The Tax Chick

Attention business owners!

Guess what? Today, I released a special podcast episode just for you!! 🎙️

I am chatting with my special guest Corey DeJean all about the crucial tax information you need to know for your business.

We may or may not have gotten a bit sidetracked laughing about that great scene from Schitt’s Creek where Johnny Rose attempts to explain to David what a tax write-off is 😂. (Hint: I linked the scene in the show notes in case you want a giggle 🤭)

We also talk about the importance of collaboration, how to figure out the “best” way to compensate yourself from your business, and the big difference between revenue and $$ in the bank.

Whether you are a a startup founder or a seasoned entrepreneur, these tips will apply to you!

The Tax Chick Podcast is available on all major streaming sites!

Are you behind in your tax filings? I mean REALLY behind… like more than the last year or two? Did you make a mistake in a previous filing?

CRAs Voluntary Disclosure Program might be the solution you are looking for!

Check out the latest episode of The Tax Chick Podcast, where I discuss the VDP program, the criteria for a successful application and what happens once you have applied.

The Tax Chick Podcast is available on all major streaming platforms! 🎙️

Are you a current law student in first or second year? (Or as the cool kids say, 1L or 2L?)

You have probably been hearing a lot about summer student positions - and trying to decide whether you want to throw your hat in the ring for the upcoming interview season!

If you are feeling a little overwhelmed about the process, never fear - I just released a fun episode of The Tax Chick Podcast where I chatted with the three summer students at my firm all about their summer experience. They dropped some serious knowledge, along with some tips and tricks for future students!

You can find the podcast on all major streaming sites - and check out the slides above for some quick tips from me ⭐️

Ever wonder what it is like to work at a law firm? Check out the latest episode of The Tax Chick Podcast to meet Nick, Blake and Frank - the three law students who worked at our firm over the summer 😊

I thought it would be fun to pick their brains about the practice of law and what has surprised them most about their work this summer!

The Tax Chick Podcast is available on all major streaming sites ⭐️⭐️

Hi. I’m Amanda and I love being a tax lawyer - check out my post above for 5 reasons why I am passionate about what I do!

What do you love about your job? Share in the comments below ⬇️

Happy 4th Birthday to my podcast 🎉🎉

It is hard to believe that four years have flown by since I launched The Tax Chick Podcast. What started as a fun passion project during the pandemic has grown into a vibrant community of listeners in over 75 countries!

Thank you so much for being a part of my podcast family - and a huge thanks to all of my fabulous guests over the years!

I am thinking I should have a proper party next year to celebrate the 5th Anniversary… what do you think?

Ever wondered about how “discoveries” in a Tax Court case can shape the outcome of a matter?

Check out the latest episode of The Tax Chick Podcast for a quick overview of what discoveries are, and how I typically prepare for this important part of a tax case!

The Tax Chick Podcast is available on all major streaming sites 🎙️

The Tax Chick Podcast is a great resource but did you know that I have you covered with a range of resources designed to help you navigate the complexities of tax law?

⭐️ My website has over 70 blog posts for your reading pleasure (found in the “learning center”).

⭐️ I am pretty active here on instagram and provide short, easy to digest posts on interesting tax topics.

⭐️ Connect with me on LinkedIn where I post regularly!

⭐️ Connect with me in person - I am regularly travelling and speaking at conferences on tax and estate planning topics!

Ever wonder what a day in the life of a tax professional looks like? Here’s a peek into my daily routine:

1️⃣ Read updates on tax legislation - staying on top of the latest changes and developments in tax law is crucial! It helps keep me informed and ahead of the curve.

2️⃣ Explain a tax concept to a client - where it’s a simple expense issue or a complex strategy, I love breaking down tax jargon into clear, actionable advice that you can understand and use.

3️⃣ Open the Income Tax Act - I am never far from my copy of the Act, and when I am on the run, I always have the fabulous Tax Lite app at my fingertips!

Curious about taxes? Dip your toes in by checking out The Tax Chick Podcast - available on all major streaming sites! 🎙️

Have you heard of donor-advised funds or "DAFs"? They are a really neat way to incorporate charitable giving into your life. There are a ton of benefits to using a DAF - swipe to see just a few of the perks!

If you want to learn more about DAFs, check out the latest episode of The Tax Chick Podcast!

What is a donor-advised fund or "DAF"? They have gained popularity in recent years because they are a flexible and efficient tool for charitable giving.

Think of a DAF as a vehicle for charitable giving. It is administered by a public charity or an institution. Donors can contribute cash, securities, or other appreciated assets to the fund and receive an immediate tax deduction for their donation.

The assets are invested and grow tax-free, which allows donors to recommend grants to qualified charitable organizations over time.

You can start a DAF during lifetime, and continue to add to it - even as part of your estate planning! Curious to learn more?
Check out the latest episode of The Tax Chick Podcast!

Exciting news! A new episode of The Tax Chick Podcast is now available - it is a must listen for anyone who is acting as a director or officer of a corporation.

In this episode, I give an update on the federal budget, and then dive into what you need to know about taking on the role of a director or officer.

Spoiler alert: this also applies to taking on those roles for your condo board, child’s daycare or church board. The start and end dates are really important, and there is certain documentation you should have in place.

Whether you are a director/officer, or advise clients who act in these roles, this episode is for you!

Available now wherever you like to listen to podcasts 🎙️

It seems like a lot of people are talking about trusts these days... Do you have a trust? Has one of your advisors suggested the creation of a trust as part of your estate planning? Do you understand how trusts are taxed?

With a trust, you can:
✅ Protect assets from legal challenges and creditors
✅ Provide for loved ones with special needs
✅ Minimize estate taxes and probate costs
✅ Maintain privacy and confidentiality
✅ Preserve wealth for future generations

There are pros and cons to creating a trust in lifetime, and/or including one in your will. If you are curious to learn more, check out The Tax Chick Podcast! I released three mini-episodes on trusts earlier this year. At only 15 minutes each, it is the perfect amount of time to keep you occupied while walking your dog, or driving to work.

The Tax Chick Podcast is available on all major streaming sites, and wherever you like to listen to podcasts!

Don't wait until it's too late to safeguard your legacy. Talk to a trusted financial advisor today to learn how trusts can help you build a brighter financial future for yourself and your family! 💰🏡

Did you know that….

Learning about taxes can be fun?

Hi 👋 I’m Amanda, a.k.a “The Tax Chick”. By day, I am a tax partner in a mid-sized law firm in Saskatoon, Saskatchewan, Canada. And in my spare time, I am:

🎙️ a podcaster
💻 a blogger
🏀 an NBA fan
🎶 a hip hop aficionado
🥘 a foodie
✈️ a traveller!

I have always practiced tax differently, and in 2020, I decided to take some concrete steps to share my passion with a wider audience. Check out my podcast to listen in on some FUN conversations about tax, or hop on over to my website to learn more!

Because tax is complex, but it doesn’t have to be complicated 🙌🏻

Let's connect!
Feel free to reach out to me on IG or LinkenIn or comment below to start a conversation!

Looking forward to sharing my love of tax law with you!

Do you break out into a cold sweat when you receive a letter from CRA?

Never fear! Responses to CRA do not have to be scary - swipe ⬅️ for some quick tips 💡

And, if you filed your tax return for the year and received a letter from the “preassessment review” section of CRA, check out the latest episode of The Tax Chick Podcast for some information on what these letters mean and how you should respond.

I also reminisce about the “good old days” when you still had to file your tax return by paper, and when you could still walk into a CRA office to file your return 😂

The Tax Chick Podcast is available wherever you like to listen to podcasts 🎙️

Is it weird that my dream is to get a ticket into the Federal Budget lockdown?

Is there anything more exciting than being locked in a secret room with other tax practitioners and given advance access to documents that will only hit the public view later in the day?!?!

I digress… 😊

A huge thank you to the people and institutions who have provided some excellent updates about the technicalities of the proposed changes in the budget.

But over the last 24 hours, I have been fielding a lot of questions from non-tax practitioners about what the changes mean and how those changes apply to their clients or their personal circumstances. This included a few requests for a podcast episode on the topic…

You asked, and I delivered! Check out the newest episode of The Tax Chick Podcast where I tackle topics such as:

- the history of the federal budget and what I do each year on budget day
- capital gains - what are they? How were they taxed? What is the proposed change?
- what is the lifetime capital gains exemption and what change is proposed?
- what impact do these changes have on departing Canadians?
- what is s. 160 of the Act and what expanded rules are proposed?
- the proposed “notice of non-compliance” - what is it and how does it impact the limitation period on reassessments?

The Tax Chick Podcast is available on all major streaming sites or through the link in my bio 🎙️

Happy 2024 Federal Budget Day 🤦🏻‍♀️

There are a lot of new measures, but in this post I have highlighted some of the tax measures that made my ears “perk up” today…

New, new, new!!!
So many new episodes dropped this week in celebration of the launch of Season 5 of the podcast!

Some highlights:

⭐️ Learn about taxation of tax free savings accounts

PLUS

⭐️ A series of episodes on Trusts!

AND

⭐️ catch up on what I have been up to over the last few months…

Featuring new music from DJ CWC!

The Tax Chick Podcast is available wherever you like to listen to podcasts 🎙️

Kicking off Season 5 of The Tax Chick Podcast with special guest, Evan Neufeld - a Certified Financial Planner and a fellow Saskatoon podcaster!

We are breaking down what you need to know about TFSAs, including what happens if you over-contribute, how are they taxed, and what happens to your TFSAs if you die…

And I am debuting new intro music from Craig (a.k.a DJ CWC) 😊

This episode is one of 5 episodes that I released today in honor of the new season! 🎙️

When you hear the phrase “estate planning”, what do you think?

Most people I chat with will usually say, “it means I need to make a will”.

Yes, you do need a will, but estate planning is about so much more than that! Swipe ⬅️ for some tips!

Want to learn more? At www.thetaxchick.ca, I have a fun guide to The Tax Chick Podcast - and there are a whole series of fun episodes on this exact topic! I encourage you to check them out!

You asked for it, and I am delivering!

When Season 5 launches this month, it will include 2 episodes on Trusts! With the introduction of the new trust reporting rules, I thought it might be helpful to breakdown what you need to know.

⭐️ what is a trust?
⭐️ who are the parties to a trust?
⭐️ how are trusts taxed in Canada?
⭐️ what is a bare trust?
⭐️ what do the new trust reporting rules mean for trusts in Canada?
⭐️ what are the pros and cons of having a trust?

In the meantime, this is a great opportunity to catch up on episodes you might have missed from last season! The Tax Chick Podcast is available on all major streaming platforms 🎙️

Yes, it is that lovely time of year where we all need to give some serious thought to our tax filing!

Regardless of whether you are filing as an individual by April or a sole proprietor filing by June, now is the time to get your paperwork in order!

Swipe ⬅️ on the above post for 3 quick tips you can follow to get ready for tax season!

When it comes to CRA (like most things in life 😉, digging your head in the sand, only makes things worse!

Instead of letting the worry fester, contact your advisor to get some advice on your options moving forward - I promise it will make you feel better to start tackling the problem head on!

Curious to learn more about what to do if you are audited? I just posted a new blog post with my top five tips - you can access it through the Learning Center on my website or through the link in my bio ⭐️⭐️

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 in March 2024 🎙️

In this short episode, I provide some information on STEP and why I was in London, England earlier this month, and reflect on the craziness of 2023 and give a sneak preview of things to come in 2024…

Happy New Year!!! 🥳