Mark Feldstein & Associates Tax Accounting Blog

Shareholder Appropriation

if you are the shareholder of more than one corporation in Ontario, or across Canada for that matter you want to watch this video blog. Mark Feldstein discusses the Canada Revenue Agency and shareholder…

The Possible Impacts of the New Harmonized Sales Tax (HST)

Mark Feldstein discusses possible ways that the new Harmonized Sales Tax (HST) will impact the way that the Canada Revenue Agency (CRA) pursue unpaid taxes.

Charitable Donation Fraud

I thought it was important to focus on discussing charitable donations as this week’s tax topic. The government is cracking down on individuals who have declared charitable donations from unauthorized charities on their tax returns.

You see, the Canada Revenue Agency publishes a list of authorized charities on their website and if you have claimed a donation to a charity that is not on t…

Missed the April 30th CRA Tax Deadline?

I can’t say I was surprised when the CTV in British Columbia recently reported that Toronto has topped the list as Canada’s tardiest tax filing city in 2007, 2008 and again in 2009.

The reason this didn’t come as a surprise to me is because my firms focus is to work with taxpayers who have these types of problems. Being located in the GTA I see this more and more. So many individuals and…

Behind Filing Tax Returns?

Have You Earned Income You Didnt Declare On Your Tax Returns?

Is yours a CASH business?

No problem, but if so, there are some important things you need to know. Cash payments must be reported on your annual income tax return. They are also subject to GST/HST. Failure to report cash payments is tax evasion.

For example, if you fail to report all income earned, cash or otherwise, fail to report and remit GST/HST, fail to file T5018 returns for sub-contractors, file as self-employed…

$16,000 in fines to London realtor not filing tax returns

William Joseph McCarvell, a real estate agent in London, was fined a total of $16,000 after pleading guilty to 16 charges of failing to file personal and corporate tax returns by the required due dates.

McCarvell operated under the name Bill McCarvell Realty Inc. In June 2009, he was fined $8,000 for not filing his 2003 to 2006 personal income tax returns, as well as the 2001 to 2004 corporat…

Brampton resident fined $2000 for not filing tax returns

Robert Sproats, of Brampton, pled guilty in October 2009 to two counts of failing to file tax returns. He was fined $2,000. A Canada Revenue Agency (CRA) investigation showed that Sproats failed to file his 2007 personal income tax return and as Director of Deborah Thomson School of Dance & Fitness Inc., failed to file the company’s 2007 corporate tax return.

Anyone who does not file a…

Niagara Falls man fined $7000 for failing to file tax returns

Joseph Cirillo, of Niagara Falls, pled guilty in October 2009 to seven counts of failing to file corporate income tax returns. He was fined $1,000 for each count. A CRA investigation showed that Cirillo failed to file corporate tax returns as the director of Done-Rite Paving Co Ltd and as the director of 1602013 Ontario Inc.

When individuals or corporations are convicted of failing to file tax…

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