We are helping my brother get back on track. What concerns me is that he has not filed his taxes, and he’s been receiving letters from the CRA indicating that he owes outstanding GST/HST.

What happens if he doesn’t have the money to pay back the CRA? Can he file for bankruptcy? Can they go after his home or his vehicle to recover the money?

I want to hire a bookkeeper, but he doesn’t have the money to pay one. We family members don’t know what to do. If we lend him the money, we will probably never see a dime back. But if we ignore the letters, we don’t know what will happen if he continues not filing or responding to the CRA.

Does anyone have experience with something like this? Are there any bookkeepers who do pro bono work or offer subsidized services?
My brother is in denial, but a lot of this has to do with the heavy medication he’s been on since being diagnosed with extreme bipolar disorder in 2019. I feel bad for him, and I know he has some responsibility for the situation, but what can we do to help?

He continues to run his business mostly from his bedroom since the meds he’s on make him drowsy and unstable. He’s got employees but I’m worried they are taking advantage of him.

Hello all - hoping for some guidance, I have been the succession plan for my small Ontario corporation focusing on life insurance for a few years now. Principal is ready to make the transition but I'm feeling a bit unprepared and nervous from the tax side of things. He has done his own bookkeeping and a few things on the financials concern me.

If anyone is familiar with the industry and independent firm operations would love some input. Here are my main questions:

1. Is it normal to transfer ownership of an existing Corp or should I open a new Corp and transfer assets / clientele? There is a brand established and paper trail as the firm been in operations about 20 years.
2. How does one go about finding an accountant for this specific stage of business transition?
3. I am concerned about inheriting tax liability as the principal did his own bookkeeping, what are some ways to protect myself?