The Tax Chick Podcast

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:CRA Formal Statement on Labour Dispute: https://www.canada.ca/en/revenue-agency/news/2023/04/canada-revenue-agency-responds-to-public-service-alliance-of-canadaunion-of-taxation-employees-strike-vote.html Check out the "Learning Center" on my website, for additional blog posts on this topic - membership is free!   https://thetaxchick.ca/learning-center HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:My new website is now live!!!  www.thetaxchick.ca Email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amandasadoucette   Instagram: https://www.instagram.com/tax.chick/ Be a "Tax Chick VIP": http://eepurl.com/hNbXcb 

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:My new website is now live!!!  www.thetaxchick.ca Email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amandasadoucette   Instagram: https://www.instagram.com/tax.chick/ Be a "Tax Chick VIP": http://eepurl.com/hNbXcb 

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:CRA Filing Deadlines: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/important-dates-individuals.html CONNECT WITH SHALINI:Instagram: www.instagram.com/dharnacpaLinkedIn: https://ca.linkedin.com/in/shalinidharnaWebsite: https://dharnacpa.ca/ Tax Prep Masterclass: https://dharnacpa.ca/tax-prep-masterclass-2/HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:My new website is now live!!!  www.thetaxchick.ca Email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amandasadoucette   Instagram: https://www.instagram.com/tax.chick/ Be a "Tax Chick VIP": http://eepurl.com/hNbXcb 

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 EPISODEJami Monte and Amanda Doucette, "How to stay cool during an audit": https://youtu.be/wFG5hG4DaoE Taxpayer Relief Application: https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/rc4288.html Remission Orders:  https://www.canada.ca/en/revenue-agency/services/about-canada-revenue-agency-cra/complaints-disputes/when-request-remission-review.html The AMAZING Lebanese restaurant in Oakville:  http://www.marosbistro.com/ HERE ARE SOME OTHER WAYS TO CONNECT WITH METhe Tax Chick Blog (until the big reveal of my new website!): https://taxchickca.wpcomstaging.com/ Email: thetaxchickpodcast@gmail.com LinkedIn: https://www.linkedin.com/in/amandasadoucette Instagram: https://www.instagram.com/tax.chick/?hl=en Sign up for my newsletter ("Be a Tax Chick VIP"): http://eepurl.com/hNbXcb 

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:The Tax Chick Blog (until the big reveal of my new website!!)- https://taxchickca.wordpress.com;Email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amandasadoucette   Instagram: https://www.instagram.com/tax.chick/ Be a "Tax Chick VIP": http://eepurl.com/hNbXcb 

Join Anisa Diwan, a Wills and Estates advisor at RBC Royal Trust, as she unpacks the intricacies of appointing a corporate executor. Discover why using a corporate executor might be the best choice for complex estates, particularly in families with blended dynamics or business ownership. Anisa explains the process of appointment, costs involved, and what happens after you pass away. With insights on family collaboration and support systems like Artie the Executor Helper, this discussion is essential for anyone navigating estate planning.

Yoss Herman, an experienced estate-planning practitioner, joins to unpack the complexities of estate planning. He emphasizes the critical role of shareholder agreements in preventing family business disputes and offers insights on the necessity of documenting intentions for lifetime gifts. The discussion also highlights the strategic use of corporate-owned life insurance for liquidity and the importance of understanding family dynamics in planning. Yoss tackles emerging hot topics, such as the implications of joint ownership and the nuances of beneficiary designations.

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"All there is" with Anderson Cooper: https://www.cnn.com/audio/podcasts/all-there-is-with-anderson-cooper CPA Small Practitioners' Forum: https://cpaspf.ca/ Shareholders' Agreements - Obligations, Remedies, Liquidity: https://www.resourcesandsolutions.ca/our-thoughts-2Charitable Giving - Many ways to Give: https://www.resourcesandsolutions.ca/our-thoughts-3-4Perhaps Life Insurance – A Financial Tool: https://www.resourcesandsolutions.ca/our-thoughts-3MORE FROM JOS:Website:  https://www.resourcesandsolutions.ca/ LinkedIn:  https://www.linkedin.com/in/jos-herman-cpa-cfp-tep-145a132b/ MORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amandasadoucette   Instagram: @tax.chickSign up for my Newsletter, "Musings of a Tax Chick": http://eepurl.com/hNbXcb 

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“Life in the Tax Lane" Podcast: https://www.videotax.com/life-in-the-tax-lane-podcast "Modern Love Podcast": https://www.nytimes.com/column/modern-love-podcast Video Tax News: www.videotax.com MORE FROM CAITLIN AND JOELinkedIn (Caitlin): https://www.linkedin.com/in/caitlin-butler-cpa-ca-96998b93/ LinkedIn (Joe): https://www.linkedin.com/in/joseph-devaney-cpa-ca-7501a537/ MORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amandasadoucette   Instagram: @tax.chickSign up for my Newsletter, "Musings of a Tax Chick": http://eepurl.com/hNbXcb 

In this engaging discussion, Lori Keightley, a U.S.–Canada cross-border tax specialist at Forbes Anderson LLP, unpacks essential insights on cross-border taxation. She explains the nuances of U.S. citizenship, the importance of formal green card relinquishment, and the heavy penalties for missed filings. Lori also delves into tax implications for Canadians owning U.S. property and provides critical advice for those working across borders, highlighting the often-complicated nature of tax rules and strategic planning.