04/09/2026
Attention Restaurants & Construction in Mississauga! π§ π½οΈ
Is your business ready for a potential CRA audit in 2026? π€ Swift Tax & Financial is here to help you stay compliant!
Here are the Top 5 CRA Audit Triggers to Avoid:
1. **Unsubstantiated Expenses:** Keep detailed records! Vague or missing receipts raise red flags. π©
2. **Large Cash Transactions:** Ensure all cash income is accurately reported. Discrepancies are easily detected.
3. **Inconsistent Gross Profit Margins:** Industry benchmarks are key. Fluctuations can trigger scrutiny.
4. **Personal Expenses Claimed as Business Expenses:** Keep business and personal finances separate! This is a major audit trigger.
5. **HST/GST Filing Errors:** Incorrect calculations or late filings can flag your business for review.
Don't wait until it's too late! β°
Contact Swift Tax & Financial today for expert guidance and audit protection. Let us help your Mississauga restaurant or construction business thrive while staying CRA-compliant! β‘οΈ swifttaxca at gmail.com