TurnerMoore LLP

TurnerMooreLLP are Ontario based accountants who provide business accounting services including tax, financial reporting, auditing & advisory services.

[TurnerMoore LLP @TurnerMoore_LLP]

Concerned about missing tax filing deadlines? We can help. Visit our events calendar and never be late. https://t.co/FnQVe7ZiHA

[TurnerMoore LLP @TurnerMoore_LLP]

Building your own rental property? Are you aware of the self-supply rules in regards to the HST? If not, you could be in for a surprise.

[TurnerMoore LLP @TurnerMoore_LLP]

Make sure the info in your tax filings match the info from 3rd parties (employers, banks, or others e.g. land registry) #AuditFlags

[TurnerMoore LLP @TurnerMoore_LLP]

When you get a request for information from the Canada Revenue Agency, it is very important that you answer promptly. #AuditFlags

[TurnerMoore LLP @TurnerMoore_LLP]

If you have little or no rental income or even rental losses for a number of years, the CRA may have questions for you. #AuditFlags

[TurnerMoore LLP @TurnerMoore_LLP]

Do you own a business in the restaurant industry? Make sure you are properly treating and reporting tips and gratuities to your employees

[TurnerMoore LLP @TurnerMoore_LLP]

During an audit, if the CRA cannot confirm your income, it may perform a Net Worth Assessment that may overstate your income/tax liability.

[TurnerMoore LLP @TurnerMoore_LLP]

Using ratio analysis, significant diff. between your tax position vs other similar taxpayers or private corporations could be an #AuditFlag

[TurnerMoore LLP @TurnerMoore_LLP]

Please have a look at our selection of our online financial tools. https://t.co/iZpDwrwVQe

[TurnerMoore LLP @TurnerMoore_LLP]

Purchasing a newly constructed property to be used for rental purposes? Contact us to apply for a rebate on the HST. https://t.co/UAvv7vclvq

[TurnerMoore LLP @TurnerMoore_LLP]

Investments in small business corps that have become insolvent can be deducted on your personal tax return as a business investment loss

[TurnerMoore LLP @TurnerMoore_LLP]

Making a request to amend or change your tax return or GST/HST return may attract the attention of the CRA. #AuditFlags

[TurnerMoore LLP @TurnerMoore_LLP]

Thinking of selling your business? Make sure you discuss with one of our partners the potential tax implications https://t.co/avu8Qx5Mq9

[TurnerMoore LLP @TurnerMoore_LLP]

Businesses run most efficiently and w/ the highest profitability when mgnt has accurate, complete and timely info. https://t.co/9P9gh1UPuv

[TurnerMoore LLP @TurnerMoore_LLP]

The CRA will aggressively go after businesses who don't remit their payroll deductions or the GST/HST. #AuditFlags

[TurnerMoore LLP @TurnerMoore_LLP]

“Timely advice from a tax expert can save you money and reduce your stress” https://t.co/iWzPUOjJPY

[TurnerMoore LLP @TurnerMoore_LLP]

If your company has inventory at year-end and the value has declined below its cost, deduct the loss immediately. https://t.co/eDM8pBDWad

[TurnerMoore LLP @TurnerMoore_LLP]

If you have significant changes to deductions and/or credits, the CRA may want more information. #AuditFlags

[TurnerMoore LLP @TurnerMoore_LLP]

Are you use your company vehicle for personal KMs? If so, you may need to calculate a taxable benefit and add to your 2016 income.

[TurnerMoore LLP @TurnerMoore_LLP]

Make sure the info in your tax filings match the info from 3rd parties (employers, banks, or others e.g. land registry) #AuditFlags