As a business owner, you work hard to grow your business. The work of an entrepeneur is never done! Taxes and paperwork piled upon our already busy lives can be too much to maintain. Let us focus on the books & taxes so you can focus on growing your business.

The steps to getting back on track are:

Firstly, bring your records together and estimate your taxes owing. Payroll withholding funds and HST are the personal responsibility of owners and directors. Don’t wait for the assessment to come or the auditor to call.

Secondly, use a program like the CRAs Voluntary Disclosure program where penalties and interest can be reduced. You don’t need a lawyer to participate in this program.

More info can be found at: http://www.cra-arc.gc.ca/gncy/nvstgtns/vdp-eng.html

Thirdly, provide a complete and accurate disclosure to avoid penalties. The key is clean and accurate books & records.

Lastly, tax avoidance is perfectly legal. Every taxpayer has the right to arrange their affairs to minimize tax. Tax evasion is illegal and is the act of hiding income or taxes to defraud the government usually after the fact. Talk to accountant and your alternatives and choose the one that’s best for you.

We would be pleased to discuss all of your alternatives and help you get back in the black. Click on the attached link or contact tab above. Someone will contact you shortly to set up an appointment at your convenience.

http://www.summitcma.ca/contact/