Last week, Tax Solutions Canada’s Director, James Bell, spoke with the Globe and Mail’s Kira Virmond and offered some advice to small business owners with the tax deadline right around the corner. Even if all receipts are in line and amounts line up, this can be a complicated and stressful time of year.
His advice? If you owe money, don’t think not filing is the answer. “‘Owing money to the CRA is not a criminal offence, but not filing a return is,’ he cautions. Not only will filing on time keep you on the right side of the law, but you’ll avoid onerous interest and late fees.”
Check out the full article here: http://www.theglobeandmail.com/report-on-business/small-business/sb-tools/tax-facts-you-really-need-to-know/article24366786/.
If you know that, after the paperwork has been filed, a refund is highly unlikely and instead you’ll be facing an amount owing at the bottom of that assessment, contact James and his team at Tax Solutions Canada today. They can help review your options and get things straightened out. Call 1.888.868.1400.