My name is Mark Goodfield. Welcome to The Blunt Bean Counter ™, a blog that shares my thoughts on income taxes, finance and the psychology of money. I am a Chartered Professional Accountant and a partner with a National Accounting Firm in Toronto. This blog is meant for everyone, but in particular for high net worth individuals and owners of private corporations. The views and opinions expressed in this blog are written solely in my personal capacity and cannot be attributed to the accounting firm with which I am affiliated. My posts are blunt, opinionated and even have a twist of humor/sarcasm. You've been warned.

Monday, August 29, 2011

The Dividend Gross-up and Tax Credit Mechanism

Most people are convinced they are reading a foreign language when they try to comprehend and understand the meaning of the taxable dividend and dividend tax credit terminology on their T5’s and T3's. Today, I try and make some sense of these terms in a guest blog “The Dividend Gross-up and Tax Credit Mechanism” for Boomer and Echo. Thanks to Boomer and Echo for publishing this blog.

Boomer and Echo, who started their blog only a month or so before mine have achieved rapid success and critical acceptance in one short year. I guess two bloggers are better than one :).

I have not had the pleasure of talking or corresponding with Boomer, but I have had several email exchanges with Echo (Robb). As an accountant who has met hundreds of young entrepreneurs, I have developed a sixth sense as to which ones will probably be successful and based on Robb’s thought process and comments, I can see why Boomer and Echo has become successfull so quickly. Please check out my guest blog and Boomer and Echo’s blog if you have not already done so.

The blogs posted on The Blunt Bean Counter provide information of a general nature. These posts should not be considered specific advice; as each reader's personal financial situation is unique and fact specific. Please contact a professional advisor prior to implementing or acting upon any of the information contained in one of the blogs.

4 comments:

  1. Thanks for the kind words, Mark. I really appreciate you taking the time to write and share your expertise on the subject. It will be a valuable resource for our readers.

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  2. My god, I finally understand what's behind all this gross up and credit scheme!
    Great post.

    "As an accountant who has met hundreds of young entrepreneurs, I have developed a sixth sense as to which ones will probably be successful"

    Suggestion for a future blog post (or series of posts?): distilled advice to young entrepreneurs.

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  3. Hey Anon

    Glad I could help in deciphering the DTC. Great idea, I have noted it down in my to be developed blog list.

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