Gabrielle Talks Money
Gabrielle Talks Money
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ACCOUNTANT EXPLAINS Budget 2024’s Controversial Tax Changes | Capital Gains, Entrepreneurs, Crypto
Free Budgeting Template: www.gabrielletalksmoney.com/resources
The 2024 Budget was released by the Government on April 16, 2024, and there were shocking changes that have caused a lot of confusion and drama. With the June 25th, 2024 timeline approaching, the proposed changes are supposed to take effect. In this video, let's go over how the tax changes might impact you.
00:00 Start Here
00:33 Capital Gains Tax
01:32 How Capital Gains Tax Works
03:33 Example Calculation of Capital Gains Tax
04:30 Why is the change to the Capital Gains Tax
06:05 Tax Breaks for Entrepreneurs
08:01 Capital Gains Tax For Corporations
09:21 Crypto Asset Reporting
Disclaimer: Note this video is not financial nor accounting/tax advice and should be used for entertainment purposes only. Consult with your own financial advisor, accountant and/or tax advisor for advice related to your specific situation.
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*This description contains some affiliate links, meaning that I may earn a minimal commission if you click through and use these links (at no additional cost to you).
________________________________
CONNECT WITH ME
💼 Tax & Accounting Services: www.balanceandwealth.com/
🌍 Website: www.gabrielletalksmoney.com
📸 Instagram: @GabrielleTalksMoney
________________________________
WHO AM I:
Gabrielle is a CPA and Tax Expert, as well as the founder of Balance + Wealth CPA, a licensed CPA firm that specializes in Tax. Prior to starting her business, Gabrielle worked as a Tax Manager at one of the Big 4 Accounting Firms for 7+ years, advising Fortune 500 companies. Gabrielle posts weekly videos on personal finance, business finance, and tax tips.
Переглядів: 2 343

Відео

ACCOUNTANT EXPLAINS How to Start a Business in 5 Steps (with No Money)
Переглядів 2,8 тис.14 днів тому
[OWNR] Start a Sole Proprietor or Corporation in Canada. Save on lawyer fees & get 15% off partners.ownr.co/022nlsdh7t5m [DOOLA] Form your LLC or C Corp in the US. Start your business and have Doola take care of all your compliance in one place partnersps.doola.com/c6fqdmd8iut9 [QUICKBOOKS] Organize your finances and send invoices that get you paid fast. Get 80% off for 6 months: quickbooks.par...
ACCOUNTANT EXPLAINS The FASTEST Way To Pay Off Debt in 2024 (With Live Tutorial)
Переглядів 72 тис.28 днів тому
GET YOUR FREE BUDGETING TEMPLATE: www.gabrielletalksmoney.com/resources GET YOUR 2024 BUDGET & NET WORTH TRACKER: www.gabrielletalksmoney.com/shop 00:00 Start here 01:51 Step 1 03:43 Step 2 05:51 Step 3 08:22 Step by Step Live Tutorial & Free Template 18:33 Tips to Keep You Motivated [EQUIFAX] Protect yourself against Identity Theft and take control of your Credit Score with Equifax Complete™ P...
ACCOUNTANT EXPLAINS How to Invest in Your Tax-Advantaged Accounts | RRSP, TFSA, FHSA
Переглядів 3,4 тис.Місяць тому
Protect yourself against Identity Theft and take control of your Credit Score with Equifax Complete™ Premier: api.fintelconnect.com/t/l/66314851be52ec001bd58764 00:00 Intro 00:54 Can you Stomach This? Answer 3 Key Questions 02:09 How I Was a Victim to Identity Theft & Protect Your Credit Score with Equifax 04:19 Investor 1: Risk Adverse/ Short Term-Time Horizon (HISA, GIC, Bonds) 08:52 Investor...
My Formula to a 6 Figure Net Worth in my 20s (While Still Enjoying Life)
Переглядів 4,6 тис.2 місяці тому
GET YOUR 2024 BUDGET & NET WORTH TRACKER: www.gabrielletalksmoney.com/product-page/2024-budget-net-worth-tracker-template GET YOUR FREE BUDGETING TEMPLATE: www.gabrielletalksmoney.com/resources 00:00 Intro 00:26 Habit #1 Learn to Say No 01:53 Habit #2 Take Calculated Risks 04:05 Habit #3 Don't Take Rejection Personally 06:16 Habit #4 Break free from the Spotlight Effect 07:30 Habit #5 Question ...
ACCOUNTANT EXPLAINS How to Pay Less Tax to the CRA THIS Tax Season | Act before FEB 29, 2024
Переглядів 29 тис.4 місяці тому
[WEALTHSIMPLE] Earn💰$25 Cash Reward when you sign up & fund a Wealthsimple Account: my.wealthsimple.com/app/public/trade-referral-signup?code=HJXFMQ [QUESTRADE] Earn💰$50 Cash Reward when you sign up & fund a minimum of $1,000 using my CODE 666020718448695 start.questrade.com/?oaa_promo=666020718448695&s_cid=RAF14_share_link_refer_a_friend_email&RAF14& FREE RESOURCES ➡️ FREE GUIDE on TOP 10 TAX ...
ACCOUNTANT EXPLAINS How Much Home You Can Afford in 2024 | Buying vs. Renting Your Home
Переглядів 19 тис.4 місяці тому
Pay your Rent by earning Rewards & building Credit with Chexy: www.chexy.co/? HOW MUCH HOME CAN I AFFORD CALCULATOR www.gabrielletalksmoney.com/product-page/how-much-home-can-i-afford-calculator FREE RESOURCES www.gabrielletalksmoney.com/resources 00:00 Intro 00:39 How to Earn Rewards & Build Credit When Paying Rent in Canada 02:21 5 Factors Affecting Your Home Affordability 03:10 Calculate How...
ACCOUNTANT EXPLAINS How Much Car Can You Afford | Avoid becoming CAR POOR
Переглядів 352 тис.4 місяці тому
HOW MUCH CAR CAN I AFFORD CALCULATOR www.gabrielletalksmoney.com/product-page/how-much-car-can-i-afford-calculator FREE RESOURCES www.gabrielletalksmoney.com/resources 00:00 Intro 00:55 5 Major Factors Affecting Monthly Car Payments 01:50 3 Formulas to Keep in Mind 03:20 Calculate How Much Car You Can Afford Disclaimer: Note this video is not financial nor accounting/tax advice and should be us...
ACCOUNTANT EXPLAINS Important TAX CHANGES in CANADA for 2024 | TFSA, RRSP, FHSA, CPP & Tax Brackets
Переглядів 696 тис.5 місяців тому
Are you a Content Creator, Consultant or Coach in Canada looking for a Tax Accountant? Contact us here to see how we can help you and your business: www.balanceandwealth.com/contact-us 00:00 Intro 00:57 New Shocking Changes 03:15 TFSA 04:38 RRSP 06:22 FHSA 08:04 CPP 10:49 Tax Brackets Disclaimer: Note this video is not financial nor accounting/tax advice and should be used for entertainment pur...
ACCOUNTANT EXPLAINS How I Manage My Money: Income, Expenses & Savings
Переглядів 127 тис.5 місяців тому
GET YOUR 2024 BUDGET & NET WORTH TRACKER: www.gabrielletalksmoney.com/product-page/2024-budget-net-worth-tracker-template GET YOUR FREE BUDGETING TEMPLATE: www.gabrielletalksmoney.com/resources Disclaimer: Note this video is not financial nor accounting/tax advice and should be used for entertainment purposes only. Consult with your own financial advisor, accountant and/or tax advisor for advic...
ACCOUNTANT EXPLAINS Small Business Tax Filings | Everything You Need to Know to Avoid CRA Penalties
Переглядів 3,2 тис.6 місяців тому
Are you a Content Creator, Consultant or Coach in Canada looking for a Tax Accountant? Contact us here to see how we can help you and your business: www.balanceandwealth.com/contact-us Start a Sole Proprietor or Corporation in Canada with Ownr. Save on lawyer fees & get 15% off partners.ownr.co/022nlsdh7t5m Organize your finances, automate tasks to save time, and send invoices that get you paid...
7 Purchases that Improved my Financial Life | How I Spend My Money to be Happy
Переглядів 15 тис.6 місяців тому
We all know we need to save money to improve our financial lives for a better future. But if I tell you that in order to improve my financial life and to be happy, I spend money on specific purchases that give me a positive ROI or return on investment. I like to be intentional with how I spend my money. It would usually fall into the following 4 buckets of reason: wealth, health, relationships,...
ACCOUNTANT EXPLAINS: How to Pay Yourself from a Corporation in Canada | Salary vs Dividends
Переглядів 12 тис.9 місяців тому
Start a Sole Proprietor or Corporation in Canada with Ownr. Save on lawyer fees & get 15% off partners.ownr.co/022nlsdh7t5m Organize your finances, automate tasks to save time, and send invoices that get you paid fast. Get 80% off for 6 months with Quickbooks quickbooks.partnerlinks.io/pf8su71toknm As a business owner in Canada, you may be wondering whether to pay yourself a salary or dividend ...
ACCOUNTANT EXPLAINS: Avoid These Top 3 Money Mistakes Business Owners Make
Переглядів 4,4 тис.9 місяців тому
Are you a 6 Figure Consultant, Coach or Content Creator in Canada needing to take action TODAY to save taxes, increase profits, and build wealth? We are finally accepting new clients - contact us at: www.balanceandwealth.com/contact-us Discover financial success on your terms with Path2Profits, your personalized journey to mastering business finance. 🚀 Explore topics like Incorporation, Stress-...
ACCOUNTANT EXPLAINS How to Retire in 5 Easy Steps | Why Doing Nothing Will Make You Rich
Переглядів 10 тис.10 місяців тому
In today’s video, I will show you the math behind how you can retire with over $1M, starting with just $50K, in 5 easy steps! Alternatively, I also show you how you can retire starting with $0 and how much you need to starting putting aside for a comfortable retirement. 00:00 Intro 00:15 Step 1: Plan for Retirement Today 01:11 Step 1 Example - Scenario 1 ($50K saved) vs. Scenario 2 ($0 saved) 0...
ACCOUNTANT EXPLAINS: How to Build TAX FREE WEALTH in your BUSINESS (Only the 1% Know This)
Переглядів 8 тис.10 місяців тому
ACCOUNTANT EXPLAINS: How to Build TAX FREE WEALTH in your BUSINESS (Only the 1% Know This)
ACCOUNTANT EXPLAINS: The #1 Money Skill NOT Taught in School but All Business Owners SHOULD KNOW
Переглядів 13 тис.11 місяців тому
ACCOUNTANT EXPLAINS: The #1 Money Skill NOT Taught in School but All Business Owners SHOULD KNOW
8 Tips to Start a SUCCESSFUL Small Business in 2023 | What I Learned & Mistakes to Avoid
Переглядів 3,2 тис.11 місяців тому
8 Tips to Start a SUCCESSFUL Small Business in 2023 | What I Learned & Mistakes to Avoid
7 Things I Stopped Buying to Make More Money
Переглядів 20 тис.Рік тому
7 Things I Stopped Buying to Make More Money
7 Steps to Finding a Career That is Right For You
Переглядів 39 тис.Рік тому
7 Steps to Finding a Career That is Right For You
ACCOUNTANT EXPLAINS How to Pay Less Tax
Переглядів 26 тис.Рік тому
ACCOUNTANT EXPLAINS How to Pay Less Tax
ACCOUNTANT EXPLAINS Should you Rent or Buy Your Home
Переглядів 273 тис.Рік тому
ACCOUNTANT EXPLAINS Should you Rent or Buy Your Home
ACCOUNTANT EXPLAINS New First Home Savings Account FHSA (starting April 1, 2023)
Переглядів 36 тис.Рік тому
ACCOUNTANT EXPLAINS New First Home Savings Account FHSA (starting April 1, 2023)
ACCOUNTANT EXPLAINS Should You Buy, Finance or Lease a New Car
Переглядів 2,3 млнРік тому
ACCOUNTANT EXPLAINS Should You Buy, Finance or Lease a New Car
6 realities of a Digital Nomad + tips to working online and traveling the world
Переглядів 12 тис.Рік тому
6 realities of a Digital Nomad tips to working online and traveling the world
Important TAX CHANGES in CANADA for 2023 | TFSA, RRSP, FHSA, CPP
Переглядів 263 тис.Рік тому
Important TAX CHANGES in CANADA for 2023 | TFSA, RRSP, FHSA, CPP
How I Will Retire by 35
Переглядів 25 тис.Рік тому
How I Will Retire by 35
TAX EXPERT EXPLAINS Top 6 Tax Write-Offs for Youtubers and Content Creators
Переглядів 3,6 тис.Рік тому
TAX EXPERT EXPLAINS Top 6 Tax Write-Offs for UA-camrs and Content Creators
Economic Update and Recession Risks 2023 | MUST KNOW Benefits released by Government of Canada
Переглядів 5 тис.Рік тому
Economic Update and Recession Risks 2023 | MUST KNOW Benefits released by Government of Canada
Bookkeeping Basics for Small Business Owners in 2023
Переглядів 7 тис.Рік тому
Bookkeeping Basics for Small Business Owners in 2023

КОМЕНТАРІ

  • @matthewsokalski1969
    @matthewsokalski1969 2 години тому

    This will absolutely crush multigenerational family farms. The existing inheritance tax is already overwhelmingly punitive to the largely unprofitable industry.

  • @kimchan7189
    @kimchan7189 23 години тому

    Get rid of Trudeau. The problem solved.

  • @davidrockefeller2007
    @davidrockefeller2007 День тому

    What if you denounce Canadian citizenship, would you need to pay capitol gains? One couple on UA-cam dropped Canadian and picked up Mexican because the capitol gains is only 10%.

  • @breannajones2161
    @breannajones2161 День тому

    Why: Peace of a mind +freedom + investing

  • @vex123
    @vex123 День тому

    how did you get $4,500?

    • @GabrielleTalksMoney
      @GabrielleTalksMoney День тому

      It's under the assumption there is no other income other than $70K capital gains, and used a simple tax calculator here www.wealthsimple.com/en-ca/tool/tax-calculator/ontario

  • @tomkoolman
    @tomkoolman День тому

    ripping the Canadian is the priority of the government agenda.

  • @aaronpereira8021
    @aaronpereira8021 День тому

    Great!! now there wil be a searious hike in houseing price, no liquidation!

  • @LocalMultiplex
    @LocalMultiplex День тому

    thankfully none of this affects me

    • @brian-wood
      @brian-wood День тому

      I wish it affected me 😅

    • @matthewsokalski1969
      @matthewsokalski1969 2 години тому

      Never ever? You'll never own any property or make any investments (outside of your principal residence) that appreciates in fiat value, or even depreciates in value slower than the dollar does?

  • @oliverf.rupert5408
    @oliverf.rupert5408 День тому

    One things for sure, more work for accountants. Good woman. 😘

  • @Car_Fanatic
    @Car_Fanatic День тому

    Tysm❤ keep up the awesome content

  • @GabrielleTalksMoney
    @GabrielleTalksMoney День тому

    Get your FREE Budgeting Template here www.gabrielletalksmoney.com/resources

  • @bayskismith3720
    @bayskismith3720 День тому

    It's a vicious cycle 😢 debt free is the answer.

  • @MrZakka1985
    @MrZakka1985 2 дні тому

    So to simply conclude, is it correct/safe to say? A. If drive least to preserve resale value or keep for long over 5yrs to cover the depreciation, and can’t/no need to make/invest money for higher interest return => then Buying B. If know well DIY on car to min cost, finance for higher interest return and max tax deductible on depreciation/costs => better Finance C. If drive a lot, don’t have to worries about high depreciation (more on luxury cars), hassle of maintenance cost/paperwork (rego, insurance, repair, buy-sell process), or when high interest rate due to inflation, and have/change new model after few years => should Leasing

  • @qamarcpa
    @qamarcpa 2 дні тому

    So day trading is a crypto business, right and I can offset trading loss against my employment income.

  • @jessicarosario496
    @jessicarosario496 2 дні тому

    This was a great video. Thank you

  • @CandycaneBeyond
    @CandycaneBeyond 2 дні тому

    Would love to see an additional factor plugged in. If you are considering leasing, what would it cost to use pubic transit? The lease has low mileage attached to it and if someone is not driving that much I'm curious what the cost difference would be.

  • @QueenRo
    @QueenRo 2 дні тому

    I wanna feel some freedom and not this lingering feeling of owing money.

  • @TheJuneYaj
    @TheJuneYaj 2 дні тому

    Thank you for your advice.

  • @Love-Is-Kind
    @Love-Is-Kind 3 дні тому

    Thank you for sharing this information and the resources to help others gain control of their finances. Stay healthy and take care.

  • @DubC702
    @DubC702 3 дні тому

    You lost me at kilometers

  • @valerysanchez
    @valerysanchez 4 дні тому

    i am looking for a a clear conscience

  • @MARLONMATTHEWS
    @MARLONMATTHEWS 4 дні тому

    great video, do you thinks its important to have an LLC as a business owner?

  • @TamieVlogs
    @TamieVlogs 4 дні тому

    I want a house 😅

  • @Phil-kh1tq
    @Phil-kh1tq 5 днів тому

    Tec.tse

  • @janaemerson3344
    @janaemerson3344 6 днів тому

    Never heard of an opportunity cost. No one’s ever mentioned that before. I do not understand what that is and why should someone be penalized for paying outright for it

  • @racheludehjackson
    @racheludehjackson 6 днів тому

    I can totally identify with cutting down the lifestyle to tackle debt. I had to stop buying designer bags and eat at home instead of ordering out every week with friends. Then I took that money saved and made a payment arrangement to tackle my closed credit card to be paid off in just 12 months. Then I use “bonus money” that I accumulate through reasonably getting rid of my wants (and funding my needs) and put it in a high yield savings on auto pay. 👍🏾

  • @samoanirwin
    @samoanirwin 7 днів тому

    Check your microphone settings as your recording volume is really low when listening... Thanks for the great info...

  • @mecathompson9195
    @mecathompson9195 7 днів тому

    Hi! This has been so helpful. Love how you explained everything. I've listened to W Buffet explain this numerous times but this was better. Thanks so much! Will check out your other videos!!

  • @cramsa
    @cramsa 8 днів тому

    Don’t cheat yourself thinking the mortgage principal is “savings.” It’s possible to get LESS than what you put in due to market.

  • @ZakiyaAbdullahi
    @ZakiyaAbdullahi 8 днів тому

    Appreciate this upload Gabrielle.

  • @yapmouxun7487
    @yapmouxun7487 8 днів тому

    good content, but the low sound quality is very distracting.

  • @gr8502
    @gr8502 9 днів тому

    Only tax expert who is at least sexy

  • @oreoluwasimire
    @oreoluwasimire 9 днів тому

    I'm fascinated by these videos because where i am from, we barely use credit.

  • @indiakxoxo
    @indiakxoxo 10 днів тому

    I want to bc I’m starting a dental hygiene program soon and I won’t be working as much because of that. S d to improve my score. Peace of mind as well

  • @laurarobertson1107
    @laurarobertson1107 10 днів тому

    Gabrielle love this video.... I have a question though. I have a home and have homeowners insurance as well as property tax... what is the best way for me to save throughout the year for this. Should I put aside an amount each month and include this in my budget... maybe put the money I'm saving into a separate bank account? Thank you for the budgeting template I'm going to get it printed off :) Oh yes, I love your name ;)

  • @VexylObby
    @VexylObby 10 днів тому

    Is it just me, or is 90% of people in debt? How can interest rates that keep people like that be legal?

    • @daniellepomerleau5245
      @daniellepomerleau5245 4 дні тому

      Yes, unfortunately debt is something we are socially taught is the way of life. 1

  • @NaomiMacPherson-dv4lq
    @NaomiMacPherson-dv4lq 11 днів тому

    Have you done a video on Mortgage compared to HELOC Home Equity Line Of Credit?

  • @jacobbenivamondez4460
    @jacobbenivamondez4460 13 днів тому

    I want to be debt free for my children

  • @dataArtists
    @dataArtists 13 днів тому

    Great video! You could turn into a Udemy course. Have you done a video on business insurance?

  • @vickiemcintyre7902
    @vickiemcintyre7902 13 днів тому

    What is notice of adverse action?

  • @lulabloom4636
    @lulabloom4636 13 днів тому

    Thank you! Great video, detailed and very encouraging!!

  • @oliverf.rupert5408
    @oliverf.rupert5408 14 днів тому

    Thanks for the insight Gabrielle. Stay safe.

    • @oliverf.rupert5408
      @oliverf.rupert5408 13 днів тому

      Funny tho If I had any money I could really was an accountant. Thanks❤

  • @saishore
    @saishore 14 днів тому

    Great video Gabrielle. Toronto born, trying to improve myself and get some side hustles while keeping my full time job. Will make a plan off your points. (amd possibly reach out :D )

  • @UNgineering
    @UNgineering 14 днів тому

    0:33 I have one minor issue with the text "Coffee + Necessities" - that's tautology. :D

  • @GabrielleTalksMoney
    @GabrielleTalksMoney 14 днів тому

    Check out free resources like a Bookkeeping Template and a Tax Write Offs Guide for small businesses www.gabrielletalksmoney.com/resources

  • @johnwong9128
    @johnwong9128 14 днів тому

    Very good and informative video. The only thing that unless the rules changed relatively recently, i noticed is that you should clarify that with the FHSA, only a maximum of $8k from the previous year can be carried forward so if you open a FHSA in 2023 and don't contribute for 4 years and then in 2027 you can't contribute $50k, you can only contribute $16k (this is unlike the TFSA where you can carry forward the previous unused accumulated amount).

  • @SonjaJacobs-cf7mz
    @SonjaJacobs-cf7mz 15 днів тому

    Tell me how to pay off $20,000 worth of debt earning $20,000 a year Miss Accountant.

    • @jml9550
      @jml9550 14 днів тому

      Stop making $20k a year?

    • @ThePeachez71
      @ThePeachez71 2 дні тому

      Get a second job perhaps.

  • @USR8823
    @USR8823 15 днів тому

    After 3 years the person who leased walks away with nothing. The other two options, you have some monetary value left.

  • @dianesullivan5338
    @dianesullivan5338 15 днів тому

    I recently sold some of my NVDA stock to secure profits, but I'm retaining a portion for the long term. Nvidia's growth potential remains robust. I'm considering funding a new car, but I'm uncertain about managing risks in my next move.

    • @HildaBennet
      @HildaBennet 15 днів тому

      Everyone needs a Margin of Safety in their portfolios and just remember, It's time in the market versus timing the market.

    • @PennyBergeron-os4ch
      @PennyBergeron-os4ch 15 днів тому

      While keeping your portfolio allocations balanced, de-risk your investments, support your core holdings, and take some gains. Even managed portfolios don't always perform as well as I would advise, so it's essential to get the advice of a qualified fiduciary; my spouse and I find that this works for us. Net of dividends, we have had over 80% capital growth.

    • @JosephineKenney
      @JosephineKenney 15 днів тому

      I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

    • @PennyBergeron-os4ch
      @PennyBergeron-os4ch 15 днів тому

      She's “Sharon Lee Peoples” ''. I choose to delegate my excesses to her because of her expertise. I suggest you look her up.

    • @JosephineKenney
      @JosephineKenney 15 днів тому

      She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

  • @tonymoretti2347
    @tonymoretti2347 15 днів тому

    You have beautiful East Asian racial traits. Really pretty