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Category: General Help

What Classifies as a Business Expense

What Classifies as a Business Expense

What classifies as a business expense in Canada? For many Canadian business owners and entrepreneurs, understanding what qualifies as a business expense can be a tad tricky. Yet, it’s essential knowledge for anyone aiming to maximize their tax deductions and...
Tax Tips For Entrepreneurs

Tax Tips For Entrepreneurs

The entrepreneurial journey is one of challenges, opportunities, and endless learning. Often lost in the myriad of tasks, research, and decisions, however, are vital tax issues, like how much entrepreneurs pay in taxes and how taxes affect entrepreneurs in Canada....
What Assets Can The CRA Seize?

What Assets Can The CRA Seize?

Business or individual, the CRA has the authority to seize and place liens on assets when taxpayers fail to fulfill their tax obligations. The CRA’s primary goal in asset liens and seizures are to recover the owed taxes and encourage compliance with tax laws. In...
Understanding Net Worth and How it Can Be Audited

Understanding Net Worth and How it Can Be Audited

Whether you’re an individual or a business, conducting regular net worth audits is necessary much in the same way that your yearly trips to the doctor’s office are for a physical: they help you stay on top of your financial health and proactively address...
pro-tip

Pro Tip

ACCESSING THE SMALL BUSINESS DEDUCTION IN YOUR BUSINESS

The Small Business Deduction gives businesses a tax deduction on the first $500,000 of income. This saves an eligible corporation around up to $50,000 in income taxes. There are a number of conditions that have to be met to be eligible for this deduction.

Had a great experience with Sam Faris and his team. Sam took over my file from the previous accountant and was able to fix significant mistakes in the books which ended up saving me taxes and get me a refund for money that I already paid to the government. They have performed the work on timely basis with the least cost possible. Anyone who is in search for the best tax consultant in the country, Sam Faris is the man. Thank you Sam and his team for all the amazing work.
Faris is an outstanding accountant. A professional at the highest level that comprehends the intrinsic power and beauty of numbers. Serving the appropriate value to each person or company, longing for his personal imagination and process in action keeping financial accounts. He's highly recommended in knowing the magical reality of numbers.
Faris CPA was awesome! I cannot express how grateful I was during my tax audit.

Super kind and approachable- they took the time to explain the entire process. They answered all my questions/concerns and made sure I understood everything.

They made sure nothing was overlooked and would keep in touch with me should they need any docs as well as asked me questions to ensure accuracy.

I really appreciated their dedication and expertise! For anything tax-related, I truly recommend Faris CPA.
Response from the owner:Thank you Donald for your five stars review. We will remain at your disposal if you need our services in the future.
Great experience dealing with Sam Faris and his team. They were transparent, patient with their explanations and they meet all promises. Highly reliable and trustworthy firm. They promise and they meet all their promises. If you are looking for the best tax consultant firm, I highly recommend Faris CPA.
Response from the owner:Many thanks and much appreciated for the kind and positive review.