Alberta Are you late with your personal, small business, corporate income tax, or GST/HST returns filing?

Even if you are years behind on your back taxes or have not filed any taxes in years, your tax situation may not be as dire as you believe it to be at this point.
For a reasonable and affordable fee, we bring you (and/or your business) up to date on your late tax filings and assist you in avoiding or reducing personal and/or corporate tax penalties and interest by keeping your tax debt as low as possible. Numerous clients have benefited from our staff’s expertise, which includes which includes many individuals who have been with us for many years.

What it Is and How it Works

The professional tax Accountants at Bomas Alberta Canada Accounting and Tax Services can offer you a confidential, non-obligatory and non-judgmental telephone consultation about your particular taxation situation. You will get a comprehensive understanding of how taxes function, which options will benefit you best and if so, when you opt to participate in the Voluntary Disclosure Program (VDP) (a program which allows late tax filers who meet specific conditions to apply to have penalties and interest reduced or waived when in the process of becoming compliant). Should you wish, we can discuss the particulars of any contact with you and answer any questions you may have. Please contact us.

Do you have any missing documents and/or tax slips?

There’s nothing to worry about. A portion of our service includes assisting you in determining which documents are truly required, as well as assisting you in gathering and easily organizing the information. Everything from various bookkeeping programs and spreadsheets to shoe boxes full of receipts is acceptable as documentation. QuickBooks Desktop and QuickBooks Online are all programs that we use depending on your requirements.

We can assist you in calculating your tax liability.

When you have a clear perspective, it becomes easier to see your options. As a first step in determining how much back taxes you may owe, as well as the implications of failing to file required returns, it goes without saying that you must first determine how much back taxes you may owe.

1. Preparation is key. Have all of your information together, as well as any unfiled draught returns from previous tax seasons completed for the years you need to file in advance.
2. If there is a violation, figure out how much in penalties and interest you may be liable for.
3. Taking into consideration all legitimate options for lowering the tax is essential.
4. Remember to take into consideration your current or potential relationship with the CRA. In particular, if you are considering voluntarily disclosing your information, you should be cautious.

Allow us to take care of your tax and accounting needs.

We have found that the vast majority of outcomes can be effectively controlled based on our previous experience. By managing, you can gain control of your situation – or have someone else take control for you. There are many occasions when making sacrifices is necessary. Control consists of the following elements:

1. Creating a prioritized list of tasks
2. Communication with the CRA should be on-going, deliberate, and considered.
3. Making a determination about and taking action on potential filing positions
4. Submissions for Voluntary Disclosure are currently being accepted (if eligible)
5. Taking care of any scheduling conflicts
6. Keeping costs as low as possible is important.
7. Taking into account the ramifications for those who are close to you is essential (surprises abound)