One of the most stressful things that you could have to deal with is a CRA audit. There are many reasons that it can be so stressful but if you know what you are doing it does not have to be that bad. In fact if you have kept your books in order then you can easily avoid any CRA tax problem. The thing to remember is that you must follow all of the regulations and rules as expected so that you can easily produce the records that are requested from you. You only have to maintain these records, make sure that you have only deducted legitimate expenses, and that you claimed all of your income. |
If you are still nervous about an upcoming audit with the Canada Revenue Agency then you should think about using some of the following steps to help you to get through things with ease. The thing to remember is that each of these is an effective step and something that has worked for others.
The first thing to consider if you are suspected of having a CRA tax problem is to let your accountant work with the auditor. If you have an accountant available to you then you will find that it is important for you to actually have them deal with the auditor from the beginning until the end. This can even be done in their offices so that you do not have any contact with the auditor. It is a good idea to only have the auditor in your area when you have the accountant present.
Auditors are trained to fish for new information so it is really astounding to find out how much they can learn from simple questions that they are asking you as a part of the normal conversation. If you are talking to the auditor you should be careful as to what you say to them. Now if you do not have an accountant available to you then there are some things that you might still want to consider during a CRA audit.
One good tip is to collect all of the questions, think about the answers and answer them at the end of the day. Just tell the auditor that you do not have time to deal with these matters during your business hours and that you will have to give them until the end of the day to be able to answer them. Auditors hate working extra hours so staying late to talk to you means that they will be rushing and trying to cut everything short. This means that you are less likely to be asked any additional questions.
Just like you should try to make meetings at the end of the day, the best day of the week to make these meetings is Friday. It is a great idea to have your meeting scheduled for the end of the day and to be a few minutes late, apologizing for any problems that might have occurred. This too will keep things simple and easily understood.
It can be simple to get through a CRA Audit when you have Tax OS available to you. Plus you will find that they can help you with your CRA tax problem with ease.
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