Canada’s tax landscape is becoming increasingly complex, especially for individuals and companies doing business within the U.S.
“What makes it so complex right now is uncertainty,” said Rocky Bhatia, tax partner at Baker Tilly in Toronto, a leading independent audit, tax, and advisory firm. “Tax rules are continuously changing, and changes that used to take years to implement are now happening within a two- to three-month period. It’s a different world, and it’s getting more and more complex as governments look to shore up additional funds for spending and their political initiatives.”
In this challenging environment, having the right support is essential for Canadians who want to stay compliant and avoid costly mistakes.
Atrustworthy and reliable tax leader
Bhatia brings over a decade of experience working in both the Canadian and U.S. markets to the , including extensive knowledge in cross-border and international tax structuring and compliance.
“I specialize in Canadian companies and individuals doing business in the U.S.,” he said. “If not handled properly, this can lead to double taxation — with individuals or companies getting taxed once in the U.S. and then again in Canada.”
Further complicating the U.S. tax landscape is the fact that in addition to federal taxes and the Internal Revenue Service (IRS), each state has its own taxing and audit authority — in stark contrast to Canada, where the Canada Revenue Agency (CRA) is typically harmonized with the provinces and territories. “When you add up all of these complexities, it’s as if you’re dealing with 51 different countries down south,” said Bhatia.
Bhatia and Baker Tilly team in pc28support mid-market clients (organizations with sales ranging from $1 million to $50 million) in navigating these murky waters to ensure tax compliance and tax efficiency on both sides of the border.
Tuning in to learn about taxes
If you represent one of these mid-market companies doing business in the U.S., Bhatia’s advice is straightforward: don’t go it alone. “Always have your dedicated, trusted professionals ready and listen to them,” he said. “I see a lot of DIYers and it costs them money in the end because their job is not to do taxes. Their job is to grow their business. Leave it to the professionals, rely on them, and continuously engage with them as well — tax isn’t just a once-a-year thing.”
Bhatia’s podcast, , cements his position as a trusted business advisor — and not just a tax specialist, but one who deeply understands his clients’ businesses.
“The podcast takes a practical approach,” said Bhatia. With other experts as guests, each episode explores real-life client scenarios. “We discuss a recent situation and how we resolved it in the most simple, direct, efficient way possible,” he said. “It’s conversational, and listeners get the straight goods right from top experts.”
Find out more about how Bhatia can help you by calling (416) 368-7990 and listen to the podcast today.
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