In effort to provide you, the reader, with the truth about your tax arrears and dealings with the Canada Revenue Agency, it would be a disservice if I did not provide information about companies who can help in addition to companies who can harm.
Companies who can harm you want to be paid a lot of money, right away. They won’t tell you what they’re going to do, or how they are going to do it. They won’t give you a progress update, and they’ll advise you to NOT contact the CRA for fear of “screwing up their work.”
Who operates like that?
Companies that operate like this are usually fronts for trustees and when you balk at paying, say, $5000.00 for their services, assume that you are broke and send you to their other business, the trustee, so that they can save you by having you file a Consumer Proposal, not a Bankrutcy.
Same shit, different pile.
In both cases, you’re trading a tax debt that you can deal with, for really bad credit.
But they get paid, and you… Well, you’re a statistic.
That approach does not sit well with me. Never has. Never will.
What works for me is looking at a tax debt / problem from every possible angle, and consider all approaches. Then, having that conversation with you so that we can resolve it together and to your benefit.
Some debts can be resolved through re-financing. I don’t do that. I do, however, work with a couple of mortgage brokers who take care of that service. They provide low interest rates, and can work with liens on properties. Why can they do this but other firms cannot? It’s because when a group of like-minded businesses work together and share their expertise around the CRA, it is the customer who wins!
Other tax debts can be resolved through a filing, or re-filing of tax returns. Again, I do not do that, but I work with a couple of accountants who take care of that for you.
I don’t recommend bankruptcy or consumer proposals right away, however should the situation really warrant one, then I have a couple of firms that I could recommend.
In the process of helping someone with their tax matters, I always look at it in depth so that I can suggest the best plan of action for resolving it, and then let the Taxpayer decide the path they want to take. I don’t tell them what to do. I suggest the options, and provide the steps for them to take in each scenario. If they need my assistance, I’m here to help. If, not, then I’m a shoulder to cry on, or a person who listens.
Recently, a firm called Personal Banker came onto my radar. I met with the owners and absolutely love what they do and how they do it. They, like myself and my network, put the interests of the Taxpayer first and foremost and provide a service far more valuable that one could imagine.
Again, that’s my opinion.
What I like about Personal Banker is that they perform a function which I strongly recommend in the majority of the tax debt cases, and that is to have their previous 10-years worth of tax returns reviewed to ensure that all the eligible credits have been taken.
This is the best way to reduce a tax debt! If there are missing credits, that you are entitled to and were missed for whatever reason, you have 10-years to apply them and either increase a refund or reduce a balance owing to the CRA. The experts at Personal Banker apply the credits, for a percentage of the findings, and you can either apply them to your tax debt, or take the money and run.
It’s what I recommend to people with tax debts, whether personal, or business. Everyone can use a bit extra money, and especially if it’s available to you, and you just didn’t know.
What’s more brilliant is that this company operates Canada-wide, and are growing on a daily basis.
Don’t believe me? Check it out.
If you think that there might be tax credits that you have not claimed, visit their website, sign up and let them do the rest.
If you have not filed your personal tax returns, they can take care of that for you for a ridiculous low rate (I told them they are way too low, so take advantage now).
If you’ve used them before, I’d love to hear your feedback in the comments.