Tag Archives: cra tax audit

Tackling and Surviving a CRA Tax Audit

The best thing to do when you receive a CRA Notice of Assessment is to stay calm and deal with it. You have to open all the brown envelopes that you get from the CRA. If you happen to receive calls from the CRA, you have to receive them without flinching or return them promptly if you have missed them. When you start ignoring tax problems, they do not go away. They come back strongly at you in the shape of a CRA tax audit.

CRA tax audit will generally be notified in a letter format. On some rare occasions, a telephone request would be made by the CRA. This letter will set out the details like the audit years or the auditor’s contact information. It would also include a list of papers that the CRA may wish to inspect and this could include your financial statements, copies of tax returns, schedules of depreciation or payroll records.

When you are going to be reviewed with a CRA tax audit, you have to respond calmly and submit all the information that is being requested. To be specific, if the CRA wants to review your travel expenses, they will set out a date for you to provide the necessary documentation to support what you have reported in your tax return. You have to make sure that you are able to meet the deadlines that have been set by the CRA tax audit. When you have all the necessary paperwork to support your case but you are tardy and late in sending the information, you will get your tax return reassessed without giving you the credit. You will have to go through filing an adjustment to make the claim once more.

As a taxpayer, it is not possible that you will be able to stay organized every time. Sometimes, you will not be able to find all your tax related documents at one place. But the fact remains that you have to submit all the documents that are required in a CRA tax audit. Your tax consultants or the CRA are not going to come around and help you in finding the documents. Any excuse about not being able to locate the required documents will not be accepted by the CRA.

One of the rules of the CRA tax audit is that if the review ends in a reassessment, it is wiser to pay the tax balances promptly so that you avoid interest charges subsequently. Any disagreement you have can be taken care after the payment through a Notice of Objection. Should the CRA reverse its decision your reassessment, you will get your money back.

It is better to take the help of the tax accountants to help you in these tax battles. If you feel that you are receiving unfair treatment from the CRA, you can lodge a complaint with the Taxpayers’ Ombudsman Office. This office will review all complaints related with service and make sure that the Taxpayers’ Bill of Rights is adhered to, even if it cannot change all the tax laws in your favor.

Why is it important to get professional Canadian Tax Audit Help?

When you get a letter in your mail from CRA, it is time to get yourself Canadian tax audit help. If you want to handle tax filing and face a tax audit yourself, then it could develop into a nerve racking experience for you. Income tax audits are slowly but surely becoming a certainty just like life and death in Canada, . A tax audit could be frightening but it may not become inscrutable. Success can be achieved in this madness through the right kind of advice from tax audit experts.

A tax audit could be described as a scrutiny of your tax returns. During the process of an audit, a CRA examiner will make an assessment of your tax return, line by line. If something is not found to add properly or if the return includes something which is unusual, the examiner will highlight the errors or discrepancies and will ask you to explain or justify your entries. This is why you need Canadian tax audit help.

When you seek tax audit help in Canada, you will find out that there are different kinds of tax audits. They could be office, correspondence or field audits. Canadian tax audit help will prepare you in how you can avoid such investigations. Through correspondence audit, CRA will examine and correspond through mail. This is usually for the common tax return issues like missing schedules or forms or illegible entries and calculation errors.

In a field audit, you will require tax audit help because the CRA examiner will visit your house in order to verify the information that you have submitted on your tax return for that financial period.

You will require Canadian tax audit help even during an office audit where you have to go to the office of a CRA examiner. The examiner will mostly require your tax accountant or representative to prepare and bring all the documentation such as receipts, pay stubs or account statements.

Once you receive information about a tax audit, you have a month to respond and get adequate Canadian tax audit help. If you do not agree with the points laid out by the CRA concerning your tax returns, you may appeal their findings. This appeal will be handled by a CRA Appeals Officer and the proceedings may go on for a year or even longer.

If you have taken a client on business entertainment to a restaurant, it could become a business expense that could be justified. When you get Canadian tax audit help, you will be shown how you can maintain the relevant receipts and give out proper explanations for all audit queries.

A period of three years is set aside as a limitations’ statute on the audit of tax returns that were filed within the time limit. If you keep records properly and get professional Canadian tax audit help, you could handle whatever audit inquiries the CRA may have.

CRA Tax Audit Problem

There is nothing more unsettling and unpleasant than CRA tax audit problems that can engage a myriad of consequences. For example, you have just received a notice that Canada Revenue Agency (CRA) Auditor is going to audit your tax return.

CRA tax audit problem and consequences

When you face CRA tax audit problems, this is when you either decide that you do have a clear trail and the audit actually will vindicate your tax return, or you realize there is trouble ahead because your tax records are either skimpy or questionably supportive. The latter, of course, could result in subsequently receiving a Proposal Letter from CRA auditor with its findings for reassessment and taxes due.

During CRA tax audit, the auditor allows you to respond to a Proposal Letter with documentation further supporting the initial tax return within 30 days. Will you be able to provide that further documentation? Your CRA tax audit problem will be compounded if you decide, nevertheless, to defend the integrity of your initial return. You will be faced with filing systematic disputes and appeals each with varying rules, guidelines and responsive deadlines.

The potential costs of a CRA tax audit problem

Your CRA tax audit problems might drag on for months or longer. The end result could be a losing battle with additional taxes owing. It could also waste your valuable time. Now you will be responsible for a reassessed tax with possible penalties and compounded interest snowballed daily. This unexpected turn of events also might burden you with the stress of a lump sum tax payment for which you have to negotiate installment payments. Perhaps, the whole matter will no longer be viewed as unsettling and unpleasant but absolutely nightmarish.

Professional help on your CRA tax audit problem

Do not waste time worrying about an audit notice after the filing of your tax return. Seek professional help to save your time, cut the stress and the tax bill. At Tax 911Now, we have the knowledge and expertise to review your tax returns, identify the rationale for a CRA audit and devise the most effective method of handling your CRA tax audits. In any event, proven experience overshadows the false confidence of self help books and DIY (do it yourself) method trying to figure out things on the internet. Our team at Tax 911 Now will be able to guide you through all issues with their knowledge, experience and professionalism in handling CRA audits and resulting disputes and appeals.

Contact Tax 911 Now for your CRA tax audit problem!

You can contact Tax 911 Now to schedule a free consultation. Our tax consultant will give you a free Tax Analysis. Tax 911 Now is located at 129 Telson Road, Suite #100, Markham, Ontario, L3R 1E4. If you prefer, simply call 1-877-918-2991 to talk with a tax consultant to help you begin clearing up your tax problems quickly, completely and affordably. Tax 911 Now services Toronto, York Region, Durham and more regions across Canada. Also visit the Tax 911 Now website at https://www.tax911now.ca.

CRA Tax Audit Proof Financial Reporting in Canada

The Canada Revenue Agency requires that all businesses retain at least six years of financial reporting by law. Companies seeking CRA tax audit solutions should look for tools for leaving the best audit trail so that accounting is transparent.

By documenting the sequence of events behind every business transaction, a company will be in compliance rules to audit reporting. The CRA requires that businesses leave an audit trail. CRA tax audit solutions include record of receipts and inventory as evidence of expenditures.

E-commerce has added new CRA tax audit solutions to reporting. Electronic email and web log records confirm transactions. Audio recordings of phone-based transaction are valid CRA tax audit solutions used for audit record. The CRA requires e-commerce businesses to retain information about all transactions conducted via internet or telephone. Electronic record is a CRA tax audit solutions to supply details about sales transactions.

Formal records management CRA tax audit solutions such as electronic storage provide record of financial transaction. Paper records generated in digital format are also CRA tax audit solutions. The CRA allows for scanning of receipts and bill of sale in for official review. Records originally provided in electronic format must be retained in this mode, and may be supplemented by print out.

Companies subscribing to third party merchant services payment gateways may obtain data on e-commerce transactions from their provider. Some companies offer separate online billing software applications and record. Accuracy of record is part of the obligation of firms, and should be subject to review by an accountant or financial controller in the interest of the taxpayer.

Follow the rules for CRA reporting

Canadian companies using storage of financial records in a data storage location external to Canada or Canadian registration are responsible for compliance of information to CRA rules. Computer or servers outside of Canada are generally not in compliance with CRA requirements. Registration of file storage should be reviewed prior to reporting of financials. Companies may seek permission to house financial records outside of Canada from the CRA with request for feedback about the rules and regulations guiding this relationship.

Internal record of taxpayer contributions to the Canada Pension Plan, employment Insurance, and related income tax payments should retain record about worker performance and compensation. This includes any financial record in support of payment obligation abided by the taxpayer.

Companies using an outside source of tax solution for audit accounting should pay special attention to the management of payroll tasks. Employers are legally responsible for ensuring accuracy of this record in respect to employee taxpayer record. The CRA requires six years retention of those records. Quebec businesses must retain additional information in the interest of employer and employee obligation to tax.

Taxpayer control of data by way of third party merchant services provision often includes the latest software application as system tax solutions. Databases used for financial control of operations accounting in Canadian businesses should be reviewed in correspondence with CRA’s requirement to audit proof reporting. For more information about CRA accepted tax solutions, contact Tax 911 Now at 1-877-918-2991.

Facing CRA Tax Problems?

Facing tax problem put a great deal of stress on an individual. One of the biggest mistakes that people make is trying to undergo a CRA tax problem alone. This can prove to be detrimental to one’s financial and emotional well being. Therefore, anyone who is about to experience a CRA tax problem in Toronto and other regions should seek out the necessary help from qualified individuals in order to better understand their tax problems and the options that they have available to them. Having tax problems and dealing with the tax agency can be a scary experience for many individuals. Having the assistance that is provided from Tax 911 Now is invaluable for anyone who is about to experience a CRA’s challenge in Toronto and surrounding areas.

Having Tax Problems?

Virtually everyone has tax problems at one time or another. The problems may be through no real fault of the individual in question or they may be because the individual did not take the time to fully understand what their duties and obligations were concerning their taxes. Working with a tax consultant based in Toronto can help them to better understand what their duties and obligations are. Tax consultant also helps people to better understand what their options are if they are facing a CRA tax problem in Toronto. Getting help from a qualified representative at Tax 911 Now helps people to better understand what they are truly facing and how they can work through it successfully. Services are provided in Toronto, York and Durham Regions plus surrounding areas.

Need Tax Relief for Large Tax Debts Owing?

Tax relief is essential for any individual with large tax debts to protect their financial health. More importantly, taxpayer relief Toronto is something that can be provided by qualified individuals who understand the tax laws and how they apply to each individual’s circumstances. Many people choose to speak with a tax consultant Toronto because they are unsure of how to proceed with their taxes given their circumstances or they are looking for some type of tax relief because they are unable to pay at the current rate.

Revenue Canada Tax Audits

The main thing that you you should know about a CRA audit is that it does not have to be a frightening experience as long as you work closely with qualified tax consultants to help you better understand your situation. It is important that you contact a representative from Tax 911 Now as quickly as possible in order to ensure that you have the greatest amount of time to fully understand your tax situation and possible outcomes. To find out more information you can call 1-877-918-2991. For a more personal meeting you can come for a visit. The office is located at 129 Telson Road, Suite #100, Markham, Ontario, L3R 1E4.

Revenue Canada Auditing Your Taxes?

So, you’ve done your best this year to keep track of all your income, expenses, and receipts. You filed your taxes by the deadline, or even earlier, and you’ve already received your tax refund and gone out and bought that brand new automobile you’ve been wanting. You’re feeling pretty good about yourself, when all of a sudden, you’re informed that you’re being audited by the Canada Revenue Agency. Before you stop opening your mail or answering the phone, go into hiding, lose sleep, or even your head, here is some information on how The Canada Revenue Agency conducts its audits and information on how tax professionals can help you with your Toronto CRA tax audit solutions.

How The CRA Selects Its Audits

Computer generated lists are the most common way the CRA selects its audits. All returns are stored electronically in computer systems, which allows the CRA to sort returns according to various groups. The CRA compares selected financial information from the current year and various years of tax payers engaging in similar business or occupations. A computer generated list is compiled, and the CRA selects from the list, who will be audited. But, the CRA can also conduct its audits based on audit projects, leads, and secondary files.

Audit Projects – The CRA tests the compliance of a particular group. If the group tests indicate non compliance among the group, this can trigger an audit.
Leads – Other audits, investigations, and outside sources can trigger an audit.
Secondary Files – Sometimes audits are conducted based on a partnership or association with a previously audited person or business.

How CRA Conducts Its Audits

If your return is selected for an audit, the CRA will review your records either at their office or at your place of business. Records for audit include the information on file at the CRA office, selected returns, financial statements, previous audit reports, business ledgers, journals, bank accounts, sales invoices, purchase vouchers, and expense accounts. To avoid delays, the CRA recommends keeping well-kept records.

Toronto CRA Tax Audit Solutions

If you find that you are facing a tax audit and are looking for CRA tax audit solutions, let Tax 911 Now, a professional and dedicated team of tax professionals, help you. Tax 911 Now, serves the Toronto, York region, Durham region and more. Tax 911 Now has in depth knowledge and experience with CRA tax audit solutions. This team of tax professionals can help you with CRA tax audit solutions such as tax audits, unreported income, overdue tax arrears problems, Canadian tax relief, tax collection problems, wage garnishments, bank levy, GST/HST audits, PST audits, business expense disallowed, voluntary disclosure programs, tax amnesty or tax pardon, demand to file and more. Tax 911 Now is available to help with all your CRA tax audit solutions, so come in for a visit today.

Tax 911 Now is available to help customers in Toronto, Markham, Calgary, and Vancouver and more with all their CRA tax audit solutions.

Need CRA Tax Audit Help in Toronto?

There is nothing to be ashamed of when you find yourself in a difficult tax audit situation. The Canadian Revenue Agency (CRA) will want to make sure that you have paid all of your recent taxes that are due. If you have missed payments or forgotten to file a return, they will likely want to review your records. This can sometimes trigger a tax audit, which may cause some fear in people. If you don’t want to have to go through the extensive auditing process alone and have to pay fines to the CRA. If you live in the Toronto, York Region, Durham Region and more, you will want to find CRA Tax Audit Help to deal with these issues.

Tax 911 Now is the better way

Some people might be interested in hearing about the advantages that Tax 911 Now’s CRA Tax Audit Help can bring to them. To understand these advantages, they will need to think about how much they might owe to the CRA if the audit dealing fail. The CRA will find a way to request that these tax payments be made to them. They might be able garnish your wages, for instance. This would mean that a certain amount would be subtracted from your paycheck each month. All of this money would be transferred to the CRA until your tax debts were paid off. You can avoid issues like this if you seek out CRA tax audit solutions. These CRA Tax Audit Help can be well worth the investment for many people who might be looking to find this kind of help. Local Toronto residents may be facing some considerable tax issues these days. If you want to find a solution to some of these problems, consult with the experts at Tax 911 Now.

CRA Tax Audit Help by Tax Experts

Other people may be curious about how these CRA Tax Audit Help can work for them. The first step will simply be to contact a representative from Tax 911 Now. If you do this, they will link you up with an experienced consultant. Give this consultant some basic information about your tax issue, so you can get direction on what steps you should take. The CRA Tax Audit Help will be tailored for the individual who needs them. Tax 911 Now has years of experience doing this, we understand what you need in your CRA Tax Audit Help. There are many people who simply become overwhelmed by tax audits, but you don’t have to let that happen to you.

Let Tax 911 Now try to reduce your tax penalties

Finally, don’t forget that you can reduce the risks of future audit by dealing with these CRA tax audit properly and successfully now. Tax 911 Now has the expertise to guide you through the complicated audit process. You will be so relieved once the audit is over with satisfactory results. We will provide you with the optimized CRA Tax Audit Help once you become engaged with Tax 911 Now. This could be the best solution for many people living in the Toronto, York Region, Durham Region and more. You can call 1-877-918-2991 to get started for a free consultation.

5 Tips on Dealing With CRA Tax Audit

When it comes to dealing with CRA tax audits, you need professional tax audit help. Are you already taxed mentally and emotionally due to the CRA audit notice? Don’t let them taxing you financially. With the help of Tax 911 now, you can walk through the whole tax audit process with minimum stress and best tax outcome.

Here are five tips for dealing with the CRA:

Politeness Goes A Long Way:
If you are dealing with a CRA auditor, it can be difficult to stay calm. Especially the auditors from big city such as Toronto. However, write down the name of the representative, their department, phone number and the date of their call. If you get a CRA audit Toronto, one of the worst things that you can do is to ignore them. The CRA is willing to work with people provided that they meet them halfway.
Procrastination Is Enemy Number One:
If you are unable to get a hold of the CRA over the phone, then leave a message. The thing that the CRA values is that the person tried to get a hold of them. A CRA audit is not going to go away. If you ignore them, things will escalate, so it is far better to be honest with the CRA and not procrastinate talking to them. The last thing that you would want is for them to take tax evasion actions. The CRA will never fault you for being honest.
Never Volunteer Information:
When you are going through a CRA audit, it is important never to simply volunteer information to them over the phone. The CRA cannot legally force you to answer any questions over the phone. In these situations, it is best to hire a representative like Tax 911 Now. With Tax 911 Now, you have a company that is dedicated to helping you succeed in your CRA audit in all cities across Canada, including Toronto, Markham, Richmond Hill, Vancouver, etc.
Ask Them To Put It Into Writing And Mail It:
You can request the auditor to put the requirement in writing. This buys you extra time to get a representative, and it shows them that you are not deliberately avoiding them.
The CRA Audit Takes Time:
If you are dealing with a CRA audit Toronto, then the thing you need to keep in mind is that it will take time. The CRA takes their time, and they do not keep you informed either. A CRA audit Toronto can take anywhere from six to nine months. One thing to keep in mind is that just because the CRA says something, that does not mean that they are right.

One such company that would be Tax 911 Now. This company deals with tax audit daily, so they have experience. You can visit them by clicking here or you can also call them at 1-877-918-2991, in order to schedule a free consultation on tax audit help.

Best CRA Tax Audit Help for You and Your Toronto Area Business

Many people or businesses will be, if not have been, audited by CRA tax auditors. It is just a fact of life. Let’s face it, even with the best software, the best intentions and the most rigorous efforts to run a tight ship with every ‘i’ dotted and every ‘t’ crossed, an audit can still be frightening in the heart of individuals and business owners. If the Canada Revenue Agency (CRA) is slated to put your personal or business earnings under a microscope, you’ll need seriously committed and well-rounded professional CRA tax audit help to find the best CRA tax audit help.

Professional Accountant

You might assume a professional accountant should be enough. After all, a really good accountant understands accounting and numbers. An accountant is in an excellent position to explain your business’s day to day bookkeeping very well. However, an accountant may not have knowledge of the complex tax system. Without such knowledge, even the best accountant may find himself overwhelmed when faced by a determined tax agent. Moreover, an accountant are not trained to be negotiator and thus can not negotiate a best settlement for his client.

Good Tax Attorney

On the other side of the coin, a good tax attorney, while thoroughly versed in the legal aspect of tax system, may not have the needed accounting and bookkeeping know-how to explain your business’s day to day operations. Facing your Toronto tax audit requires thorough understanding and representation of your personal and business operation. You need people in your corner who understand both accounting and tax/legal systems. Clearly, the best CRA tax audit help offered at Tax 911 Now embrace both the accounting and legal aspects inherent to a tax audit of your personal or business earnings.

Fortunately, the best CRA tax audit service is available with local offices in the Toronto, York and Durham areas. Your Toronto business may not have an expensive and impressive pool of attorneys and accountants on staff like other big businesses do. Yet, with CRA tax audit help available through Tax 911 Now, there’s no need.

Dedicated Tax Audit Experts

Tax 911 Now is manned by dedicated, compassionate professionals determined to help you and your business. No matter the problems involve unfiled taxes, unreported income, tax levies or tax garnishments, our service can and will help you. Tax 911 Now’s professionals know accounting, tax as well as CRA’s complex rule and regulations. They understand the tax system and they know how to negotiate for their clients. Tax 911 Now’s CRA tax audit help offer the prevention of an unfair tax assessment.

For your personal or Toronto-based business CRA tax audit help, call Tax 911 Now today at 1-877-918-2991. Find us online at https://www.tax911now.ca/ or come for a visit. You’ll find us at 129 Telson Road, Suite # 100, Markham, Ontario, L3R 1E4.

How to Deal with CRA Tax Audits

Most taxpayers are alarmed when they receive audit requests from the Canada Revenue Agency (CRA). Tax Audit Help Toronto finds that the CRA uses computer-generated lists, special projects, leads, and associated files for selecting most taxpayers for audits, and of these methods the computer-generated list is most common. The CRA automated system randomly collects financial information for taxpayers across similar businesses or occupations to generate lists of returns, some with information inviting audits.

Groups are targeted

Special projects probe compliance of particular taxpayer groups. If any non-compliance discovered, the CRA may expand the audit locally, regionally, or nationally. Leads from previous audits or from outside sources and filings of taxpayers associated in business with those already audited round out the most common methods of selection.

CRA audits examine financial statements, previous audit results, ledgers, bank account statements, sales invoices, purchase receipts, expense accounts, and other business records. A desk audit (at a CRA office) may require the taxpayer to identify or explain questionable items and to bring specified documents for examination for unreported income. A field audit (at the taxpayer’s home or office) usually means a more serious potential liability.

We go investigate your taxes to ensure proper credits are given to you

When providing tax audit help in Toronto and other areas, Tax 911 Now has found that auditors do not review all information necessary. Auditor errors are not unusual and can cost taxpayers thousands; By working with Tax 911 Now for tax audit help, you can prevent such costly errors, first by reducing the audit risks.

Tax 911 Now’s comprehensive audit solution program first identifies taxpayer problem areas likely to attract CRA audits. The self-employed are more at risk of audits than are hourly or salaried workers. Sudden, dramatic changes in economic circumstances or a standard of living much higher than the norm for taxpayers similarly situated often arouse CRA curiosity. Business losses over several years may make the CRA suspect setoffs to other income. Participation in tax shelter programs like donation schemes is a matter for CRA scrutiny. Deduction of more than 15 per cent of income for home office expenses signals a case for an audit. Tax Audit Help Toronto advises taxpayers in any of these situations to be especially careful in keeping records and receipts for expenditures.

Tax 911 Now advises small business owners to have all returns filed on time and all documents ready and to be prepared for any audit. Records should detail all income and every expense. Although the CRA audits fewer than 5% of small business proprietors, it is important to keep complete records over seven years

The CRA’s interest in whether the self-employed report their full incomes is constant. The CRA also watches for discrepancies in incomes reported from sole proprietorships and partnerships. It is required that everything earned must be reported. Tax Audit Help Toronto advises small business owners to be consistent with record keeping.

A small business with lots of cash sales should record all of them and should file appropriate forms for all business areas on time. Claims for deductible expenses must relate to the business. By following these suggestions from the expert in tax audit help services in Toronto, taxpayers should be able to reduce the chance of CRA audits or handle them easily when there is one.

Need Tax Audit Help Toronto, Canada?

Each year countless Toronto residents live in fear of having their tax returns audited by the CRA in Canada. If you ever get a notice from the CRA about being audited, you should turn to professionals, like the tax team at Tax911now.ca, for tax audit help Toronto. Tax payer audit help Toronto is available or anyone who received audit notice sent by CRA demanding verification of tax reported.

Tax audit prevention

The first preventive step one can take to avoid a tax audit is to hire a tax accountant to file your returns for you. Business owners, especially, need to hire a tax accountant to keep track of all of their financial records. Audits can still happen, but they will not be as worrisome if you hire a reputable tax resolution firm that has experts in the tax system on board, such as ex CRA agents.

Bring all information to your meeting

Before you go in for professional tax audit help Toronto, Canada gather up all of your financial records and take them with you. That way a skilled tax lawyer can take a look at your tax situation and devise a tax resolution plan for you. Under Canadian law, taxpayers are supposed to keep copies of their financial records for at least six years, so take all the papers your tax resolution services tells you to bring. Tax resolution professionals are experts at devising the best plan for people that need tax audit help Toronto.

Undergoing an audit by the Canadian Review Agency is one of the most stressful things. You will want to make sure you to enlist the services of a professional tax firm that specializes in tax audit help Toronto. When you hire professional tax audit help Toronto, you can let them handle the audit for you. In fact, the less time you spend talking to the auditor, the better.

Let your tax representatives do all the talking for you. Tax resolution firms that have ex CRA agents and skilled tax specialists on staff are the best to use when you need tax audit help Toronto. Contact tax911now if you need tax audit help Toronto Canada.

Tax Audit Help in Toronto

Tax audit risks

Every business and individual in Canada who pays taxes can be selected for an audit regardless of whether there are irregularities in their tax returns or not. Audits are conducted for a number of reasons, including those with tax return problems and others who are randomly selected by a computer program. In general, the risk of being selected for a CRA audit are greatly reduced if you work with a professional tax preparation service who has tax audit expertise. Equipped with years of tax audit expertise, Tax 911 Now, with offices in Toronto, York and Durham regions, prepares the tax returns of the business or individual with the mandate of audit risk control in mind.

Need tax audit help?

If you’ve received a audit notice and need help, Tax audit help can be found by using a Tax 911 tax consultant in Toronto. When a CRA audit begins the taxpayer is contacted directly by the CRA; Tax representative at Tax 911 Now can start to represent you in the audit and help to schedule meetings and ensure all the required documents are assembled and complete before being presented to a CRA agent.

We are Tax Audit Experts

For tax audit help, Toronto taxpayers can choose one of two options for completing an audit, which are to assemble and send required documents to a CRA office or to allow a CRA agent to audit the business at its place of business. Tax 911 will ensure the audit goes well by providing tax audit help effectively and professionally. Tax audit help starts with a negotiation with CRA agents on the scope, the time and the location of the audit and then organizing all meeting times and locations. For an audit to be completed successfully a number of documents are required by the CRA agents, including sales ledgers, bank account statements and invoices, etc. Tax 911 Now can provide tax audit help Toronto businesses need by checking all the documents required for the audit are complete; when required a tax professional will usually attend the audit at the meeting place or place of business to ensure all the auditor’s requirement are met. By being present throughout the audit, the tax professional can ensure correct procedures are followed and any questions the auditor has are answered quickly and correctly without disclosing information unnecessarily.

Tax help for all over the Greater Toronto Area GTA

For many Toronto, York and Durham residents, employing a professional tax preparation and accounting services, such as Tax 911 Now, gives them peace of mind that their taxes and potential tax audit problems are handled correctly. By handling the CRA tax audit for individuals and business for many years, Tax 911 Now has the expertise to make sure that tax returns are audit proof to reduce the risk of audit problem for future.

For help with taxes from Tax 911 Toronto individuals and businesses can call 1-877-918-2991 or call into the office at 129 Telson Road, Suite # 100, Markham, Ontario, L3R 1E4.

Tax Alert: CRA Tax Audit on Condo Flippers

In recent few months, major news medias warned the public about upcoming CRA (Canada Revenue Agency) condo tax audits. Financial Posts and The Toronto Star published that the Canada Revenue Agency is undergoing tax audits of condo sales to check for non compliance with the Income Tax Act.

The focus of the audit is to determine whether the profit from your condo sale is treated as “capital gains” (where only 50% is taxable) or as “income” (where 100% of the gain is taxable). The CRA is particularly concerned with “assignment” transactions where the person buys a pre-construction condo but subsequently sales the right to buy the condo before its final closing. In the past, builders are not required to disclose the names of the original purchaser but under new CRA rules they may have to disclose them.

People who have assigned multiple properties over the year or even the last few years will have difficulty persuading the CRA that these transactions should be treated as capital gains rather than income.

CRA is also going after people who take possession of the condo unit but sale it shortly after the date of closing, typically shorter than year and a half. Planning and preparation plays a key role in protecting yourself. Most taxpayers have no ideas how to prepare the needed documentation to gain advantage in winning the battle.

If the CRA believes that the transaction is to be reported as income rather than capital gains, the resulting financial consequence can be very costly. For example, if your gain is $100,000 and CRA deems that this is to be classified as “income” then you must include the entire $100,000 as taxable income in the year of the sale. If it is capital gains then only $50,000 is taxable.

In addition, CRA will also charge you interest on the taxes that you owe after a reassessment. For people who did not report the transaction all together, may face hefty gross negligence penalties because of it.

The taxpayer will need to act quickly in gathering evidence and formulating a defence in time to respond to the audit proposal letter.

It happened in the past that taxpayers, out of innocence, had casual conversation with CRA auditor and got irreversible damage out of it. Because the goal of tax auditors, even if the nicest ones, is to get biggest tax revenue possible from you. Then everything you disclosure can be used against you.

It is very important that as soon as you receive CRA audit letter, treat it as high alert and immediately, see professional protection before it is too late. Contact us at 1-877-918-2991 or email Help@Tax911Now.ca or fill out the Contact Form to the top left right away if you are facing serious audit risks.

Guide To Getting CRA Audit Services in Toronto

Many residents in the Toronto area may suddenly find themselves needing tax services. They may not understand what they need to do in order to clear some of these issues that may have come up for them. These residents will want to secure CRA audit Toronto services.

CRA investigation?

There are a few reasons why people may suddenly find themselves being investigated by the Canadian Revenue Agency (CRA). This is the local governmental body that will be performing reviews of the tax records for citizens. Some may have heard that CRA audit Toronto services are available to them through Tax 911 Now that is dedicated to providing tax audit help Toronto residents can trust. Residents from the Toronto, York Region, Durham Region and more will be curious about how they can get help.

Several people out there may have found themselves the target of a review by the CRA. The agency will want to take a closer look at the filings of many taxpayers. They may also be curious about people who tend to owe quite a bit in back penalties. Though there may be many reasons why it might start, it seems that most people will want to take a look at tax audit Toronto services.

Many individuals might be wondering how they can cope with some of the audit notice that they can expect to receive from the CRA. This can place a considerable burden on anyone who may be depending on that kind of income to get by in their lives. The fact is that there are a number of different CRA audit Toronto services for taxpayers in Greater Toronto Area or GTA.

There are actually quite a few different ways that these tax audit services could help these people. They may be looking for ways to make their audit go as smoothly as possible. Most everyday people will be a little confused by the process that occurs during an audit. This is why CRA audit Toronto services are so important to many people out there. The team at Tax 911 Now are actually very dedicated and professional. This means that residents can trust them to deliver CRA audit Toronto services professionally and effectively.

Need tax audit help

Finally, Tax 911 Now will be available to help just about everyone that lives in the Toronto, York Region, Durham Region and more areas. They feature many tax professionals who understand how to deliver CRA audit Toronto services effectively. Call Tax 911 Now team at 1-877-918-2991 and come for a visit to get help on your tax audits immediately.

CRA GST HST Audit

CRA GST HST Audit Alert: CRA started to be more strict on auditing people with high business income without collecting GST or HST.

Most businesses start small. When they are small, say their sales are below $30,000, it is ok to not to register GST/HST accounts. As they grow to more than $30,000, then it becomes compulsory for businesses to register GST/HST accounts and start collecting on behalf of CRA.

Many business owners do not understand their obligations to register GST/HST accounts even if they exceed the sales threshold. While other business owners, who may have registered GST/HST accounts, did not report or remit the GST HST properly for various reasons and caused CRA GST HST audit trouble years down the road.

We know too many small business owners being audited and penalized due to the GST or HST reporting problems.

Some of them, due to circumstances, amount to criminal investigation; some even lost their homes. Once the GST HST problem is caught by CRA, life will never be the same.

What You Need to Do Immediately to Fix Your GST HST Audit Problems?

If you feel you will be audited by CRA pretty soon or you have received letters or calls or personal visit from the tax man, then you cannot afford to wait any longer! Do something to resolve your tax audit problems.

It makes far more sense, and will be less costly, to resolve your tax audit problem right away, rather than dealing with the financial burden of huge reassessment amount and other penalties later.

The first step is to stop procrastinating and running. Take action today!

Hire someone who is qualified and has the experience to help you survive the audit. Many people try to handle their tax audit themselves, resulting in disastrous financial results. Some even ended up fighting in court.

We have helped many clients with their tax audits. Our experience and expertise have led to superior results that even senior tax auditors respect. See that yourself in testimonials.

Get Tax Relief TODAY by calling Tax 911 Now team at 877-918-2991 or go to Contact page.

Our Free No Obligation Consultation & Result Guarantee

To begin with, we offer first time RISK FREE unlimited time consultation just to help you to understand the depth and complexity of your tax problems. We will also provide you the recommended steps to take to fix your tax problems. It is no obligation and thus it is completely up to you to decide what to do from there.

We guarantee the result we can get is much more beneficial than if you do it yourself. Save you thousands of monies in addition to the relieve of the awful stress. We take the emotional factors out of the process. We take care of the uncertainty for you.

CRA Tax Audit Help

Why do people get audited? It could very possibly be that the CRA computer simply selected your tax return for tax audit. Or potentially your type of business is part of a compliance tax audit test program.

Most people feel frightened or worried once receive tax audit request letters sent by Canada Revenue Agency or CRA. It is necessary to understand some important aspects of tax audit to be able to deal with it successfully. Such as how CRA select tax audit targets, how the tax audit is conducted, etc.

How CRA select files for their tax audits?

To pick potential tax audit target, CRA typically use the following four methods:

1. Computer-generated lists
Most returns are selected for tax audit review from computer-generated lists. For example, the computer system can compare selected financial information of clients engaged in similar business or occupations and generate lists of returns with tax audit potential. From these lists CRA chooses specific returns to be audited.

2. Tax Audit projects
In some cases, CRA test the compliance of a particular group of clients. If the tax audit test results indicate that there is significant non compliance within the group, CRA may audit its members on a local, regional, or national basis.

3. Leads for tax audit
Leads include information from other tax audits or investigations, as well as information from outside sources.

4. Secondary files
Sometimes CRA select files for tax audit because of their association with other previously selected files. For example, if you are in partnership with another client, and that person’s file has been selected for tax audit, it is usually more convenient to examine all the records at the same time.

How are tax audits conducted?

If your return is selected for tax audit, an auditor will review your records at a CRA office or called office audit or at your place of business, also known as field audit. The tax audit usually includes an examination of the following documents:

– Information on file at the CRA, such as the returns selected for tax audit, financial statements, tax audit reports from any previous tax audits, and any other information on file; and
– Your business records including your ledgers, journals, bank accounts, sales invoices, purchase vouchers, and expense accounts.

The auditor will contact you and either request that you send specific records to a CRA office, or arrange a convenient date and time to start the tax audit at your place of business. Throughout the process, the auditor can get information from any relevant people.

Office Audits
Notice of a Desk Audit will probably arrive by mail and may require that you identify specific items on the return that are in question. You or your professional tax representative may be required to bring certain documents such as bank records to your local tax office for examination. This allows the tax man to check for unreported income. Generally speaking, tax office audits are performed with a Tax Examiner who will request various documents and explanations of deductions.

Field Audits
When a tax audit is scheduled at your home or office it should be considered a serious matter. The revenue agents handling these types of tax audits have received a great deal of training beyond the typical Tax Examiner. Naturally, during any type of audit, it can lead to audits of other tax years and other tax deductions.

Why get professional tax audit help?

While the auditor’s function is to insure compliance with the law, many government auditors are often pressed for time so they don’t always perform a comprehensive review of all appropriate documents. Plus, it’s often difficult for an auditor to be objective, assuring the taxpayer of his or her rights.

Very often, auditors request information without explaining how the information will be used, plus they may not explain properly what might happen to those missing information. Because of these issues, errors can occur on the part of the auditor and as a result, an assessment with error along with potential fraud penalties costing the taxpayer thousands of dollars. Never take chances with the CRA tax audit. Hire tax audit experts who will make sure your rights are protected.

As experienced tax professionals, we focus our tax practice on helping individuals and businesses resolve their tax audit problems. We bring a depth of financial and tax experience to the tax resolution arena along with a great deal of insight as to the most effective ways to handle an tax audit. We sensitively guide you through the procedure and explain exactly what you need to know and what to do.

More often than not, we can arrange it so that you will not have to meet with an auditor or tax agent. So, don’t go in alone. It’s a scary feeling to face the CRA alone and we can help make the experience less frightening. Remember, every taxpayer has the fundamental right of due process, fairness and representation.

It is very important to hire tax resolution experts who can professionally asses your options, defend your position and get you all your rights.

In summary the tax audit services we provide include: CRA Income Tax Audit, GST/HST Tax Audit, Payroll CRA Audit, Tax Audit Representation, Help with WSIB Audit, etc.

What You Need to Do Immediately to Fix Your Tax Audit Problems?

If you feel you will be audited by CRA pretty soon or you have received letters or calls or personal visit from the tax man, then you cannot afford to wait any longer! Do something to resolve your tax audit problems.

It makes far more sense, and will be less costly, to resolve your tax audit problem right away, rather than dealing with the financial burden of huge reassessment amount and other penalties later.

The first step is to stop procrastinating and running. Take action today!

Hire someone who is qualified and has the experience to help you survive the tax audit. Many people try to handle their tax audit themselves, resulting in disastrous financial results. Some even ended up fighting in court.

We have helped many clients with their tax audits. Our experience and expertise have led to superior results that even senior tax auditors respect. See that yourself in testimonials.

Get Tax Audit help TODAY by calling Tax 911 Now team at 877-918-2991 or go to Contact page.

Our Free No Obligation Consultation & Result Guarantee

We guarantee the tax audit result we can get is much more beneficial than if you do it yourself. Save you thousands of dollars in addition to the relief of the awful stress. We take the emotional factors out of the process. We take care of the uncertainty for you.

Are you in any of the following cities? We offer our services to you:

Toronto
Markham
Vancouver
Calgary