Real Tax News You Can Use with Evelyn Jacks

In this week's episode we discuss:

• Is Income Earned Illegally Reportable? 
• Sin Taxes and The Underground Economy
• Refile Your Return to Avoid Gross Negligence or Tax Evasion Penalties
• Get Tax Advice: Expect a Thorough Interview to Optimize and Protect
• The Hudson’s Bay Company, Family Heirlooms and a Little Known Tax Tip
• Managing to Save Taxes for the Future: Have a Strategy and a Process

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In this week's episode we discuss:

Late Filers Beware: heavy penalties coming

How much is the average balance due?

After tax season – things you can expect from the tax department

Errors or Omissions? Request an adjustment

Electronic filing – is it really a panacea?

New Government – Big Announcements – Big Deficits

Tax Complexity for New Members of Parliament 

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In this week's episode we discuss:

The Last Carbon Tax Rebate - What to do with the Windfall

Options for Reinvesting Rebates and Refunds

How Your Age and Net Income Affects Investment Choices

Good Debt vs Bad Debt – What’s Your Order? 

Government Debt – Who Pays and Why it Matters

Economic Growth Helps – Discussions for Taxpayers and their MPs

What is Brain Drain?

Medical Expenses – Who Should Claim Them?

What Medical Expenses are You Missing?

Claiming the Disability Tax Credit

The Burden of Proof & Self-Assessment 

Adjusting Returns for Missed Tax Breaks

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In this week's episode we discuss:

Should you file your own tax return?

What are the issues to watch for when using tax software?

Driving your tax software  - why learning about tax filing rules is a great investment

Often missed medical expenses software can’t know about

Tax avenues designed for young people to build wealth

Opportunities for home ownership – innovative investment options

Preparing for the Homeownership “burn rate” – how to plan to managing the costs

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In this week's episode we discuss: 

Interviewing Your MPs – Pre and Post Election

The Link Between GDP and Taxes

What is a Recession? Why do we need to know? How do we prepare for It?

Are Canadians good at making a financial pivot?

What to do when there is job loss or change?  

How to upskill for a new economy and weather unemployment threats?

Small business start-ups – things to know to increase success rates

Things to think about when a business closes down

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In this week's Episode:

- Recent economic issues, including difficulties with CRA service levels.

- Stagnant Old Age Security benefits despite inflation.

- The impact of tariffs on investments. 

- Exploring tax relief options for those experiencing investment losses. 

- Tax Planning and Investment Strategies

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In this episode of Real Tax News we discuss:

- The upcoming tax filing season 

- The growth of the tax preparation industry in Canada 

- The complexity of the Canadian tax system.  

- Carbon taxes

- Government checks

 - The impact of the capital gains inclusion rate increase on individuals 

Lastly, we discuss the upcoming "goodie check" from the Federal Government, the potential impact of tariffs on the Canadian economy, and the need for tax harmonization across the nation. 

Sound production and editing by Classic Jax Studios 

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In this episode of Real Tax News:

- Evelyn Jacks explains the importance of economic growth in Canada. 

- What is GDP and why does it matter? 

- Why isn't economic growth highlighted more in our mainstream media and why don't we hear more about it from the various levels of government? 

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Sound production and editing by Classic Jax Studios 

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In this episode, we discuss:

- Canadian Tax Policy Updates

- Tax Filing Season Chaos Continues

- Bank of Canada's Interest Rate Decision

- Projected 70 Billion Dollars Impact

- Election Transparency 

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Sound production and editing by Classic Jax Studios 

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In uncertain tax and economic times like these, what decisions do Canadians have to make about their finances? What can be done to shore up threats to income and wealth accumulations? What should be done and by whom? What matters?   

It’s not one-size fits all - take a multi-stakeholder and a multi-advisory approach

Do a Deep Dive – a Thorough Financial Assessment

How to Control The Wealth Eroders: Taxes, Inflation and Fees

The Budgets: Federal and Provincial

Evelyn discusses financial advice for Canadians in uncertain economic times. She emphasizes focusing on what one can control: taxes, inflation, and fees. Evelyn recommends conducting a thorough financial assessment, including creating a net worth statement and reviewing tax returns. She advises on using tax refunds wisely and highlights the importance of considering capital gains tax changes before the end of 2025. Evelyn stresses the value of professional advice for long-term financial planning and discusses the challenges with Canada Revenue Agency's service levels. She also mentions recent provincial budget trends, noting tax relief measures in Alberta and Nova Scotia.

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Sound production and editing by Classic Jax Studios 

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