Financial Services Review: Specials Magazine

Today’s income streams are evolving faster than our ability to keep up with tax laws. From viral content creators and online entrepreneurs to business owners and individuals with offshore assets, the way people earn money has changed— yet Canada’s tax system remains rooted in the past. Whether it’s years of unfiled returns, unreported or underreported income in Canada or offshore, or fear of Canada Revenue Agency (CRA) penalties, many individuals don’t recognize the risks until it’s too late. Amid the storm of audits, penalties, and uncertainty, Faris CPA offers calm, strategic guidance to bring clients back to solid ground. A trusted consultant in high-stakes tax resolution, founder Sam Faris helps clients avoid or manage unexpected audits, mounting interest, legal consequences, and the overwhelming stress that often accompanies CRA disputes. With over two decades of hands-on experience, he delivers practical, judgment-free tax solutions—without the inflated fees of a tax lawyer. “I’ve worked with a variety of clients—from teenagers who made millions online to professionals with undisclosed offshore assets—all of whom share the same fear of what might happen if they don’t act,” says Faris. “Our goal is to resolve tax issues quickly, without scare tactics, and to avoid further escalation with the CRA, which would be more costly and time-consuming. We offer only honest expertise and a transparent fixed-fee model from day one.” Faris assists clients—ranging from individuals and owner-managed businesses to large corporations—by helping them avoid expensive legal fees typically charged by tax lawyers. Whether it involves the Voluntary Disclosures Program (VDP), which allows individuals to reduce penalties, or handling reassessments, he gets clients back on track—legally and efficiently. Consider a recent case: a client hired Faris to correct corporate books that had been mishandled by a previous accountant and to file amended corporate tax returns. During the review, Faris discovered that a substantial amount of personal funds had been withdrawn from the corporation but had not been properly reported on the client’s individual tax returns. Faris promptly brought the issue to the client’s attention and recommended submitting amended personal tax returns through the VDP before the CRA initiated contact. The client agreed, and Faris swiftly prepared and submitted the necessary documentation.