Mind Your Biz Podcast

LLC, S-corp, C-corp, tax treaties....for Canadian business owners, US tax can be confusing and intimidating. In Ep30 Brent Hoshizaki, CPA, CA, CPA (Washington) breaks all of this down for us, and more! Don't let US Tax rules intimidate you into not expanding your business into the US. Tune in to learn from an expert! Links: LinkedIn: https://www.linkedin.com/in/brent-hoshizaki-cpa-ca-cpa-washington-0a916515/?

The majority of Canadians will be affected by major changes in the New Budget. And we're all curious about how will we be able to better understand this. In this special episode, Mehul as a financial planner and a tax nerd discusses on the New Budget, what it means, and how it will affect the majority of Canadians. Mehul will also bring up the high-level points of reason budgeting and capital gains. Tune in to this episode and find out more about The 2022 Canadian Federal Budget Recap! Highlights: (02:17) Are income tax rates going up? (03:23) The Small Business Reduction (04:12) All You Need to Know: ​​Capital Gains Inclusion Rate (05:39) Details of the new registered plan (10:44) Understanding The Homebuyers Plan (11:29) What are the new deeming rules on the sale of a property? (15:01) Personal Tax Credits: How does it work? (16:56) The multigenerational home renovation tax credit (19:23) Interest Rates (Bank of Canada) Links: The Mind Your Biz Podcast Instagram: MIND YOUR BIZ PODCAST🎙️ (@mindyourbizpod) • Instagram photos and videos LinkedIn: https://www.linkedin.com/posts/mehulgandhicfp_mindyourbiz-smallbusinessbc-sbbc-activity-6871518247460720640-deRu/

Are you an business owner or incorporated professional with "healthy" retained earnings? This episode is for you! We are joined by Kim Moody, author, one of Canada's leading tax experts, and CEO of Moodys Private Client and Moodys Tax. Kim’s primary area of expertise is tax and estate planning for owner-managers of private corporations and executives, particularly those who have entered into the tax complexities that come with being affluent. Mehul and Kim get into the nitty-gritty details of surplus stripping and Kim shares his view on what entrepreneurs need to look out for when considering the strategy. In this episode, you will learn about our the Canadian Tax system, the difference between dividends and capital gains, and what to do with your retained earnings. Kim does not hold back and it is refreshing for someone in his position to "tell it how it is"! Highlights: [01:56]How did he get into the World of Tax? [09:39]Accounting 101: Surplus Stripping and Dividend [17:18]The history of capital gains tax in Canada? [19:06]How to Pay Yourself: Salary and Dividend [28:05]2017 Proposal on Surplus Stripping [40:07]Increasing Inclusion Rate: Potential Consequences [44:02]Long-Term vs. Short-Term Capital Gains: What's the difference? [44:13] The Idea of Having a Tiered Capital Gains Rate Links: Website:https://moodysprivateclient.com/ LinkedIn:https://www.linkedin.com/in/kimmoody/?originalSubdomain=ca Facebook:https://www.facebook.com/MoodysTax Twitter:https://twitter.com/MPCLLP Book:Making Life Less Taxing: Pay Attention to Your Taxes So You Can Pay Less Tax and Build a Strong, Smarter Canada

Are you safeguarding your business or your bank? Make sure your debts don't hurt your pocket or your business! Canadians, particularly business owners, must be knowledgeable about various insurances currently offered to them and take the information seriously; this will not only help them save money, but it will also keep their businesses from being jeopardized, and avoiding to risk their millions of dollars for a false sense of security. In another episode of Mind Your Biz Podcast, Mehul speaks with Matthew Inglis, Founder of Creditor Insurance Watchdogs, a division of Mobile Advisors. Matthew specializes in educating people and providing tools to help them get better rates and coverage on their creditor insurance. He will elaborate more on creditor insurance and how it can help you better your business. If you are a business owner, this episode would be a BIG help for you! What are you waiting for? Hit that play button now! Highlights: [01:15] The Thought Behind MOBILE ADVISORS [06:47] Creditor Insurance in a Nutshell [09:33] The Surface Issues of Creditor Insurance [14:25] Understanding the Differences Between Life Insurance Policy and Creditor Insurance [16:00] Why it is crucial to get a Licensed Insurance Professional [20:00] The importance of fact-checking and who answered the forms correctly upon time of application [24:10] How is Creditor Insurance Priced + Pricing of the Premiums for Creditor Insurance versus Traditional Insurance [26:29] What is the difference between “I'm going to lend you a million dollars, and I'm going to charge you a million dollars to ensure it”? [28:41] One tier bank that offers more than a million dollars worth of creditor insurance protection [33:09] Why should business owners develop a relationship with financial advisors, financial planners, and licensed insurance professionals? [34:02] What should be your next step as a business owner? [38:19] Take the creditor insurance. Get the loan. Cancel it: How does that work? [40:48] Categorizing Creditor Insurance Products Links: Website: https://mobile-advisors.ca/about-us/ LinkedIn: https://www.linkedin.com/in/matthew-inglis-4b960069/?originalSubdomain=ca Email: matthew.inglis@mobile-advisors.ca

Problems are unavoidable and can arise at any time, and business owners are no exception, but I'm sure you wouldn't want to deal with disagreements the size of a whale. Even so, this should not be a daunting task because it only requires you to take the opportunity to address and even clarify issues through shareholder agreements. Not just that, you will also be able to avoid disagreements which makes it easier for you to succeed and improve with only minimal problems along the way. In this episode of the Mind Your Biz Podcast, we are joined by Steve Parr, Founder of Parr Business Law as he talks about his journey in the law world and discusses straightforward shareholder agreements and why it is important in your business, plus he will talk about the Five D’s of why you should get this agreement. Take some time to unravel the importance of shareholder agreements by tuning in to this episode and don’t forget to share it with your fellow entrepreneurs! Highlights: [01:44] Parr Business Law’s Origin Story [08:28] Directional Shift: Rental Property Management to Business Law [10:07] What caused him to create a practice that is flexible? [13:57] Hiring for Remote Employees [18:36] What is a Shareholder and Partnership Agreement + How it Differs from one another [19:50] Consequences to Creating Partnerships [21:20] The FIVE D’s [23:55] Who needs a Shareholders’ Agreement? [25:55] When is the right time to get a shareholders agreement? [30:35] How can a complimentary professional convince business owner clients to have a shareholders’ agreement? [34:11] The Barriers Business Owners Face to Get the Shareholders' Agreement Done [42:22] Rules of Intestacy from Shareholder or Business Partners [51:20] Costs of a Shareholder’s Agreement Links: Website: Parr Business Law LinkedIn: https://www.linkedin.com/in/steveaparr?originalSubdomain=ca Twitter: SteveParrVic

In today's episode of Mind Your Biz Podcast we are joined by Jami Monte - CPA, bookkeeping coach and owner of Monte CPA. Jami empowers small business owners by coaching them on how to manage their own bookkeeping and how to leverage the financial data. We discuss how having a clear understanding of your business's finances can help owners make strategic business decisions. We also get real about write-offs and P/L reports. Tune in to this high-energy episode! Be empowered and learn wholesome information and advice to take your business to the next level! Highlights: [1:55] What made her decide to become a CPA? [05:10] How she ends up as a yoga teacher [08:25] What was her stepping stone to entrepreneurialism? [10:22] How long has she been doing yoga? [14:17] Her reason for using her CPA license [17:38] Bookkeeping: All You Need to Know [20:50] What are some of the ways that business owners can find or have more money now? [21:30] What is a Tax Write-Off? [33:09] Why you should DO your own bookkeeping [39:25] The Basics for Bookkeeping [42:10] Why would you need a separate account for your business? [45:15] What is reconciling for business owners? [59:00] When should you outsource your bookkeeping? Link: LinkedIn: https://www.linkedin.com/in/jamimonte/ Website: jamimonte.com Chillbooks (formerly Bookkeeping Bootcamp as referred to in podcast): https://jamimonte.com/chillbooks/ Instagram: https://www.instagram.com/jami.monte/

Having a good financial plan is crucial in the event of a critical illness. Having sufficient finances to cover all expenses can make the situation less stressful for all parties involved. Critical illness insurance is never thought about enough: the stage of life, retirement decumulation, the different risks that come with it… We listen from friends, neighbors, advisors, or even the web. Everybody has full access to information but it’s really important to slow down and let someone in that industry explain everything to you before making an informed decision. In today's crossover episode of Mind Your Biz Podcast we are joined by Dr. Yatin Chadha. He is the host of Beyond MD Podcast, which he launched in 2020, that focuses on financial literacy. The content is provided by subject experts but is steered by Dr. Yatin Chadha to ensure relevance to healthcare professionals in Canada. Tune in as we uncover more of Critical Illness Insurance! Highlights: [07:24]Demystifying Critical Illness Insurance (CI) and its difference with Disability Insurance (DI) [10:08]What is the coverage of Critical Insurance? [12:41]Living in Canada: Do I Need It? [17:47]Critical Illness: Personal, Corporate and Shared Ownership (Dollar CI) [20:44]Return of Premium (ROP): The Popular Feature of CI [27:44]What is Loss of Independence? [29:46]Two Different Types of Policies for Children [33:45]Considering CI: Must-Ask Questions [37:35]Retirement: What is Sequence of Return [43:02]Retirement: What is Longevity Risk Links: Website:http://beyondmdpodcast.com/ LinkedIn:https://www.linkedin.com/in/yatin-chadha-29074b109/ Facebook:https://www.facebook.com/yatin.chadha.3 Instagram:https://www.instagram.com/beyond.md/ Twitter:https://twitter.com/yatinchadhamd Things Mentioned: Ontario Securities Commission Advisor’s Eagle Mayor Hazel McCallion of Mississauga

This week we are joined by Jaxon Howell; owner and founder of Hats by Howell. Jaxon is a true artist in every sense. He is a professional photographer, carpenter, and hat maker who took on the adventure of turning his passion into a business by leaving his flight attendant career to become an entrepreneur. Tune in as we talk about how we can turn our artistic side into a business and listen to our guest’s inspiring entrepreneurial story! Highlights: [02:15] All About Hats by Howell [04:20] What do hats mean to him? [05:41] What made him start a carpentry business? [08:00] What pushed him to go full-fledged on his entrepreneurial role and left the airline industry? [10:06] How did he mitigate some of those turbulent times at the beginning of his transition? [12:20] The Power of Asking in Entrepreneurship [14:57] The Importance of Shifting from Scarcity to Abundance Mindset [18:30] How did he start with the Hats by Howell? [27:50] Did he find a certain amount of courage making this transition based on the success of the previous transition? [31:45] Why is it so important to understand finances and money as a kid? [35:00] What would be that one piece of advice that he could give to someone on following their passion and turning it into a business? [39:20] How can you mitigate any risk over and above that tolerance to still go and pursue what you want to do? Link: https://www.instagram.com/hatsbyhowell/?hl=en

In today’s episode, we are joined by Pav Manchanda. He is the founder of ClearBooks Technology Inc. and as a finance leader, Pav brings experience from both established and high-growth environments at a range of firms. Join us on this episode and learn how he founded his business, the qualities investors seek in a fast-growing company and how to help digital start-ups survive and thrive through the use of ClearBooks Technology. Highlights: [01:05]What is ClearBooks Technology all about? [03:50] How did he get his start as an accountant? [09:23]What qualities do investors seek in a fast-growing company? [12:53]Tech industries that will make you feel at ease [19:15]How does he want to grow his business? [22:40]What impact did Pav's family and community have on him as he grow up? [29:56]Human or Business Approach: De-escalating Situations in Business Links: Website:ClearBooks Technology Inc. LinkedIn:Pav Manchanda Youtube:Pav Manchanda

Kicking off Season 2 with influencer Alex Cattoni - Queen of copywriting! Alex is a copywriter, marketer and the founder of The Copy Pose, where she teaches people how to work as freelance copywriters. Tune in to this podcast now as she shares how she started at MindValley and her transition to building her own company which has been generating successful coaching programs. Highlights: [02:20]What is Mindvalley? [08:54]How are small businesses decentralized? [12:55]The Story Behind “The Copy Posse” [23:23] Why did Alex choose Youtube as her platform? [27:18]The History of Copywriting [30:43]What is Content Writing and SEO? [36:11]Why hire a Professional Copywriter instead of doing it yourself? [39:10]Email Marketing: What is this course all about? Links: Website:alexcattoni.com LinkedIn:Alex Cattoni Facebook:Alex Cattoni & The Copy Posse Instagram:copyposse Twitter:Alex Cattoni Youtube:Alex Cattoni Things Mentioned: Mindvalley Deepak Chopra How to Lose A Guy in 10 Days (Film) Matthew McConaughey

This week we speak to John Vuong - Founder of local SEO Search. John has a passion to help small and medium-sized businesses grow online and has quite honestly seen it all! Join us on this episode to hear him share how he got into business and what successful marketing looks like. Highlights: [02:12] What is Local SEO Search all about? [06:30] What inspired him to do more and how did he start his career in entrepreneurship? [23:46] What are the challenges he encountered that contributed to his success today? [26:28] The importance of time, experience, and relationship in the business [30:05] How to figure out your purpose and happiness in order to succeed [33:23] What is a click funnel? Book: Who Not How by Dan Sullivan Link: localseosearch.ca

Meet this week's guest; Bob Lawrence - a Chartered Professional Accountant , Chartered Business Valuator and Certified Exit Planning Advisor. Tune in to hear our information-packed discussion about business acquisition, valuation, private equity deals and the effects Covid-19 has had on the M&A world. Highlights: [01:04]The Story of Bob and VEER [09:16]What are the common things that entrepreneurs do that make a difference in their businesses? [14:02] The Importance of Valuing Your Business [21:12]What are the effects of the pandemic in the supply chain and AMA world [32:56]Strategic or Ethical: The Difference in Business [37:37] Downside of Private Equity Business in Short Cycle Links: Website: http://veeradvisors.com/ LinkedIn: Bob Lawrence

BIZ NATION! Episode 18 with Meg O’ Hara, the INCREDIBLY TALENTED contemporary Canadian landscape painter and winner of the prestigious BC Business 30 Under 30 award. Meg is the "foremost artist in the ski industry" and has been featured in Entrepreneur Magazine through her original artwork. She is highly sought after and her pieces are collected by private and corporate clients across Canada, the US, and Europe. Tune in to hear us talk about the intersection of Art and business. Check it out! Links: Website: https://www.megoharacreative.com/ Instagram: https://www.instagram.com/megoharacreative/?hl=en

When financial advisers and their customers' attorneys work together, they can give you more holistic guidance. Clients frequently think of their financial lives in compartments. If they are required for advice on finances, they contact a financial planner. They hire an accountant or an attorney if they need advanced tax tactics or want to structure the sale of their business. How can Lawyers and Financial Advisors better help clients with financial planning using their areas of expertise? Join us in this crossover episode of the Mind Your Biz Podcast. If you need to understand better finances, money flow, retirement planning, and more, this podcast is for you. So what are you waiting for? Give this episode a play! Highlights: [05:07] Lawyer and Financial Advisor: What is the process for collaborating using their areas of expertise? [08:32] The Value of Understanding Tax Consequences [10:51]The 3-legged Stool in State Planning [14:20]Beneficiaries Designation and RIF: All You Need to Know [21:54] Money Flow Complications in Blended Families [31:46] Differentiating Financial Planning from Retirement Income Planning

Biz Nation! EPISODE 17 dropping this week! Shanalisa Keller @canadianfinancegal and I get NERDY 🤓 on business financial basics. We talk sales metrics, profit margins, making You're gonna to want to listen to this many times over 💛🚀 Links: Canadian Finance Gal LinkedIn: Shanalisa Keller Website: New Workshop @canadianfinancegal

“Why do we do this? It comes down to trust and credibility” - Jonathan Narvey In today’s episode, we are joined by Jonathon Narvey. He is the Mind Meld PR Inc. CEO and has worked both sides of the media- PR divide. He learned the tools of the storytelling trade as a journalist and columnist for such tech, politics, and culture-focused publications as BetaKit, the National Post, BC Living, and assorted newspapers and magazines. Today, he runs a PR agency in Vancouver, BC (AKA Silicon Valley North) that gets media coverage for tech companies. Links: Website:https://www.mindmeldpr.com/ LinkedIn:Jonathan Narvey Facebook:Jonathan Narvey Twitter:Jonathan Narvey #vancity #vancouverbc

Punit Dhillon is incredible. He runs a successful biomedical business, he is involved with a magazine, he is a philanthropist, he is a competitive triathlete.... Oh.... and he also wrote a book, Catapult: How to Think Like a Corporate Athlete to Strengthen Your Resilience... How does he do it? Listen to this episode to find out :) Link to book on Amazon Catapult: How to Think Like a Corporate Athlete to Strengthen Your Resilience https://shorturl.at/gotK5 Instagram: @punitdhillon @yellcanada LinkedIn: https://www.linkedin.com/in/punit-dhillon/ #vancouver #vancity #vancouverbc

The fitness industry was hit hard by the pandemic. For one company's leader, that mean tapping into his resilience and courage in order to pivot swiftly to keep the business going while maintaining his clients' safety. Carl Ulmer is my good friend of mine. He is the Director of Operations for Club16 Trevor Linden Fitness and She's FIT! and was the key driver in their navigation of the pandemic-induced lockdown. This guy knows a thing or two about leadership and you're going to want to listen to what he has to say. When were teammates on the basketball court back in high school, Carl always led by example and taught me the true meaning of hard work and toughness. Carl will be the first to tell you that he wasn't always the most athletic player on the floor, but he made darn sure to outwork every single last person...and it earned him a Div I scholarship... and so much more. I recommend you listen to this episode. I recommend you listen to Carl 💛🚀 #vancouver #vancity

Biz Nation! Do you ever feel that if you could just get more organized, your business would be better? Better sales, better profit, better customer engagement, and..... LESS STRESS! Organization Consultant Jane Stoller aka Organized Jane joined us on this episode to talk about how to get yourself and your business organized. This episode is full of practical tips and advice that you can implement right away. Enjoy the episode and don't forget to connect with Jane using the links below :) Website: organizedjane.com/ Instagram: instagram.com/organizedjane/ YouTube: youtube.com/c/JaneStoller Facebook: facebook.com/OrganizingJane/?ref=bookmarks Check out Jane's Books: organizedjane.com/shop #vancouver #yvr #vancouverbc

Biz Nation! Courage is essential in business. This episode's guest, the courageous and multi-talented Olivia Lovenmark, made a bold entry into the Read-to-Drink adult beverage world with her company, Coupe Beverages and her product line Duchess, a lightly carbonated and flavored cocktail in a bottle. Listen to learn how she did it! Website https://www.duchesscocktails.com/ Instagram: https://www.instagram.com/duchesscocktails/?hl=en Coupe Beverage LinkedIn: https://www.linkedin.com/company/coupe-beverages/ Olivia's LinkedIn: https://www.linkedin.com/in/olovenmark/ #Vancouver #British Columbia #Canada