Tax Review Services: No Tax Recovery, You Don’t Pay 1 Dollar

October 23, 2023 Andrew AdolphAudits

Imagine being able to run your business without having to deal with sales taxes. Wouldn’t it be nice to be able to see your financial results without the noise and distortions that sales taxes add to your general ledger and subtract from your bottom line? You recognize that some sales taxes you can claim back (GST) and some you can’t (PST).

With my tax review services, those problems become a distant memory.

Sales Tax Recovery Services: A Strategic Advantage

When I was a GST auditor at the Canada Revenue Agency (CRA), they gave us a tool we used to find transactions where GST was not charged but should have been. It also expenses and input tax credits to look for errors or where expenses were not supported by proper records.

I was able to find tax to assess by lunchtime using this software. I remember how finding the assessment took less than half a day, and then writing up the audit took about a week and a half.

I don’t work for CRA anymore but I still use the same software, made by Caseware International. Only this time, I use it to comb in the opposite direction to find transactions where there was an input tax credit not claimed, or only partially claimed.

You Can Claim Back Up to Four Years

Today’s accounting systems save a lot of time, but when errors are made, they can add up without you knowing. Accounting staff might know to claim GST if it shows up on an invoice, but what if it doesn’t? What if the current payables person does it properly, but the person before didn’t, or vice-versa?

Using my experience as a CRA auditor and as a specialist in tax review services, we can dig deep into your past transactions, identifying instances of overpayment and initiating the process of recovery. This isn’t just about correcting past errors; it’s about setting the stage for future success. We really are experts and you can ask us anything about sales taxes.

My Services Are Free If I Don’t Find Any Recoveries!

With our tax review services and tax recovery services, we operate strictly on a ‘no recovery, no fee’ basis. This means that if we don’t find any recoveries, our service is absolutely free. We bear all the risk, so you have nothing to lose. Our goal is to ensure that your business is not paying a cent more in taxes than it needs to, and if we can’t deliver on that promise, you won’t owe us anything. It’s as simple as that.

GST/HST Refund Experts: Maximizing Your Refunds

Did you know if you pay PST on an item that you later remove from the province, you can get the PST back? Or if you pay a duty on something that you import to work on and then export it, you can recover the duty you paid on importation? These things all cause distortions to what it actually costs to convert your assets into revenue, which is the basis of all business.

Overpaid tax recovery is not just about crunching numbers; it’s about providing an expert assessment of your accounting system’s effectiveness at wringing everything it can from the invoices you pay.

Historical Accounting Data Review: Unearth Hidden Opportunities

Your year-end CPA prepares financial statements based on the information you give them. They will most likely reconcile the GST account, but they don’t do a review of how efficiently the accounting system captures sales taxes paid. If you were using the wrong rates, the accountant would not likely catch it. They don’t analyze expenses to see if the sales taxes are getting separated properly, but this is what CRA auditors do, and it’s what I do with my tax review services; only I comb in the opposite direction!

Tax Compliance Auditing: Ensuring Peace Of Mind

Tax compliance auditing is about more than just ticking boxes. When it comes to our tax review services, It’s more about ensuring your business is compliant with all tax laws, thereby mitigating risks and fostering peace of mind. If you like, as an add-on service, we can review your accounting system to make sure your sales tax accounting is working at peak efficiency.

Summing Up Our Tax Review Services

In summary, our tax review services, GST/HST refund expertise, overpaid tax recovery strategies, historical accounting data review, and tax compliance auditing can unlock significant savings for your business. As your trusted partner in tax compliance and auditing, we’re committed to delivering results that go beyond numbers. Reach out to us today, and let’s start unlocking your tax recovery potential.

For additional tax-related questions check out the official CRA website or browse my blog for an in-depth look at my tax review services.

Andrew Adolph

Andrew Adolph is a CPA and former CRA auditor with 25 Years of experience. He helps businesses to not par any more in sales taxs than the law says they must and acts as an advocate for you if you are being audited, so you can fous on your business.