TAX AUDITS

CRA Review: 

If you receive a letter from the Canada Revenue Agency (CRA) telling you that your income tax return is being reviewed, don’t panic – instead CALL QZee Business & Services immediately for a consultation appointment. These reviews help confirm that income amounts, deductions, and credits are reported correctly, and can be properly supported. We can help and guide you to streamline your business processes to pass a review with flying colors. However, a review can lead to an audit if it is not managed properly.

CRA Audit:

Whether you’ve received notification of a pending audit or would like to ensure your books are in good order, our audit preparation service provides peace of mind. We are experienced with what auditors are looking for and provide an informative review of your bookkeeping records and possible points of improvement. 

An audit can be a tedious process requiring full cooperation with and transparency to the CRA. During an audit, the CRA closely examines the books and records of a taxpayer to confirm whether they are fulfilling their tax obligations, following tax laws correctly, and receiving the benefits and refunds to which they are entitled. CALL QZee Business & Services immediately for a consultation appointment if you are contacted by a CRA auditor by mail or phone to start the audit process. 

An auditor will examine books and records, documents, and information (collectively referred to as records). These include the following:

• information available to the CRA (such as filed tax returns, credit history, and property details)
• your business records (such as ledgers, journals, invoices, receipts, contracts, rental records, and bank statements)
• your personal records (such as bank statements, mortgage documents, and credit card statements)
• the personal or business records of other individuals or entities not being audited (for example, a spouse or common-law partner, family members, corporations, partnerships, or a trust [settlor, beneficiary, and trustee])
• adjustments made by your bookkeeper or accountant 

QZee will help you navigate through this process and act as your representative in dealing with the CRA. We offer comprehensive bookkeeping services to keep your financial records organized and up-to-date. Our team of experts will work with you to ensure your books are in order, allowing you to focus on running your business.

Don’t let yourself become overwhelmed. Put our experience to work for you.