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Tax Payers And Businesses Can Now Protect Themselves From Unexpected Professional Fees Via Audit Shield
With new data-matching capabilities that the government has in its arsenal, government agencies such as the Canadian Revenue Agency (CRA) can easily access tax payers and audit their taxes easily. The technology allows CRA to select and audit any person, even if they are law-abiding, compliant, and have never had any problem with the law. This isn’t much of an issue if they are filing their taxes correctly, but one downside is that there are cases when taxpayers have to shoulder some professional fees incurred because of enquiries and investigations.
How can tax payers protect themselves from these unexpected fees?
What actually happens is that once the government requests to review a previous tax filing, for example, some companies have to charge a professional fee to respond to the request and allow the enquiry. Customers would then be surprised that they suddenly have to pay for this even if they haven’t done anything at all.
To help customers avoid these unexpected fees, some companies are starting to offer Audit Shield. This program protects clients from these audits. If a client is enrolled in the Audit Shield program, the companies waive their fees for the enquiry, including employer compliance and payroll audits, corporate tax and business audits, Work Safe BC worker’s compensation employer audit programs, and personal tax post-assessment programs for the clients and their immediate family members.
Eligibility and Payment
Eligible clients are given invitation to join the program with the details and different options. Audit Shield would only require an annual fee to cover professional fees for audits, reviews, investigations, and enquiries.
Businesses are not safe from these surprise enquiries either, and just like with other taxpayers, they may have to shoulder the professional fee that is needed to respond to the government agency’s request. Likewise, they can also ask their service providers for Audit Shield to receive the same protection that other tax payers can enjoy.
The government may sometimes ask for documentation to show how a business was able to reach a certain amount of money, or in businesses where fast cash transactions are involved such as in the hospitality sector. Similarly, companies with long-term projects such as construction may also need to submit certain documents because projects often span a number of tax years.
With all the competition in the insurance industry, agents are always looking for way on how to get insurance leads that they can work on and have them converted into closed deals or sales. There are two ways to get leads. One is to buy these leads and another is to generate them by yourself. To expound on these ideas, take a look at this.
Generate your own leads
If you have all the time and you want to invest less, you have the option to generate leads through a number of ways. One is to request for referrals from your current clients for you to be referred to their friends and family. You can also participate in networking groups with members who are professional industry and can very well lead you to potential clients that you can tap. There are networking groups that meet once or twice every month for sharing of ideas and strategies and this can be an enriching experience for you.
Another way on how to get insurance leads is by sponsoring an event or even hold a seminar workshop where interesting topics will be discussed such as how to manage financial resources, how to avoid debts, how to lower taxes for small businesses or enterprise and other related topics. Avoid presenting your insurance policies as this would turn your prospects off. You can refer to the attendance sheet later on to further discuss your ideas over the phone or in person.
Buy leads from companies
Perhaps the most effective and hassle-free way of getting leads is by buying them from a marketing company that offers leads to insurance agents. This way, you can focus on dealing with your prospects since you won’t have to worry about how to get insurance leads as they will be supplied to you by the company. The providing company will ask for your zip or postal code and will find leads for you within the area. They will verify the leads using modern and effective tools before sending the leads to you via email.