We are in the middle of tax season and we are all facing the annual moral dilemma: “Will I cheat on my taxes or not?” Not those “big” cheats that lead to media scandals and CEOs, CFOs and accountants ending up in jail, but the “little” ones such as the “business” trip to the Caribbean during the worst of the Canadian winter, or… including tips when you calculate the GST/HST portion of your business meals or… adding the cost of health supplements or cosmetic surgery to your medical expenses or… “forgetting” to declare your tips as income.
Will the CRA catch it? Unlikely. Will your accountant “wrap you on your knuckles”? Sometimes. Do random audits happen? Yes. Is it right? No. Can you live with your self knowing you cheated?
So, if your answer to the last question is “yes”, will you also complain about the long wait times for elective surgery or the number of potholes after the brutal winter we have just experienced or the lack of public transportation in some areas? Think about it! That’s what our taxes are for.
At Black Tulip we will err on the side of caution. We will apply the tax rules as best as we understand them. Our Controller is so “straight laced”, we use him as a ruler. But in the end, we work for you, our client. You have the final say and we will do what you tell us to do. But, we will get it in writing, just to cover our behind!
Happy Tax Season!