Whether you’ve already done your taxes for the year or not, I wanted to dedicate this episode to the tax optimizations that you can do to save tax not only this year, but for future years as well.
At every stage in life, government finds a way to tax you, often in a complicated and convoluted way, which is why Canadians spend $7 billion each year just to file their personal income taxes. Accountant Neal Winokur wants to reform the tax system to such an extent that his job isn’t necessary. He joined True North’s Andrew Lawton to chat about his book The Grumpy Accountant, a playful and insightful read exposing the absurdities and contradictions of Canada’s tax system.
We interview Neal Winokur who wrote the book entitled The Grumpy Accountant – One Fed-Up Tax Pro’s Practical Plan to Fix Canada’s Senselessly Complicated Tax System. Yes, the book is packed with tax information, but it’s also uproariously funny.
Canada’s Senselessly Complicated Tax System & How to Fix It
Not many people have the passion for our tax system that Neal Winokur does. In fact, he has so much passion for what’s wrong with it and how to fix it that he wrote a whole book on it! He’s the author of, The Grumpy Accountant: One Fed-Up Tax Pro’s Practical Plan to Fix Canada’s Senselessly Complicated Tax System. Together with Jesse Berger, he joins us on The Your Life! Your Terms! Show to discuss what we can do to fix our old system. Who knew talking taxes would be so fun.
Neal begins by sharing just what it is about the tax code that bothers him so much, the changes he would like to see, and his thoughts regarding the implementation of a flat tax on spending. He also offers his ideas for simplifying tax returns for business owners, identifies the reasons why Canada has not moved to a GST or VAT approach along with his response to these reasons, and details a few of the many money saving ideas that can be found in his book. Neal also explains how he saves, invests, and protects his money, explores Richard’s perspective on these strategies with him, and relates the story of the low point in his career and how he climbed out of it. As the episode draws to a close, Neal offers advice for today’s accounting students, shares his ideal vision for himself in 5 years, and provides his thought provoking definition of financial independence.
Neal shares his radical vision for an easier income tax system and what it would look like for everyday Canadians. He and Doug Hoyes also discuss whether the government could consider other sources of revenue instead of income taxes and the impact on Canadian politics.
We interview Neal Winokur who wrote the book entitled The Grumpy Accountant – One Fed-Up Tax Pro’s Practical Plan to Fix Canada’s Senselessly Complicated Tax System.
Yes, the book is packed with tax information, but it’s also uproariously funny.