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I realized one very important thing after this incident with my taxes. It hit me like a ton of bricks! I finally realized why this happened to me! I am not vibrationally aligned with wealth.

Law of attraction

There is so much talk about the law of attraction right now that I don’t think I need to really go into detail about what it is. Maybe in a later post I’ll describe it in much more detail.

Basically, like attracts like. What does that mean? It means that whatever your vibration is, that’s what you attract. It does not mean whatever you are thinking about, or feeling, or even visualizing but whatever you are vibrating, that’s what you are attracting.

If you want a new car but you keep hating your current car, you are not going to get a new car. Even if you do get a new car you’ll find someone to dislike in that car as well. Way to get a new car is to totally love and appreciate your current car and then want a new car. Totally appreciating your current car changes your vibration and from that state you can actually attract a new car.

My money vibration

My pattern until now has been this: I don’t have money and I keep sinking deeper and deeper in debt. Now even though I’ve been working for a few years and earning decent income I’m still quite a bit in debt. And whenever it seems like I’m getting some more money coming in my life, something unexpected happens and even more money goes out of my life.

For example, I got a raise recently and now I got hit with taxes. Before, it might have been that all of a sudden my car would break down, or some agency that I owed money in the past, which was wiped off my credit report, would find me.

Experiment in improving my money vibration

I’ve read a lot about keeping $100 in your wallet all the time. So, that’s what I did. Everything was going fine until I ran out of cash in my wallet and I ended up using my $100. I just was never able to keep $100 in my wallet for long. Something would always happen which would cause me to use it.

Then I decided to keep lowering the amount to $50, and eventually to $20. Even with $20 I found that I was unable to keep it in my wallet. I would run out of rest of the cash in my wallet, and then use that $20 thinking I would get some money out of my bank and refill my wallet. But that wouldn’t happen. Often I ended up borrowing money from friends to pay for parking at my work (they accept cash only). Not because I didn’t have money! I had enough in the bank but my wallet would be empty of cash.

Then I recognized my pattern. I was not comfortable with having money. Not only was I more comfortable with spending all my money but I seemed to be going in debt as well (borrowing from friends to pay for parking, even though I’d pay them back the next day). Point is not that I was paying them back next day, nor that I had money in the bank! Point is that my current vibration was of lack and debt.

What does this has to do with my taxes?

As I mentioned earlier, I had recently gotten a raise and before long I got this call from the auditor. I was not surprised afterwards though. Once I had recognized what my current vibration was, it all made sense to me. Everything in my life began to make sense.

I was so thankful to this situation. Even though I’m even deeper in debt now, at least I recognize what’s been happening to me and why!

Finally the day arrived. The Revenue Canada auditor had agreed to meet me and my accountant at my condominium building. At 7:30am both of them arrived. We went into the cards room. Mind you the building I live in looks amazing! Even the auditor from Revenue Canada said as much. He was really interested in the building and asked me several questions about it. For example, how much the units are selling for? How is the building? How is the quality? And so on…

All necessary papers come out

I had brought all the receipts which I had been keeping with me, all nicely organized. I had all my bank statements and whatever else I thought could help with the audit. I presented all of this to the auditor, after formalities were done with.

Audit not random

The auditor went over everything and told me that I had brought the audit onto myself. I had ignored the letters which they had sent me and thus, they had been forced to look into my account in more detail. Hmm… all this while my accountant was just sitting still with his mouth open. He was the one who had actually told me not to worry about those letters! Every time my accountant tried to say something the auditor told him that he was totally incorrect and that was not the way it was.

Final verdict

Finally, end came and auditor told me that including all the late charges etc I owed them about $30,000-$35,000 in payroll only. That did not include GST! But since I was nice and co-operated with him, he had reduced the fines as much as he could and I only owed $7,000 in payroll fines to date. I didn’t know whether to feel good or bad. On top of that since I had used my company account to pay for personal stuff all my corporation income was to be treated as my personal income now. That was bad!! No more writing the car’s lease off either!

Anyhow, things looked quite bad for me and my accountant was no help either.

So, as it stands right now, I owe Revenue Canada quite a bit of money! Adding all that to the debt I’m already in makes for quite a mess. Talk about a challenging situation!

Good-byes

Auditor left while setting another date for all of us to meet in the near future so he would give me a T4 for personal income. And my accountant waved good bye to me while letting me know once again that he would send me the bill for today!

Conclusion

I get the feeling that you do get what you pay for! The accountant totally screwed me up! I had followed his advise from day one and he had assured me nothing would happen to me. How none of his clients had ever gotten audited! He had given me wrong advise as well. I could never ask him any questions either. He always seemed to be in a rush. Now I actually found out that he had a full-time job as well, so accounting was his part-time business.

Actually, he is also a mortgage broker and every time I asked him about accounting advice, he would start asking me to give him mortgages (since I’m also a real estate sales person).

But I also realized how silly it was of me to totally leave everything in his hands. I should have done a little more research about taxes in Canada. I thought he was the professional and I was paying him for his advice. So, I learned a big lesson here. No matter what, one should always know the basics at the very least. It’s not good to rely on someone so completely!

Or get someone decent and experienced. It may cost a little more initially but help tremendously in the long run! To think if I had only hired someone more experienced, he or she might have saved me thousands of dollars that I am going to end up paying in taxes! Ah well… live and learn.

I found an accountant who said “Do not worry about anything! None of my clients have ever been audited!” On top of that this accountant was quite affordable! What could be better?! I like to save money just like everyone else and get the best deal possible just like everyone else, well maybe a little more.:-)

Corporation plus personal taxes to file

I have a corporation which I opened up for my computer consulting plus real estate business. On top of that I have to do my real estate (sales person) taxes. All in all it always amounted to quite a bit that I had to pay for an accountant. When this accountant came along (via referral), I was only too eager and so, I signed up.

6 years behind in taxes

I was behind my taxes quite a number of years. Maybe needed around 6 years of taxes filed. I got all of them done successfully and finally. Then I sent referrals to this accountant and I got an even better deal.

Negotiations with Revenue Canada

Everything went smoothly. I negotiated with Revenue Canada for time to pay my taxes in installments instead of one lump sum payments. I have always found people at Revenue Canada to be extremely nice and helpful. Others I know have had different experiences but my experiences with them have always been positive. I asked them to give me time to pay the taxes and they agreed.

Paying off taxes monthly

I set pre-authorized payments to be withdrawn from my different bank accounts for Revenue Canada, for corporation taxes, personal taxes, personal GST, and corporation GST. Everything was going soooooo smoothly, every month money was being taken out and my debt to Revenue Canada was going down!

Letters from Revenue Canada

I started getting letters from Revenue Canada about making my payroll payments. I took it to my accountant who said not to worry about it, and we would set up payroll next year, just ignore it!

He was the professional! So, I just ignored these letters. Which turned out to be not such a wise decision on my part!

Phone call from Revenue Canada

Finally, someone from Revenue Canada called me up and left a message to return his call as soon as possible as this was quite urgent. So, I called him up.

He was quite nice and polite and told me that he was the auditor and he was auditing my corporation’s payroll account. He said that he would like to meet with me and my accountant as soon as possible to discuss this very urgent matter.

If I delayed I could be paying much heftier fine compared to what I was going to pay anyways as late penalties.

Meeting with accountant

Accountant was quite helpful though. I met up with him and he helped me go through all the paper work and my receipts etc. But he kept reminding me how this was going to cost extra since he was doing work outside his normal work. Hmm… anyways. I thought since he was helping me so much I would definitely pay him even if he hadn’t asked. I’ll continue this story in the next post…