The Tax Chick Podcast

The Tax Chick Podcast

By Amanda DoucetteBusinessEducation
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The Tax Chick Podcast episodes

  • Musings of a Tax Chick - Practical issues to consider on the death of the 1st spouse

    So often when completing our estate planning, we focus on what will happen when the last spouse dies.  But what about after the death of the first spouse?  In this episode, I outline some key planning considerations to keep in mind on the death of the first spouse, including: cash flow planning, access to credit, and practical considerations!

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    16 min
  • Musings of a Tax Chick - Non-arm's Length Transfers and s. 160 of the Income Tax Act

    Switching it up today and chatting about a very specific section of the Income Tax Act... s. 160.  This section can be used to assess one person for the tax debts of another person... it is typically applied between spouses and/or between parents and children.  However, some recent case law has resurrected a discussion on this topic, including who is really a "spouse" for the purposes of this section.

    Update (05/07):  The episode did not fully load on some streaming platforms so I have reloaded the audio!   

    RESOURCES DISCUSSED ON THIS EPISODE

    • STEP SK - May 7 event on Canadians owning US real estate
    • Enns v. Canada
    • Harvard Properties
    • Barwicz v. HMTK

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    16 min
  • Musings of a Tax Chick - Unpacking Canada Revenue Agency's Informal Disclosure Guidelines

    A recent LinkedIn post of mine sparked some great informal discussion about responding to CRA "proposal" letters.  So, it seemed like a great topic to chat about on the pod!

    Do you know what information/documentation you can obtain through informal disclosure with CRA?  Check out this episode to learn more about:

    • What is a "proposal" letter?
    • What are the usual deadlines for response, and why would those deadlines be shortened?
    • What is a "large corporation" and what rules apply to them?
    • What CRA reports can you access through informal disclosure and why should you ask for them?

     RESOURCES DISCUSSED ON THIS EPISODE:

    • Informal Disclosure Guidelines

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    13 min
  • Tax Time Made Fun: Your Ultimate Prep Guide for the Season!

    In this episode, I am diving into the must-have documentation you need to gather before tackling tax season. Whether you’re filing on your own or working with a professional, this episode will help you organize everything you need to make tax time a breeze. Tune in for tips on what documents to collect, how to stay organized, and avoid common mistakes that could cost you later!

    RESOURCES DISCUSSED ON THIS EPISODE:

    • The Finance Cafe 
    • Chillbooks 
    • Season 5 (Episode 17) Essential insights every business owner should know 
    • Season 3 (Episode 5) The three gifts that only bookkeeping can give you! 
    • Season 3 (Episode 3) Three Common Audit Flags 

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    14 min
  • Taxes Filed? Now What? Your Next Steps After Hitting Submit!

    You’ve filed your taxes—great job! But the work isn’t quite over yet. In this episode, I'm walking you through the essential steps you need to take after submitting your taxes. From saving and reviewing your Notice of Assessment to paying any taxes owed, and some tips on how to update your financial records and prepare for next year, this episode has what you need to stay ahead of the game!

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    11 min
  • Season 6 Premiere: What's Coming Next!

    Season 6 is here!!!!   Check out this short episode to learn a little bit about what you can expect on the pod this season and also for a refresher on some great episodes from last season!  I also include a quick update on what I have been up to the last few months.

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    16 min
  • Getting Paid to Post: The Tax Scoop for Influencers & Creators! (with special guest, Jami Monte!)

    In this episode, we’re breaking down all the tax essentials for social media influencers, content creators, and anyone monetizing their online presence. From referral codes and affiliate links to brand collaborations and sponsored trips, we cover what counts as income and what you need to report. We’ll also talk about the tricky area of receiving gifts and how to handle barter transactions—yes, those fancy purses and free hotel stays could come with tax implications!

    Join me and special guest, Jami Monte as we dive into:

    • What counts as income (7:05)
    • Barter transactions and gifts (9:55)
    • Self-assessed HST/GST on barter deals: (16:30)
    • Write-offs for content creators (18:04)
    • Potential solutions if you have messed up on your filings (26:55)
    • Invoicing (29:00)

    Tune in to learn how to keep your finances in check while you grow your online empire!


    CONNECT WITH JAMI:

    • Website: jamimonte.com
    • Instagram: @jami.monte
    • YouTube: @jamimonte
    • LinkedIn: https://www.linkedin.com/in/jamimonte

    HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

    34 min
  • Musings of a Tax Chick: Top 10 Tax Tidbits for 2024!

    My Christmas gift to you this year is an episode full of tax tidbits that you can share at your holiday party - check out this episode for my rundown of the tax issues that made the news for me in 2024:

    10. The Taxpayer's Ombudsman Report
    9.  Auditor General's Report - the CEBA Program
    8.  CRA New Audit Powers
    7.  Digital Services Tax
    6.  Where do we stand on Alternative Minimum Tax?
    5.  The GST/HST Holiday
    4.  Audits on COVID benefits
    3.  Bare trusts...
    2.  Capital Gains...
    1.  The Fall Economic Statement - stay tuned for December 16th!

    Merry Christmas and Happy New Year!  I will be back with Season 6 of The Tax Chick Podcast in March 2025!

    RESOURCES DISCUSSED ON THIS EPISODE:

    • Taxpayer's Ombudsman Report (2024)
    • Auditor General Report
    • Digital Services Tax
    • GST/HST Holiday
    • Bare Trusts - exemption for filing

    HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

    20 min
  • You can be tax savvy too...Essential insights every business owner should know

    In this episode, I chat with special guest, Corey DeJean, owner of CJDJ Accounting Services and current Chair of the Association of Tax and Accounting Professionals ("ATAP").  Corey and I get to hang out in January every year at the ATAP Refresh Conference in Toronto - we have had so many great conversations about collaboration, sharing resources and the importance of educating our clients about tax.  It was about time that I got her on the pod!

    Corey and I dive deep into the crucial tax information every business owner should know to stay compliant, maximize deductions, and optimize their financial strategies.  Whether you’re a startup founder or a seasoned entrepreneur, understanding taxes can make a significant difference in your bottom line!

    Here is a sneak peek of what we chat about:

    1. What is ATAP and how can it help you?
    2. Your business is NOT you!
    3. There is a huge difference between revenue and the $ in the bank.
    4. Not everything is deductible.
    5. There is no "one size fits all" strategy for compensation.

    RESOURCES DISCUSSED IN THIS EPISODE:

    • ATAP LinkedIn Account 
    • https://atapcanada.ca/ 
    • Want to learn more about your numbers?  Check out: https://thefinancecafe.ca/
    • Need a laugh? Click here for the Schitt's Creek write-off scene :)

    CONNECT WITH COREY:

    • Corey DeJean (LinkedIn) 

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    32 min
  • Musings of a Tax Chick: Falling on bended knee... what you need to know about the Voluntary Disclosure program

    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? 

    Canada Revenue Agency's Voluntary Disclosure Program might just be for you!  I have had a couple calls this past week about the "VDP" program, and I thought this might be a great time to dispel some myths.

    In this episode:

    1. I discuss what the program is, and when you would choose to apply.
    2. Provide some insight into the criteria for a successful application
    3. Talk next steps.

    It is so important to remember that VDP does not get you out of paying the tax - in fact, you have to prepay the tax up front-when you make the application!  It just offers amnesty from penalties.

    RESOURCES DISCUSSED ON THIS EPISODE:

    • CRA: Voluntary Disclosures Program 

    HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

    17 min

About The Tax Chick Podcast

From the publisher's feed

Tax is complex, but it does not always have to be so complicated and shrouded in mystery. Host Amanda Doucette is a self-proclaimed foodie, spin class and Pilates enthusiast, and a tax lawyer. She…

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