Here are a few links and references that I hope will be useful for you:
http://www.accountingimpots.ca/links
Monday, 20 February 2012
Friday, 1 April 2011
Should I use the services of a professional accountant for my tax and accounting needs?
If I wasn't an accountant, I probably wouldn't be recommending it myself!
Yes, that is correct. I probably wouldn't be recomending spending money for an accountant if I thought, like you, that I you could do it myself. Like most people I would rather try to do it myself and to save my self from the services fees and save some money.
Then I would start doing doing the work and gradually begin to think like everyone:
- 'Why am I doing this'
- 'Am I doing this correctly'
- 'Why am I wasting my time on something that is outside my scope of experience'
- 'Why am I not having someone qualified with the knowledge do this in a quarter of the time I am going to take and have the peace of mind that it has been done correctly'
- 'Is the money I am saving by doing this myself going to cost me even more in the end, for savings I may have missed because I was not aware or misapplied credits or deductions?'.
Those are all valuable questions to ask yourself, but sometimes regretfully, when you have already unnecessarily committed too much of your time to the task, and there is no guarantee that you will find that experienced someone, who will be commited and reliable to do the work properly, it may feel like it is too late or not worth the investment to have it done by another professional. On the other hand, you would be surprised at the amount of time and money you can save when a return is prepared properly.
However, now that I am an accountant and have been on both sides of the equation, I defintiely know with certainty what is the most favorable and the wisest choice to make. For a reasonable service fee, one can save themselves alot of time, frustration and tax dollars by deciding to use the services of a dedicated professional CMA accountant!
Thanks for taking the time to read my comments, which I hope will be valuable to you.
http://www.accountingimpots.ca/
Yes, that is correct. I probably wouldn't be recomending spending money for an accountant if I thought, like you, that I you could do it myself. Like most people I would rather try to do it myself and to save my self from the services fees and save some money.
Then I would start doing doing the work and gradually begin to think like everyone:
- 'Why am I doing this'
- 'Am I doing this correctly'
- 'Why am I wasting my time on something that is outside my scope of experience'
- 'Why am I not having someone qualified with the knowledge do this in a quarter of the time I am going to take and have the peace of mind that it has been done correctly'
- 'Is the money I am saving by doing this myself going to cost me even more in the end, for savings I may have missed because I was not aware or misapplied credits or deductions?'.
Those are all valuable questions to ask yourself, but sometimes regretfully, when you have already unnecessarily committed too much of your time to the task, and there is no guarantee that you will find that experienced someone, who will be commited and reliable to do the work properly, it may feel like it is too late or not worth the investment to have it done by another professional. On the other hand, you would be surprised at the amount of time and money you can save when a return is prepared properly.
However, now that I am an accountant and have been on both sides of the equation, I defintiely know with certainty what is the most favorable and the wisest choice to make. For a reasonable service fee, one can save themselves alot of time, frustration and tax dollars by deciding to use the services of a dedicated professional CMA accountant!
Thanks for taking the time to read my comments, which I hope will be valuable to you.
http://www.accountingimpots.ca/
Tuesday, 22 March 2011
How do you know if you have a good accountant?
Here are a few questions and factors to ask yourself when evaluating whether you have a good accountant:
- Is your accountant accessable when you need him?
- Is your accountant listening to your needs and really considering your unique financial situation?
- Am I getting any personalized help and assistance?
- What tools, if any has he given to help me compile my expense figures?
- What has he done to simpify my work and preparation?
- Does he have a basic reminder list to help me start off from?
- How fast and efficient is my accountant in processing my file?
Those are all basic questions that should be answered positively if your accountant is really doing you a service and meeting professional standards. Anything else is less than what you deserve and should be looking for.
Word of advice: You get what you pay for most of the time.
Avoid accountants with large overhead expenses because you are the one who is going to pay for that. However, if you are looking for the lowest price, you will get the lowest service. Don't kid yourself. It is very wise to spend a few reasonable extra dollars to get the work done diligently. In the end you will most likely save alot more in taxes than what the increase in fee will cost you. From experience I can tell you that that is the case 2/3rds of the time.
Bonne chance!
http://www.accountingimpots.ca/topten
- Is your accountant accessable when you need him?
- Is your accountant listening to your needs and really considering your unique financial situation?
- Am I getting any personalized help and assistance?
- What tools, if any has he given to help me compile my expense figures?
- What has he done to simpify my work and preparation?
- Does he have a basic reminder list to help me start off from?
- How fast and efficient is my accountant in processing my file?
Those are all basic questions that should be answered positively if your accountant is really doing you a service and meeting professional standards. Anything else is less than what you deserve and should be looking for.
Word of advice: You get what you pay for most of the time.
Avoid accountants with large overhead expenses because you are the one who is going to pay for that. However, if you are looking for the lowest price, you will get the lowest service. Don't kid yourself. It is very wise to spend a few reasonable extra dollars to get the work done diligently. In the end you will most likely save alot more in taxes than what the increase in fee will cost you. From experience I can tell you that that is the case 2/3rds of the time.
Bonne chance!
http://www.accountingimpots.ca/topten
Thursday, 24 February 2011
Are you ready for the preparation of your tax returns?
Bonjour à tous! Hello to all!
Are you ready to have your tax return professionally prepared?
Remember, the more you are organized, responsive and have all your information, the less it will cost you in service fees. More importantly, the more you have chances of increasing your refund and minimizing your taxes, which in most situations can far outweigh the service fees. Hence the importance of findng a good accountant, who will assist you and make sure you have covered all your bases and prepare you for future years! In the end, it will be a much more enjoyable process and experience.
More tax tips at :
Are you ready to have your tax return professionally prepared?
Remember, the more you are organized, responsive and have all your information, the less it will cost you in service fees. More importantly, the more you have chances of increasing your refund and minimizing your taxes, which in most situations can far outweigh the service fees. Hence the importance of findng a good accountant, who will assist you and make sure you have covered all your bases and prepare you for future years! In the end, it will be a much more enjoyable process and experience.
Important Basic Preparation Reminders :
Advice to help you keep your processing fees to a minimum:
•Have all your documents organized and with you on your first visit.
•Add, compile and summarize together similar medical (per individual) & all businesses expenses on a summary sheet.
•Respond promptly whenever additional information is requested.
•Have all your information on hand for your dependents
Very important - Please have the following items with you :
- Your last Notice of Assessment and any other governement related documentation received.
- All other relevant documentation necessary for the preparation of your income tax return (donations, medical, receipts for home renovation, 'bus passes. Mutual funds and stock sales, RRSP, T3, T4, T5, etc…).
- For new clients or if you have a changes from last year, please bring the your completed NewClient Registration form.
- Previous or last income tax return completed and filed. (New clients only).
Commentaires et instructions aussi disponible en français sur mon site web.
Have a good tax season!
More tax tips at :
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