What happens if you make a mistake on your Canadian business’ taxes?

Filing your small business’ taxes with the Canada Revenue Agency is something all entrepreneurs worry about in some form. Maybe you’re worried about your business’ tax filing deadlines, or you’re not sure what you can claim. And you’re doing your best!

But what happens if you make an honest mistake with your taxes? What if you forgot to include something, didn’t know something was taxable, or made an incorrect entry?

The good news is you can make a voluntary disclosure of your mistake to the CRA and avoid getting in huge trouble. Check out our free resource on what to do if you make a mistake on your taxes – and don’t forget to breathe!