Facing a CRA Review Letter? How to Protect Your Deductions

Facing a CRA Review Letter? How to Protect Your Deductions Understanding the Post-Assessment Audit Wave Why You Received a Letter After Filing First, many taxpayers believe that receiving a Notice of Assessment means their tax return is permanently finalized. However, the Canada Revenue Agency routinely conducts massive post-assessment screening campaigns throughout the summer months. During […]

Personal Services Business: CRA PSB Rules Explained

Personal Services Business (PSB) article banner from Ricky Chawla CPA, showing a magnifying glass examining a tax document, representing CRA review of incorporated contractors.

Personal Services Business (PSB): What It Is, Why the CRA Is Watching, and How to Protect Your Corporation You incorporated to keep more of what you earn. But if the Canada Revenue Agency decides your corporation is a Personal Services Business, that decision can be reversed almost overnight — and the back taxes, interest, and […]