Tax Talk Podcast

Effective marketing is crucial to business success, yet many small business owners struggle with it. Marketing, like financial planning, requires expertise and a structured approach. In this episode of the Tax Talk Podcast, we are shedding some light on this topic. We are joined by Peter DeWit from EDGE Marketing & Design. We'll be exploring the most necessary marketing aspects

You’ve spent years growing your company and building financial security. But are you maximizing your retirement savings? If you're over 40, an Individual Pension Plan (IPP) could be a smart strategy to help you secure your financial legacy while reducing your business taxes. In this episode, we are joined by Kit Richmond from MacDougall Wealth Management Group. We’ll break down

When managing a corporate real estate portfolio, the decision to move your rental properties into a corporation can have a significant financial impact on your rental operation. Understanding both the benefits and drawbacks of this process will enable you to make informed decisions suited to your circumstances and goals. Let’s look at the key insights and considerations of incorp

As 2024 draws to a close, proactive tax planning is essential for individuals and businesses to optimize their financial outcomes ahead of the 2025 tax season. This year’s economic landscape, marked by fluctuating interest rates and persistent inflation, has underscored the importance of creating financial and tax strategies. By addressing tax considerations now, you can effectiv

Ensure your business continues on successfully and put a plan in place to preserve your legacy with estate planning. Topics Discussed: Determining who will take over your businessYour timeline for transferring your businessSet the purchase price for your businessDetermining the division of your assets upon your passingAre there charities you would like to include, and is tax mitiga

After you've utilized your business as a vehicle to generate wealth, it's time to plan for a pension. What does this mean for your business? You need to take into consideration several factors when you are planning for a pension and the different options that are available to you. Let's discuss pension planning for business owners who have generated wealth through your business. To

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? - Ar

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 th

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 t