05/28/2026
The most expensive advice is usually «free.» 🙅♂️💸
We’ve all heard it: “My buddy does it this way and he’s fine!” or “My friend told me I can write off my entire vacation as a business trip.”
Here is the truth: The CRA doesn’t care what your friend does.
When an audit happens, «my friend said so» won’t save you from penalties and interest. Here’s why your friend’s advice might be a trap:
1️⃣ Different structures: What works for a Sole Proprietor doesn’t always work for a Corporation.
2️⃣ The «Lucky» factor: Just because someone hasn’t been caught yet doesn’t mean they are doing it legally. The CRA can look back several years.
3️⃣ Missing context: Your friend might be omitting 50% of the details that make their strategy legal (or illegal).
Your business is unique. Your tax strategy should be too.
At the end of the day, it’s your name on the tax return and your bank account on the line. Don’t risk your business growth on a «he said, she said» strategy.
📩 Stop guessing and start knowing. DM us to get a professional review of your books
