In this episode of the Tax Talk Podcast, we are chatting with David Prowse about the emotional side of exiting your business. You will speak with your account and lawyer about the tax and legal side of the sale, but do you consider the emotional aspects that come with selling your business? Do you have a plan in place that will ensure that you are …

In this episode of the Tax Talk Podcast, we are looking at how you can build your financial legacy through smart real estate investments. Real estate investment offers numerous opportunities for you to accumulate wealth and gain financial independence. With careful financial planning and the assistance of a professional accountant, you can get the …

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 mo…

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 Mana…

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 insig…

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 cons…

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 business Your timeline for transferring your business Set the purchase price for your business Determining the division of your assets upon your passing Are there charities you wo…

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 generate…

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 …

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 …

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 …

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 #reddee…

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 Ta…

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, you…

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…

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 - Estate Engagi…

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…

If you consistently make large donations each tax year and receive income via tax efficient sources (capital gains, employee stock options, etc.) or claim certain deductions (interest expense, certain employment expenses, etc.) you might be in for a unpleasant tax surprise in 2024 and subsequent years. On this episode, Jared explains how the Altern…

On this episode, Jared chats with Garth Epp. Garth is a growth-minded, strategic thinker, who never settles in the success of yesterday but always builds into the future. Life flows though Garth, to inspire and empower people who desire to move past their limiting beliefs to realize their true potential. Some of the topics discussed in the episode:…

On Oct 18th I had the honour of co-presenting at an estate planning seminar at the Innisfail Golf Club. If you missed the event or want to review some of the information that was discussed, you are in luck as this episode of the podcast is live from the seminar! Myself, Stephen van Santen and Caleb Henry chatted about the 6 most significant estate …

On this episode, Jared chats with Melanie Mitchell-Epp. Melanie asked to join the podcast in an effort to promote an estate planning seminar that Jared is co-hosting on Oct 18th at the Innisfail Golf Club at 7pm. She felt it was important to share her personal story with respect to a couple of estates she has recently been involved with to help lis…

On this episode, Jared chats with Dan Anders. Dan is a Certified Financial Planner and a Trust and Estate Practitioner through STEP Canada. After tragically losing his father in a fatal car accident at the age of 10, it is notable that Dan decided upon a career in the insurance and estate planning industry at the age of 25. He saw first-hand the st…

On this episode, Jared chats with Justin Lamb. Justin is a Chartered Professional Accountant, Chartered Business Valuator and a founding partner with Jones & Lamb LLP. Since 2014, Justin has been working in the field of financial litigation support and business valuation. In early 2022, Justin and his business partner, Mark Jones, started Jones & L…

On this episode, Jared chats with Stephen van Santen. Stephen van Santen has been a wealth advisor with Bridgeline Wealth since 2020. He focuses his time working with families, private corporations, estates and family farms. He is always learning and educating himself to better serve his clientele and particularly likes helping people navigate the …

On this episode, Jared chats with Colleen Gillam-Judd. Colleen is a Certified Financial Planner with IG Wealth Management. For over 15 years, Colleen and her team have been creating a space for high achieving Canadian families to find financial freedom, security and clarity. Colleen prides herself on clearly presenting financial options in accordan…

On this episode, Jared chats with Garth Epp. Garth is a growth-minded, strategic thinker, who never settles in the success of yesterday but always builds into the future. Life flows though Garth, to inspire and empower people who desire to move past their limiting beliefs to realize their true potential. Some of the topics discussed in the episode:…

On this episode, Jared chats with Bryce Kander. Bryce is a realtor with Realty Executives Alberta Elite. He has been INVESTMENT MINDED and interested in real estate from a young age and can see future potential in land and people when others can’t. Bryce loves helping people find long term success, especially through purchasing suited properties. S…

On this episode, Jared chats with Stephen van Santen. Stephen van Santen has been a wealth advisor with Bridgeline Wealth since 2020. He focuses his time working with families, private corporations, estates and family farms. He is always learning and educating himself to better serve his clientele and particularly likes helping people navigate the …

On this episode, Jared chats with Garth Epp. Garth is a growth-minded, strategic thinker, who never settles in the success of yesterday but always builds into the future. Life flows though Garth, to inspire and empower people who desire to move past their limiting beliefs to realize their true potential. Some of the topics discussed in the episode:…

On this episode, Jared chats with Justin Lamb. Justin is a Chartered Professional Accountant, Chartered Business Valuator and a founding partner with Jones & Lamb LLP. Since 2014, Justin has been working in the field of financial litigation support and business valuation. In early 2022, Justin and his business partner, Mark Jones, started Jones & L…

On this episode, Jared chats with Colleen Gillam-Judd. Colleen is a Certified Financial Planner with IG Wealth Management. For over 15 years, Colleen and her team have been creating a space for high achieving Canadian families to find financial freedom, security and clarity. Colleen prides herself on clearly presenting financial options in accordan…

On this episode, Jared discusses what you should be doing when CRA comes calling. 🎙️ Topic 1 – responding to a CRA audit - Be prepared. - CRA’s audit powers. - Time period of an audit. - Deadlines. - How to treat an auditor. 🎙️ Topic 2 – proactive steps you can take - What is audit insurance? - Is it right for you? #podcast #TaxTalkPodcast #SmallBu…

Welcome to episode 007 of the Bobcats, Bosses and Breakups series. On this episode, Jared chats with Chrystal Saxby. Chrystal Saxby is a banking and loans specialist with ATB Financial. She focuses her time in the residential mortgage department. You will find that she is genuine and trustworthy and treats her clients like family. She is committed …

Welcome to episode 006 of the Bobcats, Bosses and Breakups series. On this episode, Jared chats with Kelly Barber. Kelly Barber is a certified professional bookkeeper and the owner of B^2 Bookkeeping Services. She has been providing full cycle bookkeeping to small and medium sized businesses since 2015. Jared has had the privilege of working with K…

Welcome to episode 005 of the Bobcats, Bosses and Breakups series! On this episode, Jared chats with Stephen van Santen. Stephen van Santen has been a wealth advisor with Bridgeline Wealth since 2020. He focuses his time working with families, private corporations, estates and family farms. He is always learning and educating himself to better serv…

Welcome to episode 004 of the Bobcats, Bosses and Breakups series! On this episode, Jared chats with Garrett & Chelsea Zimmerman. Chelsea & Garrett Zimmerman are a husband-and-wife team who have recently launched Team Zimmerman Real Estate through Century 21 Maximum. They work with both buyers and sellers, in Red Deer and across Central Alberta. Te…

Welcome to episode 003 of the Bobcats, Bosses and Breakups series. On this episode, Jared chats with Caleb Henry. Caleb Henry is an associate at one of Red Deer’s most prominent law firms, Johnston Ming Manning LLP. His areas of practice range from corporate commercial to wills and estates. Don’t hesitate to contact him with your questions, as he w…

Welcome to episode 002 of the Bobcats, Bosses and Breakups series. On this episode, Jared chats with Garth Epp, a professional coach. Garth’s passion has always been people. He is an engaging and energetic coach who is passionate about helping people press toward and realize their true potential. He has a proven track record of working with and dev…

Welcome to the Tax Talk Podcast and episode #1 of the Bobcats, Bosses and Breakups series. On today's episode, I chat with Lyneta Grenier, a Commercial Insurance Advisor with BrokerLink Inc. in Red Deer. She provides insurance solutions to address all of your commercial needs. As a broker, she feels that it's essential to not only provide you with …

Breakup, spring 2007. I was 22 years old, with lots of potential but no real direction. I had just finished another winter season of work in Alberta’s oil and gas industry and was looking for something to keep me busy until the snow returned, and the lease roads froze again. Luckily, I found a job working as a labourer in a flat work concrete busin…

On episode 010 we'll look at the following: 🎙️ What are the implications of adding a joint owner as it relates to family law claims & division of property claims? 🎙️ Can adding a joint owner open you up to control & creditor issues? 🎙️ Will a transfer to joint ownership result in unequal treatment of my beneficiaries & potentially disinherit childr…

This is a special episode featuring Jared Pilon and his friend Alfred! In this episode, they look at the following: 🎙️ Estate tax issues arising from transferring assets into joint title 🎙️ Trust planning options that can be missed from joint title transfers Instead of completing probate planning in a silo, it is important to consider your entire e…

In this episode, we will look at the following: - Some common reasons why probate planning might be undertaken - Some common reasons why probate planning should be avoided - Adding a joint owner (joint tenants and tenants in common) - Capital gains tax - how this could apply to you - A case study that examines the transfer of a vacation property to…

Episode 007 to the #TaxTalkPodcast drops today! In life, it is said that the only two certain things are death and taxes. While both may be inevitable, penalties due to incorrect tax filings and stress stemming from not understanding the steps you are to take when a loved passes away, are not. If you have been named a legal representative of a love…

Building a successful business is difficult. Transferring that business to the next generation or to a third party via sale is even more difficult. While you may not be looking to retire or sell right now, your business succession plan should already be in place. A successful plan takes into account your family's dynamics, your retirement goals and…

When deciding to open a business, there are a number of factors to consider when deciding on the structure of the operation. The factors are not always clear and the outcomes can vary depending on your unique situation. Having the right structure in place can help your business succeed both in the short and long-term. #incorporation #smallbusiness …

Episode 4 of the Tax Talk Podcast is live! This episode will look at the following: - Benefits of transferring your business to an employee - Options for transferring shares - Mechanisms that should be put in place to protect your interests Transitioning your business to an employee can be beneficial for all parties involved. This decision also com…

Farm family estate planning only works if the plan is discussed among all family members, addresses all concerns presented and is flexible so changes can be made if required. No two farm families are identical. The same applies to estate planning options. Planning in advance will help your family avoid surprises, preserve family wealth and most imp…

Are you sick of Trudeau taking half of your income? Are you looking for ways to keep more money in your pocket? If you operate a small business and are looking for simple, yet effective income splitting ideas, this is the podcast for you. I explore two options on this episode: - prescribed rate loans - paying wages to family members #TaxTalkPodcast…