The Tax Chick Podcast

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

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 products on the market?  Then this episode is for you!  Join me and my new friend Tasha Baier for a candid discussion on bookkeeping - what it is, why it is important, and how you can make it less painful. In this episode, we discuss the following topics: (1) What is a bookkeeper and why you need one! (9:30); (2) Options for bookkeeping software (22:58); (3) Tips and tricks to make bookkeeping less painful (35:10).RESOURCES DISCUSSED ON THE EPISODEREAL AF with Andy Frisella (https://andyfrisella.com/blogs/realaf-podcast)Sage (https://www.sage.com/en-ca/)Quickbooks (https://quickbooks.intuit.com/online/)MORE FROM TASHAIG:  @tbaierconsultingFB: @tbaierbusinessconsultingwww.tbaierbusinessconsulting.com MORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comConnect on IG: @tax.chick 

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

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 of these categories and wish you could be a part of a team?  Then this episode is for you!  Join me and my BFF Tracy Duff of Skye Planning Group for a discussion on collaborative estate planning - what it is, why it is important, and the logistics of making it work. In this episode, we discuss the following topics: (1) Why do you need a team of advisors? (17:52); (2) Who should be on your team? (23:50); and (3) How does this type of collaboration actually work in practice? (34:05).RESOURCES DISCUSSED ON THE EPISODEStrategic Coach Podcast:  https://strategicpodcasts.com/Your Digital Undertaker Podcast: https://yourdigitalundertaker.ca/podcast/ MORE FROM TRACYWebsite:  https://skyeplanning.com/Facebook: @SkyePlanningTwitter:  @SkyeDuffIG: @skyeplanninggroupEmail: tracy@skyeplanning.comMORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.comConnect with me by email: thetaxchickpodcast@gmail.com

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 reorganizations, 10-8 insurance plans, or loss utilization strategies.  So what is the purpose of this podcast?  My goal is to give you “food for thought”.  Something to discuss over the dinner table with your family, or perhaps over the water cooler with colleagues.  I want to help listeners be able to identify when they need to seek help from a professional - and what professional they should call.  I want to promote and encourage the idea of collaborative practice amongst professionals - and that it is imperative to work as a team to come up with the best solution.And, I also hope that you might occasionally giggle, or at least smile, during some of my discussions.  Tax law and discussions about tax do not always have to be so serious!  MORE FROM AMANDAThe Tax Chick Blog - https://taxchickca.wordpress.com;Connect with me by email: thetaxchickpodcast@gmail.comConnect with me on Instagram: @tax.chick