If you’re finding yourself in debt with the CRA, you’re not alone. This type of debt is often unforeseen and can be a heavy burden. The following are some of the things that may result in CRA income tax debt:
- A re-assessment of a prior year tax return
- A self-employed individual who received a larger tax assessment than is anticipated
- The inability to make the required income tax installments
- An unsuccessful appeal resulting in a larger tax debt than expected
- disallowance of expenses claimed by a self employed individual
In many cases, an offer can be made to the Canada Revenue Agency. Making an offer helps you to avoid bankruptcy and lets the CRA know your plans (in detail) to pay back your debt. An offer made by a licensed Proposal Trustee, such as Albert Gelman Inc. is taken more seriously and objectively than one that is proposed by a consumer. The Trustees at Albert Gelman Inc. have experience with these types of negotiations and will work hard to help you get out of debt and be in control of your finances again. With our three step process, you know you’re getting the best service around:
Step one: Free consultation
When you come to Albert Gelman Inc., we’ll give you a 100% free consultation with no obligations. This consultation takes about an hour, and entails one of our certified professionals reviewing your situation along with your income, debt, assets, credit standing and more. Having a professional review your finances means that you’ll get the best advice possible, and it will be tailored specifically to you and your situation.
Step two: Propose solutions
After we review all the facts surrounding your circumstances, we’ll make suggestions and recommendations based on our findings. Our team will help you choose the best option for you and your financial circumstances.
Step three: See your plan through
Once we’ve determined the action plan best suited for you, we’ll work with you to implement it. Being here for you every step of the way is our guarantee. Should you have any questions at all during the process, don’t hesitate to ask!
We don’t stop here, even after your plan is put to work, we’ll be available to you right until the end, whether it’s five months or five years!
If you have CRA income tax debt, don’t wait any longer. Albert Gelman Inc. can provide you with the solutions you need to get your finances back on track. Find a location that works for you or call us today at 416-504-1650.