The Tax Chick Podcast

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 EMILYWebsite: hirsekorncoaching.comLinkedIn: https://www.linkedin.com/in/emilyhirsekorn/ Instagram: https://www.instagram.com/hirsekorn_coaching/ MORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ Instagram: @tax.chick

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 EPISODEVideo Tax News Podcast - https://www.videotax.com/life-in-the-tax-lane-podcast MORE FROM ANNAWebsite (and Blog): https://www.advotaxlaw.ca/Facebook: https://www.facebook.com/advotaxlawLinkedIn:  https://www.linkedin.com/in/annamalazhavaya/Instagram: https://www.instagram.com/advotaxlaw/?hl=enMORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ Instagram: @tax.chick

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“How I built this” podcast: https://www.npr.org/podcasts/510313/how-i-built-this Melanie’s Stand Out Style Course: https://www.melanielippman.com/standoutstyleMORE FROM MELANIEWebsite: https://www.melanielippman.com/  LinkedIn: https://www.linkedin.com/in/personalstylistmelanielippman/ Connect with me by email: melanie@melanielippman.com Instagram:  @melanielippmanMORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ Instagram: @tax.chick

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 EPISODELittle Stories for Tiny People Podcast (https://www.littlestoriestinypeople.com/)Growing your Financial Advisory Practice Podcast (https://podcasts.apple.com/ca/podcast/growing-your-financial-advisory-practice-insights-for/id1350497225)Investments Unplugged (https://www.manulifeim.com/retail/ca/en/viewpoints/capital-markets-strategy/investments-unplugged-with-philip-petursson)https://fpcanada.ca/canadian-publichttps://www.securities-administrators.ca/nrs/nrsearchprep.aspx MORE FROM JANEAWebsite (and Blog): https://www.brightrock.ca/ Facebook: http://www.facebook.com/jdienoConnect with me by email:  j@brightrock.caInstagram:  @janeadienoMORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ Instagram: @tax.chick

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 EPISODEHolly’s favorite podcast:Dax Shepard, “Armchair Expert”: https://armchairexpertpod.com The new Jason Bateman podcast I could not remember the name of… “Smartless”: https://podcasts.apple.com/us/podcast/smartless/id1521578868 Ayden Kitchen and Bar: https://www.aydenkitchenandbar.com/ RydeYXE Cycle Studio: https://rydeyxe.ca/Erin Nicole “Holly Decker Signature Custom Lash”: https://www.hollydecker.com/new-products/holly-decker-signature-custom-lash Beauty Blender: https://beautyblender.com/Holly’s amazing accountant, Lorrie McLeod-Georget:  https://www.linkedin.com/in/lorrie-mcleod-georget-b0072010b/?originalSubdomain=ca “Inquire Within” Oracle Cards: https://feelgreatfull.com/collections/ritual-goods/products/inquire-within-deck Suggested supports for new entrepreneurs:The Well Collaborative: https://www.thewellcollaborative.com/Women Entrepreneurs of Saskatchewan: https://wesk.ca/MORE FROM HOLLYWebsite:  https://www.hollydecker.com Facebook: https://www.facebook.com/Holly-Decker-Makeup-Artistry-271411189654735/ Instagram:  @hollydeckermakeupartist; @girltalkyxeMORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ Instagram: @tax.chick

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 EPISODEPodcast Suggestion from Sophie:  Oprah’s SuperSoul Conversations:https://podcasts.apple.com/us/podcast/oprahs-supersoul-conversations/id1264843400MORE FROM SOPHIE:Website:  https://www.bennettjones.com/VirjiSophie Facebook: https://www.facebook.com/sophie.virji/LinkedIn:  https://www.linkedin.com/in/sophievirji/Instagram:  @sophievirjiMORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ Instagram: @tax.chick

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 EPISODEPodcasts 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 Matthewshttps://open.spotify.com/show/3Vn2r4Nf0t6QDaWuJLp6dh?si=LnkImRWgSIGbM8aAT8NKcQ Idleman Unpluggedhttps://open.spotify.com/show/2njkgEX74Y1EBUQczFxfAO?si=vye9JdaLTTWxDblwBTb_uQ Hold These Truths with Dan Crenshawhttps://open.spotify.com/show/2BbbFyOBNTLpYDzUai6ta2?si=SPoujvXnRNGs6v5Az9dP2Q MORE FROM JAREDWebsite (and Blog):  https://www.jaredpilon.com/; https://rhfaccountants.ca  Facebook: https://www.facebook.com/jaredpiloncpa/LinkedIn:  https://www.linkedin.com/in/jared-pilon/Instagram:  https://www.instagram.com/jaredpiloncpa/; https://www.instagram.com/rhfaccountants/MORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ Instagram: @tax.chick

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 EPISODEThe James Hotel - http://thejameshotel.ca/ The last podcast Craig listened to:  https://www.theringer.com/the-bill-simmons-podcast Our guilty pleasure podcasts:  https://podcasts.apple.com/ca/podcast/90-day-fiance-cray-cray/id1423940128 https://www.theringer.com/bachelor-party Drake’s OVO Store Website - https://ca.octobersveryown.com/ MORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comLinkedIn: https://www.linkedin.com/in/amanda-doucette-tep-83a9ab51/ Instagram: @tax.chick

Tasha Baier, a Saskatoon-based freelance business consultant and bookkeeper, shares her expertise on making bookkeeping less daunting. She explains the crucial differences between bookkeepers and accountants, helping listeners understand when to hire each. Tasha offers tips for choosing bookkeeping software, emphasizing the benefits of Sage and QuickBooks. She also discusses effective organization techniques, like scanning receipts and setting up a physical filing system. Tune in for invaluable advice that demystifies managing finances for entrepreneurs!

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“Negotiate your best life” (A podcast) - https://negotiateyourbestlifepodcast.com Conflict Resolution Saskatchewan: https://conflictresolutionsk.ca/member-profile/?uid=162Government of Saskatchewan,  “Family Mediators who have been recognized under Section 44.01 of The Queen’s Bench Act, 1998” - https://pubsaskdev.blob.core.windows.net/pubsask-prod/115118/Recognized%252BFamily%252BMediators%252BList_July%252B16%252B2020.pdfMORE FROM KIMWebsite:  https://www.shtb-law.com/lawyers/kimberly-d-visram/Facebook: https://www.facebook.com/KimberlyVisramLegalMORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comInstagram: @tax.chick