Brainstorming (+ tax)

Recording courtesy of CKNW 980 Vancouver and Global News Talk Radio.  All copyrights remain theirs.  Original airdate: August 19, 2021, at 8:32pm PDT Cory G. Litzenberger, CPA, CMA, CFP, C.Mgr speaks with Charles Adler about the impact inflation is having on small businesses during Canada's 2021 Federal Election 2021

Recording courtesy of CKNW 980 Vancouver and Global News Talk Radio.  All copyrights remain theirs.  Original air date: March 21, 2020 at 8:47pm PDT Cory G. Litzenberger, CPA, CMA, CFP, C.Mgr speaks with Charles Adler about the recently announced tax measures, and speaks about how to "Flatten the EI Curve" by using business payroll infrastructure as mentioned in Episode 029 - COVID - Brainstorming: Flattening the EI Curve

In this episode, Cory G. Litzenberger, CPA, CMA, CFP, C.Mgr shares his thoughts on a (potentially) more efficient way to get support payments out to everyone during this time, and flatten the curve of strain on Service Canada

In this episode, we dive into what this year's budgets come down to: Pipelines. Cory G. Litzenberger, CPA, CMA, CFP, C.Mgr takes a quick look at the Alberta 2020 Budget, and then dives into some grave predictions for what we could see in the Federal 2020 Budget.

Cory G. Litzenberger, CPA, CMA, CFP, C.Mgr takes a look at the tax and benefit proposals by the Alberta government's 2019 Budget released after the 2019 Federal Election results.

In this episode, Cory G. Litzenberger, CPA, CMA, CFP, C.Mgr talks about why the summer-time is the best time to think about your taxes for the year.

In addition to the Age Credit and Pension Income Credit, it is still troubling to find out that many seniors are still not aware of a tax saving strategy to help them save on their taxes. No, this is not one of those "too good to be true" issues. Listen to find out more. 

You won't believe what CGL's Cory Litzenberger has found in the original wording of the proposed legislation in the 2019 Federal Budget. 

CGL's own Cory Litzenberger​, CPA, CMA, CFP, C.Mgr dives into the proposed new Section 122.91 of the Income Tax Act, dissects what the Canada Training Credit really means, and how few will actually qualify.

While many Canadians in spring are only worried about filing their taxes for last year, there is another group of Canadians being told to start prepaying this year's taxes before they have even filed last year's. So what are the options for those Canadians being told to pay?

Recently Cory Litzenberger was interviewed by Charles Adler Tonight and NewsTalk770 in Calgary to speak about his article on Linkedin entitled "Just the Facts Ma'am" and how his career in analysing Income Tax legislation has helped cut through the emotions in this case and get to the facts at issue.

In this episode we look back at a couple court proceedings that would make the Canadian Taxpayers Federation cringe and look at what was at issue. #CdnTax #cdnpoli #FCC 

In this episode we do a recap of the 2016-18 tax changes, and what bigger compliance issues are having a major impact to small business in 2019. 

Think you understand foreign currency transactions, think again.  In this episode we go through what seems at first to be a very basic transaction, only to discover there is more than meets the eye when it comes to foreign exchange transactions and foreign currency bank accounts.

In this episode we talk about the changes coming to the CPP in 2019, and what to expect going forward as the contribution rate climbs from 4.95% to 5.95% over the next 6 years in addition to the increase in the Yearly Maximum Pensionable Earnings (YMPE) amount.

We commonly are asked, what difference does a fiscal year end make in a corporation?  In this episode we discuss some of the more common tax reasons and non-tax reasons for fiscal year end choices.

Are you concerned about the Tax On Split Income affecting your family's taxes? Then you are going to want to listen to this brainstorming episode on being unreasonable on purpose!

In this episode we take a look into the every changing mortgage rules and provide insight into how to navigate them.

Prior to 2012 Canadians did not have a choice to when they stopped contributing to the CPP. Now that there is a choice, we get into what your options currently are.

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?

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 

In this short 5 minute episode, we brainstorm a potential replacement system for the Canada Pension Plan that would benefit families more than the current system and explain why a change is needed. Tell us what you think. Good idea or not?

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. 

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.

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.

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.

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.

A common question is, who to pay first? or, what can I do to reduce my debt?  We look at what the Canadian debt statistics are telling us, what to expect with rising interest rates, and try to offer some ideas and solutions for those focused on getting rid of their debt.

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. 

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.

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?

Ever hear of the term "conjugal relationship" and wonder if it means what you think it means. For tax purposes there is more to the term "conjugal relationship" than "conjugal visits" 

In this episode we dive into the layman's term of "Casual Labour" to find out the actual tax issues affecting this misunderstood term.

In our first episode, we dive into the top ten things we think you should know about building your own business.