Tax Talk Podcast

Turning business revenues into income that you can invest, leading to long-term wealth should be the goal of every business owner.If you're ready to take your business to the next level, you need to stop working as an employee within your business and start focusing on being an investor instead.Topics discussed on this episode:- Is there a need to incorporate your business?- Are yo

You've heard these quotes before: 'cash is king', 'the number one reason that businesses fail is due to cash flow issues'.The first aspect of the 'Planning Process' looks at the fundamentals of your business and helps you ensure that you are building a strong foundation to work from and ultimately generate wealth.---------------------------------------------------------------------

According to Investment Executive, individuals in 8 of 10 provinces face top tax rates exceeding 50% in 2024. In Alberta, income in excess of $355,000 in 2024 will expose you to the top rate of 48%.This podcast will look at the benefits of donation over taxation and how you can use donations to reduce your tax burden, support an organization that you value and take back some of the

The opportunity to create additional income by renting your property or basement suite through Airbnb or similar platforms has become increasingly popular in recent years.If you are generating income through Airbnb, it is important to understand your tax & GST/HST considerations, reporting requirements and the expenses that can be applied against this income.This episode of the

On this episode, Jared looks at the Liberal government's proposed hike in the capital gains inclusion rate.- What does this mean for you personally?- What about your business?- Should you take action before June 24/24?- Steps you should take in response to the budget announcement.#legacytax #legacy #tax #cpa #accountant #familybusiness #reddeer #didsbury #trochu #alberta #buildyour

On this episode, Jared highlights some of the biggest items impacting your 2023 personal tax return.If you haven't filed your return yet (or you want some advice for 2024), you won't want to miss this episode.Discussion topics:- Working from home- Real estate cautions- Real estate possibilities- Increased interest rates- Underused Housing Tax- Bare trust reporting#legacytax #legacy

According to recent statistics, 22 million Canadians have some kind of life insurance policy in place.Are you one of them?On episode #37 of the Tax Talk Podcast, Jared sits down with Colleen Gillam-Judd with IG Wealth Management to discuss the importance of having the proper insurance policy in place to protect your business and most notably, your financial legacy.Some of the topic

According to recent statistics, nearly 70% of business owners do not have a succession plan in place.Additionally, over $2 trillion in business assets could change hands over the next decade in Canada.On episode #36 of the Tax Talk Podcast, Jared sits down with Stephen van Santen of Bridgeline Wealth Strategies to discuss the importance of having a succession plan in place.Some of

Regardless of your age, how long your business has been operating or any other factor you can think of, you are in the PLANNING PROCESS journey. Everyone is at a different stage and has different goals.With that in mind, why not put a plan in place that helps you capitalize in the following four areas:- Business- Wealth- Pension- EstateEngaging in the PLANNING PROCESS can provide a

As another year ends, it is important to review your finances and see if there are ways to improve your tax position heading into the new year. This year has been marked with significant volatility and rising interest rates & inflation should be top of mind in your tax and financial planning.Top issues to consider heading into 2024- Tax deadlines- Investment goals- Family situa