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outstanding tax

How to resolve a surprised tax bill

on Tue, 09/06/2011 - 11:25

I finally decided I would put clients' cases on my blog, so that you (readers, if there is any) will have an idea how I work with my clients.

So... here is the first case:

Slightly after the new year, I received a call from a clinet who had been working with me for a good 2, 3 years, that he got audited by the CRA, and that he got a surprised tax bill of over $10K. He told me he immediately withdrew $5k from his RRSP and he was looking into getting a personal loan from a bank so that he can pay off the tax man immediately.

This is a very normal move to a lot of people, is that, they will