Tax Tip Thursdays with The Mad Accountant on 105.5 HITS FM
We are on the radio every Thursday morning at 8:10, with Morning Den host Dan Pollard, giving YOU our latest tax tips. You can listen to highlights and full episodes below, and even engage in discussion with us using the blog posts at the bottom of the page. Hear something you like? Please don’t hesitate to give us a call.
Full Radio Shows
Looking for Something Specific?
Full Episodes & Discussions
TTT: Lifetime Capital Gains
Budget 2024 has been a contentious one for lots of reasons, and the new Canadian Entrepreneurs Initiative (CEI) is not exception. While it is problematic for lots of reasons, it actually does benefit small businesses.
TTT: Tracking Investments
If you have investments (stocks, options, real estate -- anything), it's very important to keep track of it. Especially if you have kids! These affairs all need to be tracked anyway for tax purposes, but if these things ever get passed on to your kids they will definitely be looking for the info.
TTT: MyCRA & MyBusiness Accounts
Have you created your MyCRA account yet? What about for your business? These are absolutely essential these days, especially for businesses. In fact, we cannot do our jobs without access to your MyBusiness account, so you need to create one! Read here for instructions.
TTT: Don’t Over Deduct Taxes!
What are you "writing off" with your small business? Are you looking at every possible expense you could and saying it's for your business? Well, be careful. The CRA does pay attention to these things, and they do not take kindly to it when they catch people deducting things they shouldn't. If you get caught, it can be very expensive!
TTT: Mortgage Market Shifts
High interest rates are really starting to catch up with the Canadian housing market. By now, even those who were lucky enough to renew right before all the rate hikes have gotten caught up in it. So, what can you do?
TTT: True or False – Common Myths
How well do you know your tax rules? Are you up-to-date on all of them? The CRA changes their rules often, and that thing your uncle told you about to save some cash might not work anymore, or may have been wrong from the very beginning.
TTT: Business vs Personal Accounts
Running a business is a complicated thing most of the time. Why make it more complicated by having a separate bank account for it? Well, it will make things much simpler when you are dealing with the CRA, and it keeps everything more neat and tidy. It will save you money in the long run!
TTT: Moving Your TFSA
Do you have a TFSA with more than one financial institution? Are you looking to move funds from one to the other? That's great, and might be a smart move. But be careful! The CRA has specific rules about how you can do this and they will penalize you heavily if you do not follow them.