Question - Accountant
What kind of accountant calculates the spa owners taxes ? Inquiring mind .
massageplanet.net
Like it or not, if you are employed and on pay roll , you will get bent over every year.
There is no way you can track down every cash transaction businesses like spas, hair salons, restaurants, small construction companies ,small contractors, small paving companies and such. I do know of some bigger spas with lots of credit card transactions show over 2-300 thousands a yr income and they have been in the business for so many years. Most accountants know what to hold and what to show. Small spas are too small of a fish for the government to be bothered. Every business doing lots of cash transactions will always cheat no matter what business it is. Even our ex PM Brian Mulroney tried to hide $300K cash , why can't the small businesses?
He may be unaware of possible serious consequenses.
Tax evasion, understanding the consequences - Canada.ca
Learn about tax evasion and fraud, the Canada Revenue Agency's efforts to combat these crimes, and the severe consequences under Canadian law, including fines and jail terms.
www.canada.ca
What is tax evasion and tax fraud:
- falsifying records and claims
- purposely not reporting income
- inflating expenses
- claiming a fraudulent refund or benefit
Tax evasion is an offence under section 239 of the Income Tax Act and section 327 of the Excise Tax Act."
"
Consequences of committing a financial crime
100% court conviction rate$10.7M court-imposed fines
25 ongoing joint forces operations with law enforcement
Results as of March 31, 2023 (fiscal year 2022-2023)
Whether youโre cheating on your taxes, or hiding assets or money in foreign jurisdictions, the consequences are serious.
When convicted of tax evasion:
- you must still pay the full amount of taxes owing, plus interest and any civil penalties assessed by the CRA
- you may be fined up to 200% of the taxes evaded
- you may be imposed a jail term of up to five years
Being convicted of tax fraud carries a sentence of up to 14 years in prison.
Other consequences include fingerprinting and foreign-travel restrictions."
Sure, they don't catch EVERYBODY. However, those who openly brag about tax evasion, and counsel others to commit tax fraud are more likely to be investigated.
And those who associate with people like KRAYJEE, who counsel others to commit tax fraud, are obviously more likely to ge investigated.