We are a specialized Canadian tax law firm with 30 years of experience and have seen it all, so our experience tells us that nothing creates as much fear, confusion and stress as a tax audit. Starting from business owners who contact us less than one week before a scheduled income tax trial to professional accountants who call us at the first sign of a Canada Revenue Agency (CRA) audit and retain our tax help from the start, our best Canadian tax lawyers have always been the first choice of every Canadian taxpayer. Every successful, or unsuccessful, owner of a small- or medium-sized enterprise (SME) will at some point face a call from a Canada Revenue Agency tax auditor and the key to survive such a tax audit is to engage the right Canadian tax professionals.
3 Secrets to win a CRA audit
One of the first secrets to win a CRA tax audit is to retain a chartered professional accountant (CPA). A good professional accountant will ensure that your tax returns are filed on time with complete accuracy, will deduct every expense you are entitled to and will respond to tax enquiries on a timely basis and without missing the deadline. Many business (and personal) clients come to us when their existing accountant has mishandled their tax affairs, our best Canadian tax lawyers take charge of the situation immediately, start dealing with CRA, and suggest a change of accountant forthwith. The second secret is to hire a professional Canadian tax advisor as soon as CRA contacts you. Any information given to a tax auditor can be used against you thus one of our Canadian tax lawyers should be retained at an early stage. Another secret is to make sure that your tax case is good. Our team of expert Canadian tax lawyers will make sure that it’s worth continuing with the tax fight. Some other tips to winning a CRA tax audit includes responding to CRA on a timely basis, making sure all information is provided as soon as requested. Lastly you should ensure that your tax professional is reporting to you about your tax case and you are updated on the status of the tax dispute and copied with correspondence, follow up. Our Canadian tax lawyers keep our clients updated on the status of their file on an ongoing basis.
Why Choose us as your income tax lawyer
We are a small boutique firm of specialized Canadian income tax lawyers. Why choose us? The answer is simple. We are both tax accountants and income tax lawyers so we understand the law and the numbers. We can set up your business the right way from the first day. We have 30 years of experience, with the knowledge and expertise that brings and that a lawyer who has only been in practice for a few years cannot hope to master. We can also help when you’re going to be audited, have been sent an incorrect CRA Notice of Assessment, or when you have any tax dispute with CRA. Contact us to get more help from our expert Toronto tax.
How does the CRA decide which companies or individuals to audit?
The CRA selects a file for audit based on a risk assessment. The assessment looks at a number of factors, including the probability or frequency of errors in tax returns or whether there are indications of non-compliance with tax obligations.
Can the CRA look at my bank account?
The CRA may audit your bank account and assume cash deposits are income. It will be your responsibility to prove otherwise, such as the money was a gift. They may perform an indirect determination of income by expenses.
What if my accountant made major mistakes during CRA tax audit?
If your accountant has put the wrong information or figures in the tax document and you sign the document without fully understanding the figures, you are accepting full legal responsibility for any mistakes that may have been made by your accountant.