We solve serious CRA tax problems

What is a Chartered Professional Accountant Toronto?

CRA T1135 Form

Faris CPA is an accounting firm that specializes in tax and tax related issues. There are many people out there who offer what are commonly known as accounting services. These range from simple bookkeeping to income tax audit support and tax planning. However, there is a key difference between all those people and people who are Chartered Professional Accountants. Only Chartered Professional Accountants go through rigorous licensing processes, have their knowledge updated annually as a licensing requirements, are insured in case someone suffers a loss, and are under the oversight of CPA Canada.

CPA Canada sets standards for conduct and work by Chartered Professional Accountants through a number of standards boards and oversight councils. These bodies make sure that they constantly keep the profession up to date with best practices, changes in industry and government, and otherwise make sure that clients of Chartered Professional Accountants are protected. When you hire a CPA, you can rest assured that you are getting the highest quality of services by a competent and ethical service provider. Regular persons who provide.

Bookkeeping services are not supervised and you cannot be sure about their training and skills. Even if the person providing bookkeeping services is competent, they work without regulatory oversight. Also, a bookkeeper, that is not a Chartered Professional Accountant or supervised by a CPA, should never represent you in an income tax audit or speak to the CRA during an income tax audit. Having someone without the skills and training necessary to navigate an income tax audit with the CRA could leave you with a tax reassessment that then you have to object to and possibly appeal to the Tax Court of Canada. It is always better to get things right the first time than to ensure the stress, cost, and uncertainty of fighting the CRA after the fact.

Filing Voluntary Disclosures​

When you get tax work done, like filing Voluntary Disclosures, a Chartered Professional Accountant make a difference. Voluntary Disclosures are complicated and require specialized knowledge and skills that most others do not possess. Successful Voluntary Disclosures require that the evidence be presented in a way that the Canada Revenue Agency is convinced. Usually the evidence is numbers, and numbers is what Chartered Professional Accountants deal with and are trained for. Another key to successful Voluntary Disclosures is the ability to cogently present the case in line with the Canada Revenue Agency’s policies. Make sure your tax work, such as Voluntary Disclosures, are handled properly from the get go so you stand the best chance of getting the full benefit of the Voluntary Disclosure Program. Given the importance of getting things right the first time when filing Voluntary Disclosures, should you really take a risk with someone who is not trained and supervised like a Chartered Professional Accountant is?

Although many people offer services that look or sound like accounting, such as bookkeeping, unless the person is certified and supervised like a Chartered Professional Accountant is, you may be setting yourself up for disappointment and failure. Work, such as a Voluntary Disclosures, is too important to be left to someone who lacks the necessary skills and training. Get the CPA stamp of approval and get a Chartered Professional Accountant on board from the get go.

ACCA-Logo
AICPA-Logo
Chartered professional accountant logo
Chartered Professional Accountant in Canada, U.S. and U.K.

Testimonial

“Sam Faris reduced the significant unreported income based on net worth audit to be nil. Sam’s approach in fighting these types of complex audits is unique and sophisticated. He found countless mistakes made by the auditor which were rectified when Sam appealed the audit decision. Instead of owing significant amount of taxes, Sam reduced it to zero. I highly recommend to hire Sam for this type of audits and any CRA problem.”

E.M., Ottawa
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.

I was referred to Mr. Faris by another professional who recommended him to deal with my multiple years of outstanding corporate and tax returns. I interviewed Sam and was impressed in his confidence and transparency. He did not promise the moon just to get my business. Sam was able to file all returns under the voluntary disclosure program. After completing filling all tax returns, I realized the amount of money he saved me. I enjoyed very much working with him. He ensured that the work progress flow smoothly without any complications. He took to consideration the emotional stress factor and he was available to speak with me even beyond business hours just to make me more calm and to make me feel that he is on top of the matter and it will be resolved to my satisfaction. Indeed, this is what happened. The matter was resolved to my satisfaction and CRA concluded that the returns which Sam filed are reasonable and there is no need to further audit me nor my company. In summary, Sam is a life saver. He saved me and saved my family and now I am in the right track where all my tax filing obligations are met and I don’t owe any taxes. So grateful to Sam and his dedication while working on my file.
Sam is an excellent CPA and the best tax consultant in the country. He helped me to deal with a very complicated tax audit with the CRA where the CRA sent me a proposal assessment of 1.5 million dollars based on their net worth audit calculation and analysis. Sam was able to provide a counter analysis which highlighted significant mistakes that the auditor made with his assumptions and calculations. It’s ridicules that CRA wanted to taxed me on a loan that I obtained from my bank. Sam dealt with this audit perfectly. He demonstrated a very high level of expertise and CRA had to accept his counter analysis with no question asked. Many thanks to Sam’s efforts and high business standards in dealing with this issue and resolve it to my favor. I will have Sam as my primary CPA going forward so I can focus on doing business and will have a peace of mind in terms of the high quality of work done by him. Well deserved this review with the 5 stars rating.
Sam Faris helped me with a complex cross border tax matter. This issue involved 12 years of tax returns and it was as a result from mistakes that my previous accountant did. He was able to perfectly address the issue with the CRA and to fix the returns under the voluntary disclosure program. End results; CRA accepted Sam’s work with not a single question and the returns were reassessed to my satisfaction without penalties and interest. Many thanks to Sam brilliant work.
Response from the owner:Dear Sir It was a pleasure working on your file and get you the results that you aimed to have and to your satisfaction. We have been dealing with similar cases for many years and we were confident that the results are favorable. Please feel free to contact us in the future if you do require further help.
I found Sam’s firm online and I read the excellent Google reviews about him and his team. I decided to hire him to help me navigate an issue with the CRA. Sam delivered as expected and as promised. Results were to my satisfaction and I am very happy with how the process was handled. Highly professional and extremely knowledgeable.
Response from the owner:Dear Tanya Thank you for the 5 stars Google review and your kind words. We strive to provide the best customer service and make our clients relax and calm during the process. The cases we are taking are very sensitive so providing quality work to the CRA is extremely important so just to avoid any escalation and to make sure that our package is accepted from the first round. We will remain at your disposal anytime you require our services. Sam Faris
You will notice Sam is very quick with his responses. He knows his stuff and gives solid advice. Highly efficient, would recommend.
Response from the owner:Dear Jay Thank you for the 5 stars positive review. Working with you was pleasant too. Many thanks for your business and please do feel free to contact me if you have any questions. Sam Faris
after the initial assessment I had with Sam, he proposed a strategy to dispute CRA decision. He knew up front how to approach my case as he seemed that he dealt with similar cases many times. I hired him the end results were as promised and no surprises. Sam is very trust worthy and has a high business standards. May thanks Sam.
Response from the owner:Many thanks for the positive review.
I recently turned to Faris CPA for help with my tax filing, and I must say, I'm over the moon with the results! The whole process was a breeze, saving me time and stress. What really stood out was the friendly professionalism, impressive expertise, and crystal-clear communication from Sam and his team. They made what could've been a daunting task feel like a walk in the park! If you're looking for a warm, approachable tax expert who genuinely cares about his clients, I wholeheartedly recommend Sam and the folks at Faris CPA - they're great tax consultants!
Response from the owner:Many thanks.
Working with Sam and his team was an extremely valuable experience. One of the best Tax consultants in Toronto I've ever come across.

He has a ton of experience resolving problems with the CRA and was truly a big asset to me when I had issues I needed help with.

Would highly recommend Sam and Faris CPA, thanks again for all the great work!
Response from the owner:Thank you Paul for your positive feedback and we are glad we met your expectations.
I had an amazing experience working with Faris CPA for my CRA needs. They really know the CRA processes and made everything so easy. They were super professional, always ready to answer my questions, and made sure everything was done right. I couldn't have asked for better help. Highly recommend their services for anyone dealing with the CRA! -Sara
Response from the owner:Thank you Sara for the 5 stars review.