The Tax Chick Podcast

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 th...

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....

"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 t...

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...

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...

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 the...

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...

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...

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 “ho...

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 start...

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 kn...

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...

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...

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 struct...

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 Sa...

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...

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 e...

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...

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 reorganizatio...