From the Source with Frankie and Sarah

Frankie Loreto, Sarah Netley
  • 5.0 (1)
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Welcome to From the Source with Frankie and Sarah from Baker Tilly KDN. In this podcast, we provide a place for business owners and entrepreneurs to get the facts they need to understand and overcome their tax planning challenges. Join us for this journey as Frankie Loreto and Sarah Netley draw from years of expertise and guest experts to help make complex tax planning concepts make sense. Baker Tilly KDN is a full-service accounting firm providing assurance, tax and related business advisory services to a broad range of clientele from our offices in the Kawartha, Durham and Northumberland regions of Ontario. Baker Tilly KDN LLP is a member of Baker Tilly Canada Cooperative, which is a member of the global network of Baker Tilly International Ltd.

  1. Sep 28

    How Life Insurance Fits Into Tax and Estate Planning for Business Owners (Ep. 41)

    For business owners, life insurance can become much more than income protection. As your business and wealth grow, questions around future tax liabilities, estate equalization, business obligations, and transferring wealth can make the right insurance structure increasingly important. In this episode, Frankie and Sarah welcome Hemal Balsara, Head of Tax, Retirement and Estate Planning at Manulife, to explore how life insurance can support different planning needs. They look at term and permanent insurance, health and financial underwriting, conversion features, and how permanent policies may fit into tax and estate planning. They also explore corporate-owned life insurance, the capital dividend account, and why policy ownership and beneficiary designations require careful consideration. For business owners, choosing a life insurance policy isn’t only about how much coverage to buy. The type of policy, underwriting requirements, conversion options, ownership structure, and beneficiary designation can all affect how that coverage fits into a broader tax and estate plan. Listen to the full episode to hear what Frankie, Sarah, and Hemal say business owners should understand as they evaluate those decisions. Frankie, Sarah, and Hemal discuss: What business and estate planning needs can life insurance help address? How can term and permanent life insurance serve different planning needs over time? Why do health, financial underwriting, and conversion features matter when choosing coverage? How can corporate-owned life insurance and beneficiary designations affect tax and estate planning? Connect with Frankie Loreto and Sarah Netley:  Courtice.BakerTilly.ca LinkedIn: Baker Tilly Canada LinkedIn: Frankie Loreto LinkedIn: Sarah Netley Call: (905) 579-5659 Connect with Hemal Balsara: Manulife LinkedIn: Hemal Balsara About our Guest:  Hemal Balsara is Head of Tax, Retirement and Estate Planning at Manulife, where his work focuses on providing tax, retirement, estate, and insurance planning support to advisors navigating complex planning situations. His areas of focus include life insurance, retirement and estate planning, corporate planning, wealth transfer, and the tax implications associated with different insurance structures. In this episode, Hemal shares his perspective on how life insurance can address both temporary and permanent needs, while explaining considerations around underwriting, policy ownership, beneficiary designations, and corporate-owned insurance.

  2. Aug 24

    What Canada’s 2026 Draft Tax Changes Could Mean for Your Business with Rebecca Adrian (Ep. 40)

    Canada’s July 2026 draft tax legislation includes several proposed changes that could affect businesses and individual taxpayers. From Disability Tax Credit applications and transfer pricing paperwork to the new $5,000 Red Seal Completion Bonus, understanding what’s being proposed can help you identify which changes may be worth discussing with your tax advisor. In this episode, Frankie and Sarah welcome Rebecca Adrian, CPA, CFP, Senior Manager with Baker Tilly’s National Tax group, to explain several proposals included in the summer 2026 draft tax legislation. They look at who may be affected, when the proposed rules could offer relief, and why businesses shouldn’t assume that a single exemption eliminates all tax concerns. They also explore proposed changes to automobile benefits for partners and shareholder loans involving certain foreign affiliates. These measures remain in draft form and may change before becoming law. Listen to the full episode for a practical overview of which proposed tax changes you or your business may want to review with a tax advisor. Frankie, Sarah and Rebecca discuss: Who may be able to certify a Disability Tax Credit application under the proposed expanded rules? When could Canadian businesses with smaller cross-border transactions qualify for simplified transfer pricing documentation? Is the proposed $5,000 Red Seal Completion Bonus taxable, and how could it affect childcare expense and skilled trades deductions? How could the proposed rules for automobile benefits for partners and foreign affiliate shareholder loans affect certain businesses and taxpayers? Resources: Summer 2026 Draft Tax Legislation: What You Should Know Baker Tilly Canada Tax Services Connect with Frankie Loreto and Sarah Netley:  Courtice.BakerTilly.ca LinkedIn: Baker Tilly Canada LinkedIn: Frankie Loreto LinkedIn: Sarah Netley Call: (905) 579-5659 Connect with Rebecca Adrian: Baker Tilly Canada: Rebecca Adrian LinkedIn: Rebecca Adrian About our Guest:  Rebecca Adrian is a Senior Manager with Baker Tilly’s National Tax group. She monitors new and proposed Canadian tax legislation and helps businesses and taxpayers understand how legislative developments may affect their tax planning, reporting, and compliance obligations. Rebecca also contributes to Baker Tilly Canada’s tax alerts and regularly joins From The Source to discuss federal budgets, economic updates, and draft tax legislation.

  3. Jul 9

    Immediate Expensing and Tax Changes for Manufacturers with Rebecca Adrian (Ep. 39)

    Planning to build, purchase, or expand a manufacturing facility? Proposed Canadian tax changes could create a meaningful opportunity for eligible businesses, but understanding the rules before making a major investment is essential. In this episode, Frankie and Sarah are joined by Rebecca Adrian, CPA, CFP, a member of Baker Tilly’s National Tax team, to unpack proposed legislation in Bill C-31 and what it could mean for Canadian manufacturers. Together, they discuss immediate expensing for qualifying manufacturing and processing buildings, the conditions businesses must meet to remain eligible, proposed rules for suspending dividend refunds, and why proactive tax planning and audit readiness are more important than ever. Frankie, Sarah, and Rebecca discuss:  How immediate expensing could help eligible Canadian manufacturers build, purchase, or expand qualifying manufacturing and processing facilities. What businesses need to know about eligibility requirements, including qualifying use, timing, prior deductions, and the 10-year compliance period. Why replacement property rules, mixed-use buildings, and recapture provisions make proactive tax planning essential before claiming the incentive. How proposed dividend refund suspension rules could affect corporations with passive income, tiered corporate structures, trusts, or mismatched year-ends. Maintaining documentation and staying audit-ready is increasingly important as CRA compliance activity continues to grow. Connect with Frankie Loreto and Sarah Netley:  Courtice.BakerTilly.ca LinkedIn: Baker Tilly Canada LinkedIn: Frankie Loreto LinkedIn: Sarah Netley Call: (905) 579-5659 Connect with Rebecca Adrian: LinkedIn: Rebecca Adrian LinkedIn: Baker Tilly Canada About our Guest:  Rebecca Adrian is a member of Baker Tilly Canada’s National Tax team, where she specializes in interpreting complex tax legislation and helping advisors and clients navigate evolving tax rules. In this episode, Rebecca shares practical insights on Bill C-31, immediate expensing for manufacturing and processing buildings, proposed dividend refund suspension rules, and the importance of proactive tax planning and CRA audit readiness for Canadian businesses.

  4. May 7

    Spring Economic Update 2026 (Ep. 38)

    What actually changed in the Spring Economic Update, and what just sounds important? This episode breaks down what matters, what doesn’t, and where business owners should actually be paying attention. In this episode, Frankie and Sarah are joined by Rebecca Adrian, CPA, CFP, National Tax Manager at Baker Tilly Canada, to discuss the latest Spring Economic Update and what it means from a practical tax and planning perspective. Together, they cut through the noise to highlight where there are real implications and where things are more about positioning than immediate action. Frankie, Sarah, and Rebecca discuss:  The overall tone of the Spring Economic Update and why it feels more like a positioning document than a traditional budget Key themes, including balancing long-term economic stability with short-term affordability measures What business owners and taxpayers should (and shouldn’t) be reacting to right now Updates to the Disability Tax Credit and why improved access matters in practice Expanded affordability measures, including changes tied to the GST credit The Labour Mobility Tax Credit and what it signals about broader economic priorities What’s missing around expected tax legislation and guidance Ongoing concerns with dividend suspension rules and the unintended administrative burden they may create Employee Ownership Trusts being made permanent, and what that could mean for succession planning Why this period may signal a return to more stability and better opportunities for proactive planning Resources: Spring Economic Update (Government of Canada) Connect with Frankie Loreto and Sarah Netley:  Courtice.BakerTilly.ca LinkedIn: Baker Tilly Canada LinkedIn: Frankie Loreto LinkedIn: Sarah Netley Call: (905) 579-5659 Connect with Rebecca Adrian: LinkedIn: Rebecca Adrian LinkedIn: Baker Tilly Canada About our Guest:  Rebecca Adrian is a CPA and CFP and serves as National Tax Manager at Baker Tilly Canada. She specializes in tax planning and policy analysis, with a focus on translating complex legislation into practical insights for advisors and business owners. Rebecca works closely with teams across the country to interpret federal tax developments and guide strategic planning decisions.

  5. Apr 9

    What Qualifies as a Farm for Tax Purposes? With Bud Arnold (Ep. 37)

    What actually qualifies as a “farm” for tax purposes, and why does it matter more than most people think? In this episode, Frankie and Sarah are joined by Bud Arnold, Tax Partner at Baker Tilly, to continue their conversation on Canadian farming tax rules, this time focusing on planning opportunities and how to access preferential tax treatments. This episode highlights how small structural and operational decisions can significantly impact long-term tax outcomes for farm owners and their families. Frankie and Sarah discuss: What the CRA considers a “farm” for income tax purposes, and how it differs from property tax or land transfer definitions Why eligibility depends on who is using the land and how it’s being used How corporations and partnerships can play a role in qualifying for tax advantages Common mistakes that can disqualify farmland from the lifetime capital gains exemption Planning strategies to convert passive rental income into active farming income Challenges with mixed-use properties, including principal residence vs. farmland allocation How non-farming assets inside a farm corporation can create issues Additional considerations, like HST and land transfer tax, when selling or transferring farmland Resources: Farm Transfers Under the Income Tax Act: Planning for the Next Generation (Ep. 36) Connect with Frankie Loreto and Sarah Netley:  Courtice.BakerTilly.ca LinkedIn: Baker Tilly Canada LinkedIn: Frankie Loreto LinkedIn: Sarah Netley Call: (905) 579-5659 Connect with Bud Arnold: LinkedIn: Bud Arnold LinkedIn: Baker Tilly Canada About our Guest:  Bud Arnold is a Tax Partner at Baker Tilly, Elora, with a specialty in agriculture and farming. He works closely with farm owners on tax planning and succession strategies, helping clients navigate complex rules and access available tax advantages within the farming sector.

  6. Mar 2

    Farm Transfers Under the Income Tax Act: Planning for the Next Generation (Ep. 36)

    Farm succession planning is not just about who gets the land; it is about how to transfer it without creating an unmanageable tax bill. This episode explains why farm property is treated differently under the Income Tax Act and how those differences can shape estate and succession decisions. In this episode, Frankie and Sarah are joined by Jamie Lee, Tax Manager at Baker Tilly Cadian, to walk through the unique tax rules that apply to qualifying farm property in Canada. From rollover provisions to the lifetime capital gains exemption, they break down what farm families need to understand before transferring property to the next generation. What to expect: Why farm property rollovers extend beyond spouses to children, grandchildren, and great-grandchildren How transferring property between cost and fair market value can create planning flexibility What the “principally used” test means and why 50 percent matters Key differences between pre 1987 and post 1987 capital gains exemption rules How the gross revenue test can complicate eligibility Why rising land values create liquidity concerns at death How promissory notes are often used in farm transfers The 36-month holding rule and why timing matters Additional considerations, including alternative minimum tax, OAS clawback, and potential HST implications And more! Connect with Frankie Loreto and Sarah Netley:  Courtice.BakerTilly.ca LinkedIn: Baker Tilly Canada LinkedIn: Frankie Loreto LinkedIn: Sarah Netley Call: (905) 579-5659 About our Guest:  Jamie Lee is a Tax Manager at Baker Tilly Cadian with a growing focus on farm taxation and succession planning. Coming from a farming background herself, she brings both personal understanding and professional expertise to her work with farm clients. Jamie Lee regularly advises on complex farm tax matters, including rollover provisions, capital gains exemption planning, and intergenerational transfers. She works closely with farm families to help them navigate evolving tax rules while supporting long term continuity and thoughtful succession strategies.

  7. Feb 12

    Beyond Trust: Protecting Your Business with a Shareholder Agreement (Ep. 35)

    Most business owners assume strong relationships are enough to hold a company together. This episode explains why that belief can create serious risk, and how the right agreements can prevent years of conflict. In this episode, Frankie and Sarah are joined by returning guest Denise Branton, Lawyer and Owner, Byron Street Legal, to break down why shareholder agreements matter more than most business owners realize, especially in family businesses and closely held companies. What to expect: Why “we trust each other” is not a substitute for clear legal planning Common misconceptions around shareholder agreements in family and friend-owned businesses How shareholder agreements help manage conflict, decision-making, and exits What happens when a shareholder dies, becomes disabled, or wants out Why template agreements and one-size-fits-all solutions often fall short The importance of valuation clarity, including when certified business valuations make sense How shareholder agreements intersect with estate planning, and why ignoring this link creates problems And more! Connect with Frankie Loreto and Sarah Netley:  Courtice.BakerTilly.ca LinkedIn: Baker Tilly Canada LinkedIn: Frankie Loreto LinkedIn: Sarah Netley Call: (905) 579-5659 Connect with Denise Branton: Byron Street Legal LinkedIn: Denise Branton About Our Guest: For over 20 years, Denise has been advising business owners, helping them navigate complex legal matters, providing strategic counsel, and mitigating risks to achieve their goals.  Denise earned her law degree from Toronto’s Osgoode Hall Law School in 2005 and was called to the Ontario bar in 2006. After practicing in Toronto for five years, she moved to Durham Region and eventually opened her own law practice. Denise’s practice has been focused on working with business owners, regularly advising them on corporate and commercial matters, including real estate, secured financing transactions, corporate reorganizations, buying and selling businesses and shareholders agreements.  With the intersection of business and wills & estates law, it was a natural progression for Denise to bring her expertise into the estate planning area.  Denise continues to develop her knowledge in estate planning, wills and trusts and is currently working towards her designation as a Trusts and Estates Practitioner (TEP) with STEP Canada.  Denise’s approach to client service is grounded and practical, with a strong commitment to open communication.  Denise is known for her ability to break down complex legal matters into simple terms.  To provide her clients with exceptional  legal service and advice, Denise collaborates with experts in various fields, including employment law, tax planning, and wealth transfer strategies.   When establishing her own practice, Denise chose to base it in her local community, reflecting her passion for Durham Region. She actively participates in and influences the growth of both personal and business communities, through her work with Rotary and various speaking engagements within the legal and business sectors. Outside of the office, Denise, along with her family, enjoys adventure travel that focuses on unique skiing and hiking opportunities, as well as attending her favorite music concerts.

  8. Jan 8

    How Physicians Can Build Wealth Through Smart Tax Structures with Deanna Cregg (Ep. 34)

    For physicians and medical professionals, the financial journey from residency to retirement can be as complex as any clinical case.  Frankie and Sarah welcome Deanna Cregg, Partner at Arcadian Group, to unpack the key tax and structuring decisions doctors face at each career stage. From the first days of self-employment to planning for retirement, Deanna explains when it makes sense to incorporate, how to structure share ownership for maximum flexibility, and why thinking ahead about investment income, spouse involvement, and ancillary services can save headaches and money down the road.  Whether you’re a new resident, an established practitioner, or an advisor working with medical professionals, this conversation offers clear, practical insight into a highly specialized area of tax planning. What to Expect: When physicians should consider incorporating their practice How medical professional corporations differ from other professional corps Income splitting and retirement planning benefits for spouses Common misconceptions about investment income, ancillary services, and corporate structures And more! Connect with Frankie Loreto and Sarah Netley:  Courtice.BakerTilly.ca LinkedIn: Baker Tilly Canada LinkedIn: Frankie Loreto LinkedIn: Sarah Netley Call: (905) 579-5659 Connect with Deanna Cregg: LinkedIn: Deanna Cregg, CPA, CA About Our Guest:  As a partner at Baker Tilly KDN (BT KDN), Deanna Cregg serves a variety of small to mid-size businesses. Specializing in assisting professionals – doctors, lawyers, dentists, and veterinarians- Deanna provides comprehensive accounting and tax advisory services tailored to the unique needs of owner-managed businesses to achieve the greatest tax efficiencies available. Deanna graduated from Brock University with a Bachelor of Accounting (Honours) in 2012 and obtained her Chartered Accountant designation in 2013. She joined the Baker Tilly Canada network in 2009 as a co-op student and was hired full-time in 2012. Deanna became a partner with BT KDN in 2024.

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About

Welcome to From the Source with Frankie and Sarah from Baker Tilly KDN. In this podcast, we provide a place for business owners and entrepreneurs to get the facts they need to understand and overcome their tax planning challenges. Join us for this journey as Frankie Loreto and Sarah Netley draw from years of expertise and guest experts to help make complex tax planning concepts make sense. Baker Tilly KDN is a full-service accounting firm providing assurance, tax and related business advisory services to a broad range of clientele from our offices in the Kawartha, Durham and Northumberland regions of Ontario. Baker Tilly KDN LLP is a member of Baker Tilly Canada Cooperative, which is a member of the global network of Baker Tilly International Ltd.

Information

  • Creator
    Frankie Loreto, Sarah Netley
  • Years Active
    2023 - 2026
  • Episodes
    41
  • Rating
    Clean
  • Copyright
    Copyright © From the Source with Frankie and Sarah
  • Show Website
    From the Source with Frankie and Sarah