For some of us, our tax situation is relatively straightforward. Your income is entirely wage-based and you don’t own any property except your home. For others, tax obligations are more complicated: you may own a business or multiple properties, be the recent recipient of an inheritance, or already owe a significant amount to the Canada Revenue Agency in back taxes.
If any of these situations apply to you, a tax lawyer in Kitchener, Ontario, can help you achieve optimal results.
You’re Facing a CRA Audit
If you’ve received notification that the CRA wants to audit you or your Ontario business, you should hire a tax lawyer as soon as possible. An experienced tax law professional can help you review and prepare all necessary records and even communicate with the CRA on your behalf.
You’re Buying a Business
Business taxes are on a whole different level than individual taxes. A tax lawyer can ensure that all transactions, from sales to payroll, take place with the appropriate types and amounts of tax added or deducted.
You’re Leaving Money To Someone
If you intend to leave a large sum of money to a loved one, a tax lawyer can help you plan accordingly, so that your heir doesn’t end up dealing with unexpected difficulties from the CRA.
You Owe Back Taxes
Owing back taxes can be a stressful and complicated situation, even if you made a genuine mistake and weren’t trying to evade your tax liability. Working with a tax lawyer, you may be able to reach a sustainable repayment arrangement with the CRA.
You Want To Make a Voluntary Disclosure
The Voluntary Disclosure Program is a program set up by the CRA to allow taxpayers to voluntarily disclose and correct errors in previous tax filings. In many cases, you can have all applicable interest reduced and penalties waived. A tax lawyer can confirm your eligibility for the program and help you present your case.
At Ichim Law, we understand how complicated and frustrating tax issues can be, and will provide advice and representation that you can trust. Our goal is to help you resolve any issues with the CRA before they become major financial challenges. For more information or to schedule a consultation, call 519-772-7626.