Tax Season 2025: Turning Preparation into Planning (Ep.63)
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Tax Season 2025: Turning Preparation into Planning (Ep.63)
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概要
Tax season doesn't have to be a source of stress; instead, it can be the ultimate annual check-up for your financial health. In this episode, Tim Borody walks you through the essential steps to prepare for your 2025 Canadian tax filing while shifting your mindset from simple "tax prep" to strategic "tax planning".
Navigating the 2025 Tax Landscape
- Preparation vs. Planning: Discover the critical difference between tax preparation—the backwards-looking process of filing—and tax planning, which is a forward-looking strategy integrated into your long-term financial plan.
- CRA Watchlist & Digital Shifts: Stay ahead of the CRA’s push for digital filing and their increased focus on data matching for unreported income from side hustles, freelance work, and the gig economy.
- The "Refund" Trap: Learn why a massive tax refund isn't necessarily a win, but often a sign of poor cash flow management and missed opportunities to keep more money in your pocket throughout the year.
As you gather your slips and organize your folders, join Tim to learn how to use this season as a catalyst for better financial habits and a clearer vision for the life you deserve.
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