Having trouble finding the right tax accountant for your small business in Canada? Here are 3 tips that will help you make the right call.
Many small businesses hire tax accountants based on word of mouth. Usually, it’s a referral or someone who provides work for a low fee. So, if you’re taking your tax filing seriously, you’re on the right track already. You don’t necessarily have a large enterprise to benefit from a professional or company’s specialized tax services. Having professionals take care of your taxation can free your schedule to focus on your business’s core operations.
Here are some tips for finding the right tax accountant for your small business in Canada:
Experience matters
You’ll find many credentialled professionals providing accounting and tax services, but those with years of experience are likely to offer better value—experience matters. A seasoned tax accountant has extensive knowledge and understanding of the Canadian tax laws that only comes with years of practice. You can expect them to complete your business tax-related assessment more efficiently and maximize your tax savings.
Background check
Tax filing is a big responsibility and can affect the bottom line of your business. When hiring a tax accountant, make sure you do your homework, and do it right. Perform an extensive background check, ask for referrals, speak with the previous employer, and perform due diligence to ensure the tax professional you pick is the right fit for your company. If there’s any red flag during the process, it’s best to let go and start over.
Determine the cost
You want to hire a tax accountant that provides you the most value. A professional can charge in several ways, including flat fees, hours, and other methods. You can also bring one on board on a full-time commitment. Make sure getting a tax accountant on board is financially viable. Though we never advise you to file taxes on your own. If your small business tax assessment is fairly straightforward, paying a flat fee might be the most cost-effective option.
You can make the wrong call, and that’s okay.
Many small business owners pick the wrong professional, and so can you. But that’s okay. If you’re stuck with a tax accountant, don’t beat yourself up and start looking around for alternatives. You want to make sure your small business taxes are filed correctly, and you’re not missing out on deductions and incentives made available by the Canada Revenue Agency (CRA). A great way to ensure that is hiring the services of a professional company.
At Accounting Plus, we offer specialized, reliable business advisory services Toronto. We have a team of specialists with years of experience and expertise in Canadian tax and accounting laws. We also offer cloud-based accounting solutions Canada to streamline your business operations. Call 905 771 1131 to get started today.
