5 deciding features in selecting a professional to prepare your personal and corporate tax returns
Consider these factors when you are looking for a tax professional, please get a professional to help you if your taxes are complicated.
Preparing your Personal and corporate tax returns accurately is key.
1. Education and training
There are different levels of professionals who prepare tax returns. Some are CPAs meaning they are university graduates who have passed the rigorous CPA exams. None designated accountants who have graduated from college or university but have taxation knowledge. Lastly, there are individuals who have some basic training in preparing a tax return or have learnt to use taxation software to prepare returns. More education and training definitely means more competencies.
In any professional fields, experience is extremely important. Generally, a professional with 20 years of experience can help you more in comparison with less experienced professional. In my experience, when I'm asked with a tax question, I can provide the answer right away and don't need to research it, meaning less time spent on clients file. Time is money. Experience is also provides the preparer with a high level view on the preparation of the tax returns, meaning strategies can be built.
3. Complexity of the tax return
Some tax returns are more complex than other. There may be interest income, stock trades, rental properties, foreign income, disabilities, tax splitting, employment expenses, Use of home, use of auto, or self-employments, ensure to ask about a tax professional’s experience and knowledge related to your particular tax situation to ensure they will be able to handle your return. We prepare all the above and also prepare corporate taxes (T2) and SRED (scientific Research and Experimental tax return) and also trust returns (T3).
Trust and relationship makes a big difference. Find a CPA to prepare your taxes and try to stay with them during the year and especially if you are self-employed so you can keep asking then on an ongoing basis. Most of our client’s text, email, phone us with questions concerning their business activities. Establishing that relationship with a CPA can help make the process easier year after year. Read the testimonials on our website (www.TBCO.ca and www.Numetrica.city) and judge for yourself. We have cemented a strong relationship with our clients in Ottawa and pride ourselves as one of the best tax preparation service provider in Ottawa.
There is a big cost difference between hiring a tax preparer. Also remember that is there are mistakes you are paying the interest and penalties and not them. Additionally more experienced professional can also save you more in taxes. Remember you are paying for the quality.
Definitely put us to test for the features mentioned above and see how we stack up when it comes to tax preparation services in Ottawa. In fact, mention this article and we review your prior year tax return totally on the house to see if something was missed or overlooked.
Preparing your personal tax returns should be done right, not cheap.
Want some tax tips? Read this.
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