://www.linkedin.com/in/jamieszal/

MORE FROM AMANDA

]]> Our society is increasingly relying upon online retail.  The pandemic has only served to further heighten this reliance.  But online sales can attract some complicated tax consequences.  What if your store is based in Vancouver, but you sell to customers in Virginia?  Does it make a difference if your distribution center is solely based in Canada?  Join me, and fellow Tax Chick, Jamie Szal, as we break down what you need to know about state taxes.  


RESOURCES DISCUSSED ON THE EPISODE

MORE FROM JAMIE

  • Website: https://www.brannlaw.com/attorneys/jamie-e-t-szal/
  • LinkedIn:  https://www.linkedin.com/in/jamieszal/

MORE FROM AMANDA

]]> Thu, 25 Mar 2021 07:00:00 -0500 Amanda Doucette Amanda Doucette 3031 This is a special bonus episode of the podcast - featuring special guest and fellow Tax Chick, Jamie Szal. Jamie breaks down the application of state and local taxes to US and Canadian businesses. If you are an e-commerce business, and/or if your business is providing services or products to the United States, then this episode is for you! (Or if you are just generally curious about the federal and state tax system in the US... because tax is fun!!!) This is a special bonus episode of the podcast - featuring special guest and fellow Tax Chick, Jamie Szal. Jamie breaks down the application of state and local taxes to US and Canadian businesses. If you are an e-commerce business, and/or if your busine tax, business, entrepreneur, finance No Sales Tax 101, with special guest, Jordan Brown 2 2 3 3 Sales Tax 101, with special guest, Jordan Brown full 0c138ec6-0a89-4c56-94e8-586bce5bca94 https://share.transistor.fm/s/396c381a Are you a small business owner?  Have you ever struggled with figuring out when/how to file PST and GST/HST returns?  Curious of what to do if you are selling to another province?  What about online sales?


In this episode of The Tax Chick Podcast I am chatting with my new friend, Jordan, who is the owner of Lift Accounting here in Saskatoon.  Jordan regularly assists small business owners with their sales tax needs.   We discuss: (1) What is GST/HST and how does it differ between provinces, including what you need to know if you are providing services out of province (7:30); (2) What is PST and how does it differ between provinces (23:15); and (3) Some filing tips for business owners (36:20).  Join us as we chat about our love for YXE, and of course sales taxes!

UPDATE:  After recording the episode, Jordan was made aware of a new BC PST Bulletin (#001) which sets out the new PST registration requirements for out-of-province businesses who sell to BC customers:  https://www2.gov.bc.ca/assets/gov/taxes/sales-taxes/publications/pst-001-registering-to-collect-pst.pdf.  It appears that the BC Ministry of Finance is requiring out-of-province businesses who have sold more than $10,000 over the past 12 months to BC customers to register for a PST account in BC effective April 1, 2021.  (This new PST registration requirement for BC applies to out-of-province businesses who are not soliciting sales from BC customers but have sold more than $10,000 over the past 12 months.)


RESOURCES DISCUSSED ON THE EPISODE

  • Oneiro Designs: https://www.oneirodesigns.com 
  • Square One Saskatchewan Small Business Support: https://squareonesask.ca/
  • Women Entrepreneurs of Saskatchewan: https://wesk.ca/
  • The GaryVee Podcast: https://www.garyvaynerchuk.com/podcast/ 


MORE FROM JORDAN:

MORE FROM AMANDA

]]> Are you a small business owner?  Have you ever struggled with figuring out when/how to file PST and GST/HST returns?  Curious of what to do if you are selling to another province?  What about online sales?


In this episode of The Tax Chick Podcast I am chatting with my new friend, Jordan, who is the owner of Lift Accounting here in Saskatoon.  Jordan regularly assists small business owners with their sales tax needs.   We discuss: (1) What is GST/HST and how does it differ between provinces, including what you need to know if you are providing services out of province (7:30); (2) What is PST and how does it differ between provinces (23:15); and (3) Some filing tips for business owners (36:20).  Join us as we chat about our love for YXE, and of course sales taxes!

UPDATE:  After recording the episode, Jordan was made aware of a new BC PST Bulletin (#001) which sets out the new PST registration requirements for out-of-province businesses who sell to BC customers:  https://www2.gov.bc.ca/assets/gov/taxes/sales-taxes/publications/pst-001-registering-to-collect-pst.pdf.  It appears that the BC Ministry of Finance is requiring out-of-province businesses who have sold more than $10,000 over the past 12 months to BC customers to register for a PST account in BC effective April 1, 2021.  (This new PST registration requirement for BC applies to out-of-province businesses who are not soliciting sales from BC customers but have sold more than $10,000 over the past 12 months.)


RESOURCES DISCUSSED ON THE EPISODE

  • Oneiro Designs: https://www.oneirodesigns.com 
  • Square One Saskatchewan Small Business Support: https://squareonesask.ca/
  • Women Entrepreneurs of Saskatchewan: https://wesk.ca/
  • The GaryVee Podcast: https://www.garyvaynerchuk.com/podcast/ 


MORE FROM JORDAN:

MORE FROM AMANDA

]]> Thu, 11 Mar 2021 07:00:00 -0600 Amanda Doucette Amanda Doucette 2508 GST... HST... PST... so many acronyms, so little time! If you are a small business owner who has ever felt a little lost about sales taxes, then this episode is for you! GST... HST... PST... so many acronyms, so little time! If you are a small business owner who has ever felt a little lost about sales taxes, then this episode is for you! tax, business, entrepreneur, finance No Where the snowbirds fly - a chat on cross-border tax issues (with special guest, Steven Flynn, Andersen Tax LLP) 2 2 2 2 Where the snowbirds fly - a chat on cross-border tax issues (with special guest, Steven Flynn, Andersen Tax LLP) full 0f34f315-afc0-47fd-9114-07ea6c4439c7 https://share.transistor.fm/s/f2963f32 February in Saskatchewan is cold.  Very cold.  So cold that any sane person would start dreaming about beach houses, and palm trees.  This is why it seems like half our population flies south with the birds to warmer climates.  But this year posed some challenges to our typical migration pattern.  As a result, many Canadians are looking at alternative ways to utilize their vacation property.  But do they truly understand the tax consequences of this decision?  Join me and my guest, Steven Flynn, as we break down the general rules for a Canadian owning US property (10:00), and the additional considerations to keep in mind if you are deciding to rent out or sell your property this year (20:40).  In addition, Steven touches on the death/estate tax implications of owning US property when you die (25:00).  Finally, he tells a funny story about what lengths Canadians go to during the COVID-19 pandemic to complete the sale of their US properties (35:40).  As an added bonus, although Steven currently lives in Vancouver, he was born and raised in Regina, Saskatchewan, and graduated from the University of Saskatchewan - so he gets it.  The cold I mean. And cross-border tax.

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM STEVEN

MORE FROM AMANDA

]]> February in Saskatchewan is cold.  Very cold.  So cold that any sane person would start dreaming about beach houses, and palm trees.  This is why it seems like half our population flies south with the birds to warmer climates.  But this year posed some challenges to our typical migration pattern.  As a result, many Canadians are looking at alternative ways to utilize their vacation property.  But do they truly understand the tax consequences of this decision?  Join me and my guest, Steven Flynn, as we break down the general rules for a Canadian owning US property (10:00), and the additional considerations to keep in mind if you are deciding to rent out or sell your property this year (20:40).  In addition, Steven touches on the death/estate tax implications of owning US property when you die (25:00).  Finally, he tells a funny story about what lengths Canadians go to during the COVID-19 pandemic to complete the sale of their US properties (35:40).  As an added bonus, although Steven currently lives in Vancouver, he was born and raised in Regina, Saskatchewan, and graduated from the University of Saskatchewan - so he gets it.  The cold I mean. And cross-border tax.

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM STEVEN

MORE FROM AMANDA

]]> Thu, 11 Feb 2021 07:00:00 -0600 Amanda Doucette Amanda Doucette 2995 Are you a Canadian who owns property in the US? Because of the border restrictions in 2020, did you decide to rent out your US property this year, or maybe sell it? Do you know the tax consequences of your decision? Join me, and my special guest, Steven Flynn, as we discuss some hot topics in cross-border tax that impact Canadians. Are you a Canadian who owns property in the US? Because of the border restrictions in 2020, did you decide to rent out your US property this year, or maybe sell it? Do you know the tax consequences of your decision? Join me, and my special guest, Steve tax, business, entrepreneur, finance No Choosing the Right Practice Area & Unexpectedly Rewarding Areas of Practice (with special guest, Emily Hirsekorn, Hirsekorn Coaching LLC) 2 2 Choosing the Right Practice Area & Unexpectedly Rewarding Areas of Practice (with special guest, Emily Hirsekorn, Hirsekorn Coaching LLC) bonus 42b74ece-d3df-40d7-8200-ece90124f769 https://share.transistor.fm/s/e2524a41 I have spoken previously about how tax law was not the area where I expected to build my career - yet, it is the place I feel most fulfilled.  In this episode, I chat with lawyer and career coach, Emily Hirsekorn, on how to navigate the many options available to young lawyers starting their careers.  Emily works with both mid-career and emerging lawyers - in this episode, we chat about: (1) how to choose your path (9:05); (2) how to build confidence in yourself and your career choices - hello imposter syndrome! (25:40); and (3) the importance of checking with yourself (41:30).  I have always had a business coach throughout my career, and the advice that Emily provides on this episode is true for new lawyers, but also for those of us who have been practicing for awhile! 

RESOURCES DISCUSSED ON THIS EPISODE

  •  The Confidence Code: https://theconfidencecode.com/ 

MORE FROM EMILY

MORE FROM AMANDA

]]> I have spoken previously about how tax law was not the area where I expected to build my career - yet, it is the place I feel most fulfilled.  In this episode, I chat with lawyer and career coach, Emily Hirsekorn, on how to navigate the many options available to young lawyers starting their careers.  Emily works with both mid-career and emerging lawyers - in this episode, we chat about: (1) how to choose your path (9:05); (2) how to build confidence in yourself and your career choices - hello imposter syndrome! (25:40); and (3) the importance of checking with yourself (41:30).  I have always had a business coach throughout my career, and the advice that Emily provides on this episode is true for new lawyers, but also for those of us who have been practicing for awhile! 

RESOURCES DISCUSSED ON THIS EPISODE

  •  The Confidence Code: https://theconfidencecode.com/ 

MORE FROM EMILY

MORE FROM AMANDA

]]> Thu, 21 Jan 2021 07:00:00 -0600 Amanda Doucette Amanda Doucette 3241 Are you a law student or new lawyer that is struggling to figure out where you fit in the legal world? Do you feel like there are too many options? Do you feel overwhelmed with the decisions you are having to make? Then this episode is for you! I have a chat with lawyer and career coach, Emily Hirsekorn - we talk about building confidence, being open to new opportunities, navigating choices, and the importance of self-reflection. Are you a law student or new lawyer that is struggling to figure out where you fit in the legal world? Do you feel like there are too many options? Do you feel overwhelmed with the decisions you are having to make? Then this episode is for you! I have tax, business, entrepreneur, finance No Flip or Flop? When tax issues and real estate collide - House Flipper Edition (with guest, Anna Malazhavaya of Advotax Law) 2 2 1 1 Flip or Flop? When tax issues and real estate collide - House Flipper Edition (with guest, Anna Malazhavaya of Advotax Law) full 38562b09-e2d8-450d-bd18-5f4ce0abd350 https://share.transistor.fm/s/18749d43 Have you ever thought about buying a house with hopes to re-sell it for a quick profit? Are you a “house flipper”?  Are you a real estate agent looking for a bit more information on the Canadian tax consequences relevant to your clients?  Then this podcast episode is for you!  Join me and fellow Tax Chick, Toronto lawyer, Anna Malazhavaya, as we break down everything you need to know about the “house flipping” in Canada… Well, maybe not everything.  We only have 45 minutes!  We promise to hit the highlights, including: a discussion of why house flippers cannot claim the principal residence exemption (7:52), outlining GST/HST considerations for developers (34:40), and a candid chat on whether paying cash for improvements/renovations on the property really saves you money (22:45).

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM ANNA

MORE FROM AMANDA

]]> Have you ever thought about buying a house with hopes to re-sell it for a quick profit? Are you a “house flipper”?  Are you a real estate agent looking for a bit more information on the Canadian tax consequences relevant to your clients?  Then this podcast episode is for you!  Join me and fellow Tax Chick, Toronto lawyer, Anna Malazhavaya, as we break down everything you need to know about the “house flipping” in Canada… Well, maybe not everything.  We only have 45 minutes!  We promise to hit the highlights, including: a discussion of why house flippers cannot claim the principal residence exemption (7:52), outlining GST/HST considerations for developers (34:40), and a candid chat on whether paying cash for improvements/renovations on the property really saves you money (22:45).

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM ANNA

MORE FROM AMANDA

]]> Thu, 07 Jan 2021 07:00:00 -0600 Amanda Doucette Amanda Doucette 3197 Have you ever thought about buying a house and reselling it for a profit? Do you know what the principal residence exemption is? In this episode, I chat with fellow Tax Chick, Anna Malazhavaya, about the taxation of certain real estate transactions. Have you ever thought about buying a house and reselling it for a profit? Do you know what the principal residence exemption is? In this episode, I chat with fellow Tax Chick, Anna Malazhavaya, about the taxation of certain real estate transactions. tax, business, entrepreneur, finance No Corporate Styling 101: An interview with stylist Melanie Lippman 1 1 Corporate Styling 101: An interview with stylist Melanie Lippman bonus 8f71d718-f854-4c45-a64c-a90ffd7d30b4 https://share.transistor.fm/s/b5fc718b 2020 has been full of challenges and fears.  It has also brought a new way of working to many people - with the introduction of Zoom video calls, and work from home, many people found their work life turned upside down.  I like to think of myself as an adaptable person, but I also struggled this year with all the changes that happened.  I have always loved fashion - but over the weeks that I started to work from home, I found myself wearing leggings and yoga gear far too often.  When I had to go into the office, I would wear “work attire” and instantly feel more professional and polished.  Over the summer, I had been watching LinkedIn posts from New York stylist, Melanie Lippman.  I eventually joined her “Stand Out Style” group (which is made up of female lawyers from across North America) - this group fundamentally changed my relationship with style.  Not only did I learn so much about how to dress and take care of myself in this new environment, but I also got to connect with other female lawyers and start to break down some of the barriers to personal style that have been created in our profession over the years. 

If you are feeling stressed out about appearing on video, or have struggled with showcasing your personal style in a corporate setting, then this episode is for you!

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM MELANIE

MORE FROM AMANDA

]]> 2020 has been full of challenges and fears.  It has also brought a new way of working to many people - with the introduction of Zoom video calls, and work from home, many people found their work life turned upside down.  I like to think of myself as an adaptable person, but I also struggled this year with all the changes that happened.  I have always loved fashion - but over the weeks that I started to work from home, I found myself wearing leggings and yoga gear far too often.  When I had to go into the office, I would wear “work attire” and instantly feel more professional and polished.  Over the summer, I had been watching LinkedIn posts from New York stylist, Melanie Lippman.  I eventually joined her “Stand Out Style” group (which is made up of female lawyers from across North America) - this group fundamentally changed my relationship with style.  Not only did I learn so much about how to dress and take care of myself in this new environment, but I also got to connect with other female lawyers and start to break down some of the barriers to personal style that have been created in our profession over the years. 

If you are feeling stressed out about appearing on video, or have struggled with showcasing your personal style in a corporate setting, then this episode is for you!

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM MELANIE

MORE FROM AMANDA

]]> Fri, 18 Dec 2020 07:00:00 -0600 Amanda Doucette Amanda Doucette 2578 This podcast is about tax. But it is also about my life as a tax lawyer. In this bonus episode, I have a chat with New York stylist Melanie Lippman about how to navigate the new world of video calls and how to break down the barriers to personal style that have been created in our profession over the years. This podcast is about tax. But it is also about my life as a tax lawyer. In this bonus episode, I have a chat with New York stylist Melanie Lippman about how to navigate the new world of video calls and how to break down the barriers to personal style t tax, business, entrepreneur, finance No An interview with a financial planner (with special guest, Janea Dieno) 1 1 7 7 An interview with a financial planner (with special guest, Janea Dieno) full 7dd22e55-2a8a-4695-bf14-113b003e4134 https://share.transistor.fm/s/7551651a I stumbled across Janea a number of years ago following my divorce.  I was feeling a bit scared, and financially unprepared for my new life.  Lawyers typically do not have a built-in pension plan/investment plan through work - and we are really good at giving advice to our clients about financial stability, but often forget to implement this advice for ourselves.  I am so grateful that I got to know Janea and now have her as a part of my personal financial team.  


Janea and I have something in common.  We both believe that clients need to be empowered to make financial decisions for themselves - and that discussions about tax and finances do not always have to be so complicated!  In this episode, we let you eavesdrop on our conversation - we will be exploring what it means to be a financial planner (8:30), how to choose a planner that is right for you, and will discuss the difference between an RRSP, a TFSA, and a non-registered account, including how these various investment vehicles are taxed (36:27).  Finally, we explore the exciting world of "segregated funds" (44:15).  Want to have something smart to say on your next Zoom call with friends?  Then, you need to listen to this episode!

RESOURCES DISCUSSED ON THE EPISODE


MORE FROM JANEA

MORE FROM AMANDA

]]> I stumbled across Janea a number of years ago following my divorce.  I was feeling a bit scared, and financially unprepared for my new life.  Lawyers typically do not have a built-in pension plan/investment plan through work - and we are really good at giving advice to our clients about financial stability, but often forget to implement this advice for ourselves.  I am so grateful that I got to know Janea and now have her as a part of my personal financial team.  


Janea and I have something in common.  We both believe that clients need to be empowered to make financial decisions for themselves - and that discussions about tax and finances do not always have to be so complicated!  In this episode, we let you eavesdrop on our conversation - we will be exploring what it means to be a financial planner (8:30), how to choose a planner that is right for you, and will discuss the difference between an RRSP, a TFSA, and a non-registered account, including how these various investment vehicles are taxed (36:27).  Finally, we explore the exciting world of "segregated funds" (44:15).  Want to have something smart to say on your next Zoom call with friends?  Then, you need to listen to this episode!

RESOURCES DISCUSSED ON THE EPISODE


MORE FROM JANEA

MORE FROM AMANDA

]]> Thu, 10 Dec 2020 07:00:00 -0600 Amanda Doucette Amanda Doucette 3397 Are you curious about what a financial advisor does, and whether you need one? Are you curious about what a financial advisor does, and whether you need one? tax, business, entrepreneur, finance No The headaches and triumps of a small business owner, with Holly Decker 1 1 6 6 The headaches and triumps of a small business owner, with Holly Decker full f08fdf6f-6297-4ac9-97d8-9ccfb750a1cd https://share.transistor.fm/s/07d5ae33 Are you curious about what it is like to be an entrepreneur?  Join me and one of my BFFs, Holly Decker (owner and operator of Holly Decker Makeup Artistry), as we discuss the highs and lows of entrepreneurship.  Topics include: (1) The road to entrepreneurship - how did Holly know that she wanted to own her own business (22:50); (2) Finances and taxes - what are some of the “headaches” involved in running your own business, and some tips and tricks for overcoming these roadblocks (26:38); and (3) New beginnings - how to ensure your business embraces change in order to stay relevant, while still being true to who you are (35:10). 

RESOURCES DISCUSSED ON THE EPISODE

The Well Collaborative: https://www.thewellcollaborative.com/

Women Entrepreneurs of Saskatchewan: https://wesk.ca/


MORE FROM HOLLY


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]]> Are you curious about what it is like to be an entrepreneur?  Join me and one of my BFFs, Holly Decker (owner and operator of Holly Decker Makeup Artistry), as we discuss the highs and lows of entrepreneurship.  Topics include: (1) The road to entrepreneurship - how did Holly know that she wanted to own her own business (22:50); (2) Finances and taxes - what are some of the “headaches” involved in running your own business, and some tips and tricks for overcoming these roadblocks (26:38); and (3) New beginnings - how to ensure your business embraces change in order to stay relevant, while still being true to who you are (35:10). 

RESOURCES DISCUSSED ON THE EPISODE

The Well Collaborative: https://www.thewellcollaborative.com/

Women Entrepreneurs of Saskatchewan: https://wesk.ca/


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]]> Thu, 12 Nov 2020 07:00:00 -0600 Amanda Doucette Amanda Doucette 3180 Entrepreneurship can be a wild ride sometimes - join me, and my BFF, Holly Decker, as we break down the good and the scary parts of starting your own business. Entrepreneurship can be a wild ride sometimes - join me, and my BFF, Holly Decker, as we break down the good and the scary parts of starting your own business. tax, business, entrepreneur, finance No Tax Litigation 101, with Sophie Virji 1 1 5 5 Tax Litigation 101, with Sophie Virji full a61f7c98-6b03-4f3c-a335-c1f6e93a8e7d https://share.transistor.fm/s/eb0314c4 Do you break into a cold sweat just thinking about receiving the dreaded brown envelope from Canada Revenue Agency?  What would you do if you received a call letting you know you had been chosen for an audit?  Join me and my guest, fellow Tax Chick, Sophie Virji as we break down as we break down how to navigate the Canadian tax system.  Topics of discussion include: (1) the audit - how to prepare for it, and the scope of audit powers (12:12); (2) the internal appeals process - how to file a Notice of Objection (42:01); and (3) a brief overview of appeals to the Tax Court of Canada (55:00). 

RESOURCES DISCUSSED ON THE EPISODE

  • Podcast Suggestion from Sophie:  

Oprah’s SuperSoul Conversations:
https://podcasts.apple.com/us/podcast/oprahs-supersoul-conversations/id1264843400


MORE FROM SOPHIE:


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]]> Do you break into a cold sweat just thinking about receiving the dreaded brown envelope from Canada Revenue Agency?  What would you do if you received a call letting you know you had been chosen for an audit?  Join me and my guest, fellow Tax Chick, Sophie Virji as we break down as we break down how to navigate the Canadian tax system.  Topics of discussion include: (1) the audit - how to prepare for it, and the scope of audit powers (12:12); (2) the internal appeals process - how to file a Notice of Objection (42:01); and (3) a brief overview of appeals to the Tax Court of Canada (55:00). 

RESOURCES DISCUSSED ON THE EPISODE

  • Podcast Suggestion from Sophie:  

Oprah’s SuperSoul Conversations:
https://podcasts.apple.com/us/podcast/oprahs-supersoul-conversations/id1264843400


MORE FROM SOPHIE:


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]]> Thu, 08 Oct 2020 07:00:00 -0500 Amanda Doucette Amanda Doucette 3828 In this episode, Sophie and I discuss all aspects of the tax resolution process - right from the initial audit, all the way through to an appeal to the Tax Court of Canada. In this episode, Sophie and I discuss all aspects of the tax resolution process - right from the initial audit, all the way through to an appeal to the Tax Court of Canada. tax, business, entrepreneur, finance No A candid discussion on business structures, with guest Jared Pilon 1 1 4 4 A candid discussion on business structures, with guest Jared Pilon full dfed9d0c-c539-4e12-9a22-0247eb5183bb https://share.transistor.fm/s/ac78553e Do you know the difference between a corporation, a sole proprietorship, a partnership or a joint venture?  Have you been operating your business for awhile and thinking about making the leap into incorporation, but not sure whether it is right for you?  Join me and my guest, Jared Pilon, a senior accountant with Roth Hrywkiw Fidek LLP in Red Deer, Alberta for an open discussion on business structures.  We will explore how to choose your initial structure, how to know when it is time to make a change, and how to unwind what you have created.

Topic #1:  What are the different options for business structures? (9:40)
Topic #2:  How do you know when it is time to incorporate? (29:15)
Topic #3:  How do you unwind a corporation? (37:18)

RESOURCES DISCUSSED ON THE EPISODE

Podcasts that Jared is currently listening to:

Thrivetime Show | Small Business Podcast
https://open.spotify.com/show/6VwJ6Kp46UAXtWCaDSL4Cp?si=H1v-ku7uTx-p5NuVZQmNfw

Muscle For Life with Mike Matthews
https://open.spotify.com/show/3Vn2r4Nf0t6QDaWuJLp6dh?si=LnkImRWgSIGbM8aAT8NKcQ

Idleman Unplugged
https://open.spotify.com/show/2njkgEX74Y1EBUQczFxfAO?si=vye9JdaLTTWxDblwBTb_uQ

Hold These Truths with Dan Crenshaw
https://open.spotify.com/show/2BbbFyOBNTLpYDzUai6ta2?si=SPoujvXnRNGs6v5Az9dP2Q
 

MORE FROM JARED

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]]> Do you know the difference between a corporation, a sole proprietorship, a partnership or a joint venture?  Have you been operating your business for awhile and thinking about making the leap into incorporation, but not sure whether it is right for you?  Join me and my guest, Jared Pilon, a senior accountant with Roth Hrywkiw Fidek LLP in Red Deer, Alberta for an open discussion on business structures.  We will explore how to choose your initial structure, how to know when it is time to make a change, and how to unwind what you have created.

Topic #1:  What are the different options for business structures? (9:40)
Topic #2:  How do you know when it is time to incorporate? (29:15)
Topic #3:  How do you unwind a corporation? (37:18)

RESOURCES DISCUSSED ON THE EPISODE

Podcasts that Jared is currently listening to:

Thrivetime Show | Small Business Podcast
https://open.spotify.com/show/6VwJ6Kp46UAXtWCaDSL4Cp?si=H1v-ku7uTx-p5NuVZQmNfw

Muscle For Life with Mike Matthews
https://open.spotify.com/show/3Vn2r4Nf0t6QDaWuJLp6dh?si=LnkImRWgSIGbM8aAT8NKcQ

Idleman Unplugged
https://open.spotify.com/show/2njkgEX74Y1EBUQczFxfAO?si=vye9JdaLTTWxDblwBTb_uQ

Hold These Truths with Dan Crenshaw
https://open.spotify.com/show/2BbbFyOBNTLpYDzUai6ta2?si=SPoujvXnRNGs6v5Az9dP2Q
 

MORE FROM JARED

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]]> Thu, 10 Sep 2020 07:00:00 -0500 Amanda Doucette Amanda Doucette 2694 Everything you ever wanted to know about the different options for business structures... and also a little bit about the taxation of those structures! Everything you ever wanted to know about the different options for business structures... and also a little bit about the taxation of those structures! tax, business, entrepreneur, finance No The man behind the music - a casual chat with Craig Clement, the creator of my intro/outro music! 1 1 The man behind the music - a casual chat with Craig Clement, the creator of my intro/outro music! bonus 5c641803-0a29-43d6-ae60-bc4d043cdc33 https://share.transistor.fm/s/18e9eed2 In this bonus episode, we take a quick detour from our regularly scheduled programming to chat with Craig Clement.  Who is Craig Clement?  Well, Craig is an NBA enthusiast, die hard Drake fan, creator of the intro/outro music for this podcast, and… my fiancé.  Join us for a candid discussion on Craig’s love of music and his creative process.  Recorded in The James Hotel in the heart of downtown Saskatoon.


RESOURCES DISCUSSED IN THIS EPISODE

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]]> In this bonus episode, we take a quick detour from our regularly scheduled programming to chat with Craig Clement.  Who is Craig Clement?  Well, Craig is an NBA enthusiast, die hard Drake fan, creator of the intro/outro music for this podcast, and… my fiancé.  Join us for a candid discussion on Craig’s love of music and his creative process.  Recorded in The James Hotel in the heart of downtown Saskatoon.


RESOURCES DISCUSSED IN THIS EPISODE

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]]> Fri, 21 Aug 2020 07:00:00 -0500 Amanda Doucette Amanda Doucette 2156 A special bonus episode where I chat with the creator of the intro/outro music for this podcast - Craig Clement. A special bonus episode where I chat with the creator of the intro/outro music for this podcast - Craig Clement. tax, business, entrepreneur, finance No Bookkeeping 101 with Tasha Baier 1 1 1 1 Bookkeeping 101 with Tasha Baier full b23339f1-c85c-4b3a-95fe-e042ac557226 https://share.transistor.fm/s/22940c9f When it comes time to organize your statements and receipts do you suddenly feel the urgency to clean your closet, empty the dishwasher, take your dog for a walk, or do anything other than deal with the pile of paper on your desk?  Do you stuff your receipts into a shoebox of shame and hide them under your bed?  Are you forcing yourself to do the work but feel overwhelmed by all the new electronic products on the market?  Then this episode is for you!  Join me and my new friend Tasha Baier for a candid discussion on bookkeeping - what it is, why it is important, and how you can make it less painful. 


In this episode, we discuss the following topics: (1) What is a bookkeeper and why you need one! (9:30); (2) Options for bookkeeping software (22:58); (3) Tips and tricks to make bookkeeping less painful (35:10).

RESOURCES DISCUSSED ON THE EPISODE


MORE FROM TASHA


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]]> When it comes time to organize your statements and receipts do you suddenly feel the urgency to clean your closet, empty the dishwasher, take your dog for a walk, or do anything other than deal with the pile of paper on your desk?  Do you stuff your receipts into a shoebox of shame and hide them under your bed?  Are you forcing yourself to do the work but feel overwhelmed by all the new electronic products on the market?  Then this episode is for you!  Join me and my new friend Tasha Baier for a candid discussion on bookkeeping - what it is, why it is important, and how you can make it less painful. 


In this episode, we discuss the following topics: (1) What is a bookkeeper and why you need one! (9:30); (2) Options for bookkeeping software (22:58); (3) Tips and tricks to make bookkeeping less painful (35:10).

RESOURCES DISCUSSED ON THE EPISODE


MORE FROM TASHA


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]]> Wed, 12 Aug 2020 07:00:00 -0500 Amanda Doucette Amanda Doucette 3287 What is a bookkeeper and why do you need one? A candid discussion on the ABC's of bookkeeping. What is a bookkeeper and why do you need one? A candid discussion on the ABC's of bookkeeping. tax, business, entrepreneur, finance No When family law matters and tax collide: traps your family law professional needs to know about 1 1 2 2 When family law matters and tax collide: traps your family law professional needs to know about full 06f3f9cf-dc2d-4fa6-ad37-99583537ccb1 https://share.transistor.fm/s/8d136300 As if going through a separation or divorce wasn’t stressful enough, there are several income tax traps that can arise when dealing with issues arising from a separation. Not only does your family law advisor need to know about family law, but it’s important that they understand the fundamental tax issues that may also arise. A family law advisor can also help you avoid dealing with tax traps by effective planning through a prenuptial or cohabitation agreement. Agreements of this nature, and alternative methods of dispute resolution, are becoming a lot more popular as more spouses are prioritizing having those big discussions upfront regarding expectations pertaining to financial and property matters should a separation arise. Join me and my law partner, Kim Visram of SHTB LLP for a discussion regarding tax traps, interspousal agreements and what other options exist if you do not want to set foot in Court. 

In this episode, we discuss the following issues: (1) Key tax issues that arise in most separations/divorces (8:38); (2) How to minimize financial implications upon separation/divorce with effective planning in an interspousal agreement (45:20); (3) How to utilize alternative dispute resolution measures to find creative solutions and minimize tax implications arising from separation/divorce (56:00). 

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM KIM

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]]> As if going through a separation or divorce wasn’t stressful enough, there are several income tax traps that can arise when dealing with issues arising from a separation. Not only does your family law advisor need to know about family law, but it’s important that they understand the fundamental tax issues that may also arise. A family law advisor can also help you avoid dealing with tax traps by effective planning through a prenuptial or cohabitation agreement. Agreements of this nature, and alternative methods of dispute resolution, are becoming a lot more popular as more spouses are prioritizing having those big discussions upfront regarding expectations pertaining to financial and property matters should a separation arise. Join me and my law partner, Kim Visram of SHTB LLP for a discussion regarding tax traps, interspousal agreements and what other options exist if you do not want to set foot in Court. 

In this episode, we discuss the following issues: (1) Key tax issues that arise in most separations/divorces (8:38); (2) How to minimize financial implications upon separation/divorce with effective planning in an interspousal agreement (45:20); (3) How to utilize alternative dispute resolution measures to find creative solutions and minimize tax implications arising from separation/divorce (56:00). 

RESOURCES DISCUSSED ON THE EPISODE

MORE FROM KIM

MORE FROM AMANDA

]]> Wed, 12 Aug 2020 07:00:00 -0500 Amanda Doucette Amanda Doucette 4162 In this episode, my law partner, Kim Visram, joins me for a candid conversation on key tax issues that a person needs to keep in mind when separating/divorcing - we discuss taxation of spousal and child support, the child tax credit, the importance of interspousal agreements (i.e., the "pre-nup"), and alternative dispute resolution as a means of resolving family law issues. In this episode, my law partner, Kim Visram, joins me for a candid conversation on key tax issues that a person needs to keep in mind when separating/divorcing - we discuss taxation of spousal and child support, the child tax credit, the importance of int tax, business, entrepreneur, finance No You are not an island - why collaborating with other professionals is a "must" for wealth succession 1 1 3 3 You are not an island - why collaborating with other professionals is a "must" for wealth succession full 9059214d-b5af-4564-a2c0-9963a0ec8c65 https://share.transistor.fm/s/98cae515 Who is part of your team of advisors?  Do you have a lawyer? An accountant? A financial planner? An insurance advisor? Do they all know about each other?  Are you looking to find a team of advisors but do not know where to start?  Does the thought of putting all these advisors in a room together fill you with terror and make you clutch onto your credit card?  Are you an advisor that fits into one of these categories and wish you could be a part of a team?  Then this episode is for you!  Join me and my BFF Tracy Duff of Skye Planning Group for a discussion on collaborative estate planning - what it is, why it is important, and the logistics of making it work.

In this episode, we discuss the following topics: (1) Why do you need a team of advisors? (17:52); (2) Who should be on your team? (23:50); and (3) How does this type of collaboration actually work in practice? (34:05).

RESOURCES DISCUSSED ON THE EPISODE


MORE FROM TRACY


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]]> Who is part of your team of advisors?  Do you have a lawyer? An accountant? A financial planner? An insurance advisor? Do they all know about each other?  Are you looking to find a team of advisors but do not know where to start?  Does the thought of putting all these advisors in a room together fill you with terror and make you clutch onto your credit card?  Are you an advisor that fits into one of these categories and wish you could be a part of a team?  Then this episode is for you!  Join me and my BFF Tracy Duff of Skye Planning Group for a discussion on collaborative estate planning - what it is, why it is important, and the logistics of making it work.

In this episode, we discuss the following topics: (1) Why do you need a team of advisors? (17:52); (2) Who should be on your team? (23:50); and (3) How does this type of collaboration actually work in practice? (34:05).

RESOURCES DISCUSSED ON THE EPISODE


MORE FROM TRACY


MORE FROM AMANDA

]]> Wed, 12 Aug 2020 07:00:00 -0500 Amanda Doucette Amanda Doucette 3556 Today's guest is corporate life insurance specialist, Tracy Duff - join us as we discuss the importance of a team approach to estate planning and business succession. Today's guest is corporate life insurance specialist, Tracy Duff - join us as we discuss the importance of a team approach to estate planning and business succession. tax, business, entrepreneur, finance No Welcome to The Tax Chick Podcast 1 1 Welcome to The Tax Chick Podcast trailer 17210a86-1f19-4e39-bf80-6b56458ce1e3 https://share.transistor.fm/s/adaaf43b In this "sneak-peek" episode, I share with you why I started this podcast, and what you can expect in upcoming episodes.  

If you are listening to this podcast because you are expecting a technical discussion on different tax planning techniques, then I am afraid this is the wrong podcast for you.  I am not going to tell you how to defer tax, how to avoid tax, or talk about butterfly reorganizations, 10-8 insurance plans, or loss utilization strategies.  


So what is the purpose of this podcast?  

  • My goal is to give you “food for thought”.  Something to discuss over the dinner table with your family, or perhaps over the water cooler with colleagues.  
  • I want to help listeners be able to identify when they need to seek help from a professional - and what professional they should call.  
  • I want to promote and encourage the idea of collaborative practice amongst professionals - and that it is imperative to work as a team to come up with the best solution.
  • And, I also hope that you might occasionally giggle, or at least smile, during some of my discussions.  Tax law and discussions about tax do not always have to be so serious!  

MORE FROM AMANDA

]]> In this "sneak-peek" episode, I share with you why I started this podcast, and what you can expect in upcoming episodes.  

If you are listening to this podcast because you are expecting a technical discussion on different tax planning techniques, then I am afraid this is the wrong podcast for you.  I am not going to tell you how to defer tax, how to avoid tax, or talk about butterfly reorganizations, 10-8 insurance plans, or loss utilization strategies.  


So what is the purpose of this podcast?  

  • My goal is to give you “food for thought”.  Something to discuss over the dinner table with your family, or perhaps over the water cooler with colleagues.  
  • I want to help listeners be able to identify when they need to seek help from a professional - and what professional they should call.  
  • I want to promote and encourage the idea of collaborative practice amongst professionals - and that it is imperative to work as a team to come up with the best solution.
  • And, I also hope that you might occasionally giggle, or at least smile, during some of my discussions.  Tax law and discussions about tax do not always have to be so serious!  

MORE FROM AMANDA

]]> Sat, 25 Jul 2020 10:37:18 -0500 Amanda Doucette Amanda Doucette 448 If you are anything like me, I am guessing that before you fully commit to a podcast, you like to have a sneak-peek of what you can expect, and who you will be listening to. So, I thought it might be helpful to record this short introduction! If you are anything like me, I am guessing that before you fully commit to a podcast, you like to have a sneak-peek of what you can expect, and who you will be listening to. So, I thought it might be helpful to record this short introduction! tax, business No