We solve serious CRA tax problems

Financial Services

Financial Services

Today’s financial services industry is faced by new demands from investors and regulators alike. These changing demands affect their business processes.

The industry continues to address regulatory reform and altering financial reporting requirements. They must deal with the implementation of cost-effective technologies, competitive talent acquisition circumstances, and increasing demands from all stakeholders.

Our financial accounting services can help you develop a more accurate and complete picture of your resource inflows and outflows.

Our team can provide you with:

  • Audit and technical accounting services.
  • Regulatory, compliance, and bookkeeping services.
  • High level accounting, financial, taxation, and business advisory services.
  • Fund structuring and tax planning services.
  • Input on legislative and regulatory developments impacting your industry, and
  • Guidance on fund operations.

Chartered Professional Accountant in Canada, U.S. and U.K.

Case Study

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.

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Disclaimer: Articles are for general information only and do not constitute tax advice. They cannot be relied upon.

FAQS

What is the Voluntary Disclosure Program?
Voluntary disclosure is the name of the Canada Revenue Agency (CRA) Tax amnesty Program that allows Canadian taxpayers to correct back tax problems including unfiled tax returns or unreported income. Taxpayers can submit Voluntary disclosure application along with corrected or missing tax returns in order to avoid tax penalties or prosecution.
What is the Voluntary Disclosure Program?
Voluntary disclosure is the name of the Canada Revenue Agency (CRA) Tax amnesty Program that allows Canadian taxpayers to correct back tax problems including unfiled tax returns or unreported income. Taxpayers can submit Voluntary disclosure application along with corrected or missing tax returns in order to avoid tax penalties or prosecution.
What is the Voluntary Disclosure Program?
Voluntary disclosure is the name of the Canada Revenue Agency (CRA) Tax amnesty Program that allows Canadian taxpayers to correct back tax problems including unfiled tax returns or unreported income. Taxpayers can submit Voluntary disclosure application along with corrected or missing tax returns in order to avoid tax penalties or prosecution.

Weekly Tips

Disclaimer: Articles are for general information only and do not constitute tax advice. They cannot be relied upon.



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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.

Faris CPA | Toronto Tax Accountant
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4.9
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Was very professional and fast with helping me file taxes that I have missed over the years. Highly recommend :)
Response from the owner: Thanks.
Excellent service! Sam helped make a stressful, complicated situation much easier to deal with, showing great patience and compassion. I'm very grateful.
Response from the owner: Thank you.
Sam and his team helped me with filing my complicated corporate tax. He is very informative, and knowledgable and most importantly always available to answer your questions and concerns. He is very detailed and spent a lot of time preparing my tax file and fixing my previous accountant’s mistakes. I should also mention that his fee was very fair. Thank you so much Sam!
Response from the owner: Thank you.
Had a meeting with Sam regarding my tax matter with the CRA. Sam was informative and provided an excellent advice to handle the situation.
Response from the owner: Many thanks for the positive review.
CRA audited me based on net worth audit. This audit lasted almost 2 years. I suffered emotionally and financially as a result. Bringing Sam and his team into the picture was the best decision that I have ever made. Sam followed a very unique strategy which led to dropping the taxes to my satisfaction. Thanks Sam for all your hard work.
Response from the owner: Many thanks.
I wish I met Sam of Faris CPA many years ago. He would have saved me lots of money and kept me out of troubles with the CRA. His performance exceeded expectations. 10 stars
Response from the owner: Many thanks.
Sam is the man to handle any CRA dispute. Very happy with his services and the results that he achieved for me.
Response from the owner: Thanks.
Sam Faris helped me with the HST audit which involved building a new houses. CRA proposed to assess the houses that I built higher than it should be. Sam approach was convincing and knock down the assessment significantly. Thanks to Sam that I did not have to file objection and the issue was settled at the audit stage with the least cost.
Response from the owner: Many thanks for your positive review.
Hire Sam if you have any tax issue with the CRA. He is highly reliable and trust worthy and will absolutely look after your best interest. Mark my word on this as this is based on my recent experience having Sam dealing with my issue with the CRA.
Response from the owner: Thank you.
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