The Tax Chick Podcast

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 w...

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 ad...

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...

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.com LinkedIn: htt...

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 d...

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 ge...

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 m...

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 li...

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 plannin...

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 dir...

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...

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...

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 fun...

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...

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 own...

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...

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 Can...

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 "philanth...

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,...

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...

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 overwhelm...

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 gu...

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 Cauwenberg...

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 n...

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....