Brainstorming (+ tax)

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September 26, 2018  

Episode 015 - No More Credits, No More Books: the 2018 Update on Tax Assistance for Education Costs

There are 4 different credits that used to be available to students in 2016 that have since been eliminated. Do you know what they are?

September 19, 2018  

Episode 014 - Is it Time for a Canada Tax Shuffle Plan

Many tax planners may remember the tax plan called the Alberta Shuffle.  Is it time to look at changing the rates to create a Canada Shuffle? #CdnTax #cdnpoli 

September 5, 2018  

Episode 012 - Tax On Split Income (TOSI) - a Technical Explanation

In the last episode we had some fun with the Tax On Split Income (TOSI) rules, but it really is time to get serious about them. 

August 29, 2018  

Episode 011 - Tax On Split Income (TOSI) - The Small Business Escape Room Game

The Tax On Split Income (TOSI) rules are written like a bad “escape room” game. The way these rules are written, everyone is caught… unless you can escape… and the exits are not clearly marked.  In this episode, Cory G. Litzenberger tries to help you navigate these rules in a high-level tongue-in-cheek approach to them.

August 22, 2018  

Episode 010 - Even if You Follow the Law, Can You Pass the Smell Test?

Taxpayers that follow the letter of the law in the Income Tax Act might not realize that there is a "catch-all" provision that is what we call the "smell test." If it stinks like GAARbage, the CRA will reassess you.

August 15, 2018  

Episode 009 - The Management Fee GST Trap That You Didn’t Know Existed

You may have heard you don't need to register for GST until you have $30,000 in sales. However, this is not always the case, and in this episode, we target an outdated tool used by some practitioners - Management Fees.

August 8, 2018  

Episode 008 - Protecting Yourself From CRA Scammers and What To Do If You Are a Victim

It seems like every day there is a new scam pretending to be the CRA.  In this episode, we tell you how to protect yourself, what to watch for, and what to do if you, or someone you know, is a victim of a scam.

July 25, 2018  

Episode 006 - Moving Expenses - Are you eligible? If so, What Can You Claim?

At some point in their life, many people will move. Moving and the related costs to it can be stressful. Cory G. Litzenberger, CPA, CMA, CFP, C.Mgr takes a look as to how you might be able to get some money back on those costs related to your move. 

July 18, 2018  

Episode 005 - But How Can The CRA Find Out? - Indirect Verification of Income

Everyone has heard from one person or another, "how will they find out" when talking about the Canada Revenue Agency.  As a former Income Tax & GST Auditor himself, Cory G. Litzenberger, CPA, CMA, CFP, C.Mgr dives into the realm of Indirect Verification of Income (IVI) to show you some of the tools that the CRA may use in an audit.

July 11, 2018  

Episode 004 - Employee Vehicle Expenses and Public Transit

For many people, the cost of getting to and from work is getting expensive. What about those that have to use their own vehicle while they are at work? Are there any tax savings opportunities available?