Vincent Gobuyan
Green Papaya Restaurant and Food Trailers

We are very thankful for the excellent accounting and tax planning expertise to save hundreds of thousands of unnecessary taxes caused by our previous Accountants

When we started the Green Papaya Restaurants, our Accountant at that time advised us to declare maximum payroll of $150,000 to $200,000 each per year (my wife and myself) under his doctrine of maximizing personal income

For ten years, we had paid about $150,000 in personal taxes each year, not counting the double CPP contribution (employer and employee share). The business especially in the first few years , the average earnings is less than $100,000 per year, most of the declared payroll to us is not paid due to insufficient income or cash , creating more than a million ($) due to Shareholder in the book

When ACT learn about our situation, they acted promptly, reversing about 2 years of unnecessary personal taxes of $150,000 each year, further tax calamity was avoided

From hindsight, we should have follow our common sense instead of relying on previous Accountant’s wrong and costly advice. The right doctrine should be: Employ tax minimization strategies of ACT Services