- Email Us : info@leonardtam.com
- Call Us: (437) 500-6494
Let Us Help you Deal With CRA
Leonard Tam Professional Corp. has been advising businesses and individuals in the Toronto area since 1990. As Toronto small business accountants, we will help you without attitude, judgement or guilt.
We are proud to have worked with some of the leading companies across industries. Our clients include large corporations, small businesses and non-profit organizations. We are proud to have helped our clients resolve their tax issues.
Our office was created on the premise of providing highly personalized professional tax preparation and accounting services while being a customer service oriented company.
There is a program with the Canada Revenue Agency that allows taxpayers to “come clean” and correct any omitted or incorrect tax information. In certain situations, you can avoid prosecution and interest and penalties.
It is possible to obtain monetary relief from penalties and interest related to your taxes. In s. 220(3.1) of the Income Tax Act, the Minister of National Revenue is given the ability to waive or cancel all or any portion of any penalty or interest that would otherwise be payable by the taxpayer.
Unfiled payroll remittances (Regulation 102) can cause serious back tax problems and be very costly to rectify. Employers are required to withhold and remit withholding taxes for each of their employees unless a waiver of withholding tax has been issued.
Need to adjust Your Tax Return? Missed something on your tax return? There is an avenue made available by the CRA to allow you to correct your tax return.
If the withholding requirements of Regulation 105 are not met, the employer is responsible for any monies not collected and it becomes a back tax issue for the employer.
GST and HST returns can be complicated. Given the business-specific fiscal years, varying reporting periods and dynamic due dates, late payments can occur. Interest and penalties can be severe.
Unfiled personal tax, corporate / business tax and HST/GST returns? Avoid possibly severe interest and penalties. We can help with your back taxes in a stress free enviroment and save.
Too busy for bookkeeping paperwork? CRA has a requirement to keep books and records. CRA can request that the taxpayer keep records for longer than six years. We can help you keep your books and records in order and minimise the business taxes you pay.
After all your tax returns have been filed, and CRA has stopped the tax garnishments, you will have to pay your back tax balance. CRA can be harsh at times; however, they do allow back tax payment plans.
If you have filed your tax return and have been assessed interest and penalties that are unfair, there may be some tax relief. CRA has the ability to waive or cancel back tax interest and back tax penalties in certain situations.
If you receive a notice of assessment and you disagree with the tax calculation, we can help you file a notice of objection. You will need to file the notice of objection by the later of 90 days from the notice of assessment or one year from the due date of the tax return.
There is a program with the Canada Revenue Agency that allows taxpayers to “come clean” and correct any omitted or incorrect tax information. In certain situations, you can avoid prosecution and interest and penalties.
It is possible to obtain monetary relief from penalties and interest related to your taxes. In s. 220(3.1) of the Income Tax Act, the Minister of National Revenue is given the ability to waive or cancel all or any portion of any penalty or interest that would otherwise be payable by the taxpayer.
Unfiled payroll remittances (Regulation 102) can cause serious back tax problems and be very costly to rectify. Employers are required to withhold and remit withholding taxes for each of their employees unless a waiver of withholding tax has been issued.
Need to adjust Your Tax Return? Missed something on your tax return? There is an avenue made available by the CRA to allow you to correct your tax return.
If the withholding requirements of Regulation 105 are not met, the employer is responsible for any monies not collected and it becomes a back tax issue for the employer.
GST and HST returns can be complicated. Given the business-specific fiscal years, varying reporting periods and dynamic due dates, late payments can occur. Interest and penalties can be severe.
Unfiled personal tax, corporate / business tax and HST/GST returns? Avoid possibly severe interest and penalties. We can help with your back taxes in a stress free enviroment and save.
Too busy for bookkeeping paperwork? CRA has a requirement to keep books and records. CRA can request that the taxpayer keep records for longer than six years. We can help you keep your books and records in order and minimise the business taxes you pay.
After all your tax returns have been filed, and CRA has stopped the tax garnishments, you will have to pay your back tax balance. CRA can be harsh at times; however, they do allow back tax payment plans.
If you have filed your tax return and have been assessed interest and penalties that are unfair, there may be some tax relief. CRA has the ability to waive or cancel back tax interest and back tax penalties in certain situations.
If you receive a notice of assessment and you disagree with the tax calculation, we can help you file a notice of objection. You will need to file the notice of objection by the later of 90 days from the notice of assessment or one year from the due date of the tax return.
All corporations, non-profit, tax exempt and inactive corporations, have to file a tax return EACH year even if there is no tax payable! It is a criminal offense not to file. A non-resident corporation has to file a T2 return if, at any time in the year, it carried on business in Canada, it had a taxable capital gain, or, in some cases, it disposed of taxable Canadian property.
Small businesses are more likely to get audited because they have discretion in income reporting and expense claims. We will help our clients with corporate tax audits to help them understand and exercise their right so that they only pay the taxes you owed, not all the ones CRA asks for.
Many Canadians don’t give much thought to how they can reduce their taxes. Most Canadians simply file their tax returns at year end and this is it. However, it is the tax planning throughout the year that saves you money. Waiting until April, when you are doing your tax return, is not advisable, it is too late to do effective tax planning because the year has past.
GST and HST returns can be complicated. Going through a GST/HST audit from the CRA can be incredibly stressful, time consuming, and can end up being very costly. We have years of experience helping companies navigate the CRA audit process.
Busy operating your business? Who has time for paperwork? Rather be operating your business and making money, right? Focus on your business and let us focus on your bookkeeping and tax accounting needs.
All corporations, non-profit, tax exempt and inactive corporations, have to file a tax return EACH year even if there is no tax payable! It is a criminal offense not to file. A non-resident corporation has to file a T2 return if, at any time in the year, it carried on business in Canada, it had a taxable capital gain, or, in some cases, it disposed of taxable Canadian property.
Small businesses are more likely to get audited because they have discretion in income reporting and expense claims. We will help our clients with corporate tax audits to help them understand and exercise their right so that they only pay the taxes you owed, not all the ones CRA asks for.
Many Canadians don’t give much thought to how they can reduce their taxes. Most Canadians simply file their tax returns at year end and this is it. However, it is the tax planning throughout the year that saves you money. Waiting until April, when you are doing your tax return, is not advisable, it is too late to do effective tax planning because the year has past.
GST and HST returns can be complicated. Going through a GST/HST audit from the CRA can be incredibly stressful, time consuming, and can end up being very costly. We have years of experience helping companies navigate the CRA audit process.
Busy operating your business? Who has time for paperwork? Rather be operating your business and making money, right? Focus on your business and let us focus on your bookkeeping and tax accounting needs.
We’re a group of dedicated Chartered Professional Accountants who can help put more of your hard earned money back in your pocket.
Practice Director & Tax Accountant
Office Assistant
From bookkeeping and tax preparation to financial planning and consulting, we have the expertise to help you reach your financial goals.
Our team of highly skilled and experienced accountants are dedicated to providing our clients with the best possible service.
We pride ourselves on providing personalized financial service that meets the unique needs of each client.
We are always up-to-date on the latest financial regulations. We are confident that we can make the best financial recommendations for you.
Authorize us to represent you in CRA
Personalized strategy development
We will work with you to develop a tailored strategy to handle the matters at hand, contact CRA if required to establish their immediate needs and concerns.
Prepare & submit the tax returns approved by you
When you know how to LAND CLIENTS consistently and get them coming to you, when you can DELIVER RESULTS for your clients in a way that you knock it out of the park for those clients without having to do all the work yourself, and RETAIN CLIENTS LONG TERM, you will have all the tools necessary to rapidly grow your digital marketing agency to be the business you dream of and deserve. All our material is designed to help you with those three elements, using cutting-edge proprietary strategies and tools.
Abugaber Canada Inc.
It all starts with you! Period. Your goals and objectives for you as a person, your family and employees.
Take the fear out of talking to the CRA. Have a dedicated representative between you and them.
Our work is a relationship based on continued dialogue. Communication is at the core of the process.
Why put a time clock on such important matters? No time sheets here and no surprises.
In the end, it is a partnership with you on your journey and a path towards peace of mind that we offer.
The world is moving – Fast. Regardless, we make the time to meet in-person.
We have the most dedicated individuals working together to deliver the best experience.
Much of what we do starts with listening, being there for you in times of need and being proactive.
You can easily book a meeting with Leonard or a member of our team using our online booking button. We offer in-person, Zoom, or phone consultations, all free of charge. Simply choose the option that best suits your needs.
Our pricing varies depending on the complexity and nature of your situation. After an initial consultation, we will provide you with a detailed quote tailored to your specific needs along with the scope of the work associated with this cost.
Yes, we provide comprehensive accounting support for small businesses, including bookkeeping, payroll management, and tax planning. Our services are customized to fit the unique requirements of your business. We also support small business in business consulting and assist our clients in any business questions or issues they are facing throughout the year. It is our policy that we do not charge for phone calls. This provides our clients an open access to Leonard. You are welcome to ask any questions that you feel need clarification in order to run your business effectively.
Absolutely. Our team has extensive experience dealing with the CRA and can assist with any tax-related issues, including audits, disputes, and compliance questions. We work diligently to ensure the best possible outcomes for our clients.
Let us take the burden of tax situation. Set up a free consultation with one of our professional accountants.
