The Tax Chick Podcast

Dive into the intricate world of trusts with advanced insights! Discover the tax risks of adding or removing beneficiaries and learn about the intriguing benefits of alter ego and joint spousal trusts. Explore how family law can impact trust interests during separations and what courts consider when valuing discretionary trust interests. Uncover potential corporate association issues arising from family trusts, as well as the vital ongoing maintenance and reporting duties that trustees must uphold. It's a treasure trove of knowledge for trust aficionados!

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:My website! Email: thetaxchickpodcast@gmail.com@tax.chick (IG) LinkedInBe a "Tax Chick VIP" 

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:Podcast: https://canadianmoneyroadmap.buzzsprout.com YouTube LinkedIn Website: https://www.evanneufeld.com HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:My website! Email: thetaxchickpodcast@gmail.com@tax.chick (IG) LinkedInBe a "Tax Chick VIP"  

Explore the fascinating world of trusts! Learn what a trust is and the crucial three certainties needed to establish one. Discover why families create trusts and the importance of reevaluating them over time. Understand the roles of settlors, trustees, and beneficiaries, alongside the differences between capital and income beneficiaries. Dive into how trusts serve in business succession planning and protect minors or dependents. Lastly, uncover how trusts are taxed under new reporting rules, including the unique treatment of inter vivos and testamentary trusts.

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!  

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:CPA Canada: https://www.cpacanada.ca/ Check out Jordan's first episode on this podcast:  Sales Tax 101, with special guest Jordan BrownCONNECT WITH JORDAN:Facebook: https://www.facebook.com/gocopilotadvisory/Instagram: https://www.instagram.com/copilotadvisory/LinkedIn: https://www.linkedin.com/company/copilotadvisoryWebsite: www.copilotadvisory.ca 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 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.

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:All About Estates, "Further Assessing Drake's Estate Planning Needs" - https://www.allaboutestates.ca/further-assessing-drakes-estate-planning-needs/ CEBA Loans (FAQ and Program Information, CRA) - https://ceba-cuec.ca/  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 

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:Underused Housing Tax: https://www.canada.ca/en/services/taxes/excise-taxes-duties-and-levies/underused-housing-tax.html"Master Your" Event - come see The Tax Chick live and learn a little bit about the intersection between death and taxes: TCU Tickets for Masters Event!CONNECT WITH ANNA:Instagram: @advotaxLinkedIn: https://www.linkedin.com/in/annamalazhavaya/?originalSubdomain=caWebsite: https://www.advotaxlaw.ca/ 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 

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:CBA Tax Law for LawyersSaskatoon CTF YP GroupSTEP SK 2023-2024 ProgrammingVideo Tax NewsCPA In-Depth Tax CourseYork University Professional LLM ProgramCanadian Tax FocusHERE 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