We solve serious CRA tax problems

CRA Tax Help in Toronto

If you are looking for tax help, you don’t need a tax lawyer. At Faris CPA, we’ve been providing CRA tax help and saving taxpayers unnecessary legal fees for over a decade.

Every taxpayer’s financial situation is unique, but whether you’re filing taxes as a personal or professional entity, the process can feel overwhelming if you don’t have the appropriate tools and resources at your disposal.

Learn how our CPA firm in Toronto provides trusted tax and accounting services to individuals and organizations in Toronto and across the GTA.

GET YOUR TAX PROBLEMS SOLVED BY FARIS & TEAM

TAX HELP EXPERTS IN TORONTO

Tax Help Experts in Toronto

Faris CPA is proud to be a leading accounting firm in Toronto with over 15 years of industry experience. We work with individuals and businesses across Canada to streamline their financial process and ensure their tax filings are submitted according to CRA guidelines.

When it comes to filing your taxes or disputing a CRA assessment, we offer the tools and resources necessary to ensure your financial standing is secure. We assist clients across a wide range of industries, including retail, construction, and non-profit organizations through our esteemed accounting, financial, taxation and business advisory services.

Navigate Your CRA Tax Matters with Confidence
Contact Our Tax Professionals Today!

Expert tax guidance, Chartered Professional Accountant

Filing Your Taxes

How to Get Started

The process of filing yearly taxes is often unique to each Canadian.

When filing taxes, whether independently or with the assistance of a professional tax specialist, having all your personal information available is essential. The CRA requires taxpayers to report the entirety of their income, any relevant deductions, and the details of any dependents if necessary.

It’s important for Canadians to understand what they can and cannot claim on their taxes to avoid a tax audit by the CRA. With a CRA tax help specialist by your side, you can feel confident knowing your taxes are being filed according to federal guidelines.

Adjusting Your Tax Return

It’s not uncommon to find errors in your CRA tax forms even after they’ve been filed. The good news is the CRA affords taxpayers the opportunity to adjust tax returns filed up to 10 years ago. This process is relatively simple as forms can be obtained directly from the CRA’s website.

Common Myths to Avoid

When it comes to filing your taxes, there are common myths that taxpayers are exposed to and must be wary of when engaging in their own financial business, including:

Higher Tax Bracket Means Losing More to Taxes

The reality is that tax brackets are marginal which means that substantially higher rates apply to each dollar above the cut-off.

All Investment Incomes are Taxes Equally

If you have various investment incomes, it’s important to differentiate between them as they may not all be taxed equally. A tax specialist can assist you in determining which are contributing to your income and the most effective ways to reduce your taxes and improve your financial portfolio.

The Rich Have Secret Ways to Avoid Higher Taxes

The secret is that there is no secret — financial systems were designed for those in higher tax brackets and offer more loopholes and easy ways to pay higher sums in taxes.

Find a Tax Specialist in Canada

Faris CPA is a leading tax help centre in Toronto with over a decade of accounting experience and expertise. We offer a more efficient way to file and submit your taxes and will guide you through the entire process from start to finish, ensuring you have the insight and tools needed to maximize your return and minimize your payments.

Schedule an assesment now

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Chartered Professional Accountant (CPA) in Canada, U.S. and U.K.

HIRE AN EXPERIENCED CPA FOR CRA TAX HELP

Hire an Experienced CPA for CRA Tax Help

Faris CPA is proud to be a leading accounting firm in Toronto with over 15 years of experience. We offer professional assistance to our clients to effortlessly streamline their taxes and file their returns.

We understand the complexities and nuances involved during tax season. Our specialists provide the tools, resources, and insight our clients need to submit the right claims and maximize their refund potential.

Whether you’re self-employed or a part of a large corporation, we can help make filing taxes easy and efficient. Trust Faris CPA to provide the highest-level accounting, taxation, and business advisory services.

FAQS

When to file taxes in Canada

In Canada, income taxes are required to be submitted by April 30 with details pertaining to your income from the previous calendar year. The CRA may accept late submissions on a case-by-case basis, though there may be a penalty.

What are the types of taxes I need to file?

There are four types of income taxes Canadians should be aware of when it comes time to file:

  • Personal
  • Business
  • Corporation
  • Trust

Each tax type relates to a specific area of income and includes a range of deduction and claim options. A Faris CPA’s tax help centre, we can assist you in understanding where you should focus your attention and the types of documents and details you’ll need to effectively file your income tax.

Why is it important to file taxes?

Your taxes are an important part of your contribution to Canada’s economy and filing yearly taxes allows the CRA to determine if you’re eligible for any returns or if you’re required to pay back a specified amount to the government.

When taxes are not filed properly, there are significant penalties attached, including financial late filing penalties, not receiving certain benefits such as Old Age Security, and, in severe cases, can lead to prosecution.

With the assistance of an accounting and taxation expert at Faris CPA, you can avoid all the above and secure your financial standing.

How to prepare to file your taxes

The first step to filing your taxes is gathering all your income-related documents, investments, donations, RRSP contributions, and details of any dependents. Once you have all the necessary documentation, a Canadian income tax specialist can help you organize your information and determine what is submittable to the CRA.

At Faris CPA, we help individuals and businesses in Toronto and across the GTA streamline their tax filings and ensure they’re maximizing their return potential. We’ll guide you through the process and assist in determining which investments can contribute to your deductions and how you can minimize your chances of owing money to the federal government.

How can I get assistance with my tax return?

If you’re overwhelmed with the process of filing taxes, a licensed tax specialist can help.

At Faris CPA, we provide trusted accounting and taxation services in Toronto and across the GTA. With over 15 years of experience, we understand the nuances involved in submitting personal and professional taxes and what the CRA expects from taxpayers.

We’ll work closely with you to determine the appropriate claims and deductions to submit, ensuring we’re maximizing your refund potential and minimizing the chance of owing any money to the federal government.

Get in touch with our team today to learn about our specialized services.

Cost of tax assistance in Toronto

The cost of working with a CRA tax help specialist will vary for each Canadian, depending on the scope of the services required.

At Faris CPA, we believe in offering affordable tax help to clients in Toronto and will work closely with each client to ensure they’re receiving the appropriate services at fair prices.

Where can I find tax help near me?

If you’re looking for a better way to complete and file your taxes, trust the accounting specialists at Faris CPA. Our licensed accountants offer premier accounting services in Toronto and across the GTA.

We work with clients across a wide range of industries, ranging from importing and distribution to local and national non-profit organizations.

Contact us today to get started.

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.

Save your time and money and hire Sam Faris for any problem with the CRA. He is the man to fight the CRA and get you the best results. His firm a top consulting firm I have ever dealt with. He is honest, trustworthy and very professional on both personal and business levels. He won my case against the CRA and the audit went through very smoothly because of his top notch service and expertise. I wish I met Sam before. I paid other professionals but they were disappointing and did not deliver what Sam delivered.
Many thanks Sam and I will definitely refer my clients and family to him.
Response from the owner:Thank you for the five stars Google review and your kind words. We strive to provide the best customer service and to ensure that our clients feel that they are in a safe hands while we are working on their files. We understand that CRA audits are not a pleasant experience to have and we do our best to provide strong arguments to dispute CRA’s decisions and protect our clients’ best interests. Thanks you again and we will remain at your disposal if you need our service in the future.
I was referred to Sam Faris by a tax lawyer to handle my a complicated tax audit by the CRA and to refile all my outstanding corporate and personal tax returns. He was highly recommended by the tax lawyer and by other professional. The minute I hired Sam to sort out the big mess that I had with the CRA, I felt I am safe and in a good hands. He and his team were responsive to my questions and my concerns. Once he completed his work, he insisted to meet in person with the auditor and the team leader. His work quality was second to none. He backed up all accounts prepared a perfect reconciliation. On that basis, he presented his work confidentially and was able to convince the CRA team with his position and his calculations. I must admit that Sam Faris is the best tax consultant and he is a life saver. As a side note, his fee is very reasonable considering to other professionals and more importantly the work quality and the results that he achieved are unbeatable.
Response from the owner:Many thanks Moss for the positive review.
I was referred to Mr. faris by a friend of mine who happened to be his client for more than 10 years. I was struggling with the CRA reading HST and income tax audit. CRA claimed that I owe significant amount of HST and income tax. Mr. Faris was able to perform a detailed analysis which was backed up with previous court cases. As a result of his sophisticated work, he was able to convince CRA that the property was not subject to HST and income tax and the case was closed with zero hst owing. Thank you Mr. Faris for all your hard work.
Sam and his team are an amazing tax consulting firm. They know how the CRA operates and are able to get results based on your actual numbers, not the inflated CRA ones. More importantly, they are super professional and more cost-effective than I would've thought. The Faris team really are life-savers!
Response from the owner:Dear Aymann Your feedback is much appreciated. We have been in business many years now. We have dealt with countless and different types of CRA audits. We noticed that the CRA always attempt to assess on inflated numbers. We have been successful to reduce the CRA numbers and to prove to the CRA their numbers are inflated. As result, CRA would accept our numbers as our work is perfectly reconciled and backed up with the appropriate documents.
I found Sam online and I was I impressed with the excellent reputation and all the good results that he achieved to his clients. I decided to hire him to handle a complex matter with the CRA. With no surprises, Sam performed the work on timely manner and in the most efficient way possible. He kept his promises and he saved me significant amount CRA claimed that I owed. Sam was very transparent while working on my file and kept me in the loop. If you are looking for an excellent and expert tax consultant, Sam is the man. You will never be disappointed.
Response from the owner:My pleasure and thank you for the positive review.
Faris CPA has helped me to go through a very difficult time in my life while the CRA was after me and my family claiming that we have significant amount of unreported income. Sam and his team took over the file and dealt with it in the most efficient and effective way. They provided every single reconciliation and backup to show that the CRA assumptions are baseless. They were able to stop the escalation based on their sophisticated strategy and I am so grateful for them.
Sam and his team are expert and solid tax consultants who can fight CRA audits confidentiality and aggressively. They are the sharks and the best in the country to do so.
Response from the owner:Omar Your review and kind words are much appreciated. We are glad that you are happy with our performance and the outcome of the audit. we will remain at your disposal if you need our service in the future.
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.
Response from the owner:Raj Thank you for the positive Google review. We are happy that you are satisfied with our services. Voluntary disclosure program is one of our specialties and we have dealt with many complex cases too. We get referrals from other professionals as we have been in the business of fighting CRA many years and we have countless success stories that many professionals are aware of. Please do contact us if you require further help in the future.
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.
Response from the owner:Yash Thank you for the positive feedback and the 5 stars Google review. We are glad that you are happy with our service and you are satisfied with the outcome. Net worth audits are very complicated and disputing them might get very tricky. We have been dealing with the same types of audits for many years and we are confident in fighting CRA and to point out mistakes that the auditor have made while performing the audit. We will remain at your disposal anytime you contact us in the future.