Tax season hasn’t arrived just yet, but that’s all the more reason to consider personal tax preparation services now. It is always better to engage such services ahead of time rather than do it as part of the mad scramble when the April deadline starts looming overhead. Engaging a professional to perform your tax preparations can let you make it through such a frantic time without stress and with the confidence that you have paid your appropriate dues.
Identifying Tax Professionals
Whether you go to a tax preparation service for advice or because you wish to have them perform your filings, it helps to know the different types of professionals you will encounter. Some tax matters are more complicated than others, and the intricacy of your case will determine which professional is right for you.
These are certified individuals who have passed an exam to become recognized tax practitioners. Such people are knowledgeable and licensed to represent you in dealings with Canada Customs and Revenue, but they may not possess the knowledge for complicated cases or disputes. In general, an enrolled agent should be able to assist with standard matters when filing taxes.
Chartered Private Accountants (CPAs)
These individuals have met extensive educational and on-the-job requirements in addition to ongoing education so that they stay current on taxation issues. Accounting firms employ a number of CPAs and even if your tax return is handled primarily by an enrolled agent, a CPA is likely to have at least signed off on it at some point in the process. If your tax return is more complicated than normal, these experts are often capable of helping.
Attorneys who specialize in tax law are used for when your returns end up intersecting with the legal system. If you have a business partnership or are attempting to engage estate planning services, for instance, a tax attorney can help you sort out how different elements of these activities will (or will not) affect your tax liability. Additionally, in the event that you become charged with a tax violation, a tax attorney can help explain the matter and possibly even defend you.
How to Know You Need Professional Tax Services
There is a simple question that you can use to see whether you are in need of a tax preparation service: “Are you sure?” If you feel that you understand the forms, have filled them out correctly and double-checked them, and didn’t make a mistake, then you can rest easy. However, if you are confused about something on the forms and can’t get a proper answer on your own, or if you’re worried you wrongly filled out your return or may have missed something important, then a tax service can offer expert help and peace of mind.
The price for tax preparation services is usually based on the complexity of the task. If all you want is a second pair of eyes to make sure you have dotted your i’s and crossed your t’s, it will be an affordable and fast experience.
Paul Babber and Associates Ltd. have been providing personal, business, and corporate tax and accounting assistance to GTA residents for over 30 years. Contact us at 905-707-7719 or through our contact form to receive friendly, professional help.
For over 30 years, Paul Babber and Associates Ltd. has served residents of Richmond Hill and the Greater Toronto Area (GTA) for all their income tax needs. Founder Paul Babber brings over 40 years of experience to the practice. He has provided income tax service in the GTA since 1970. Since receiving his designation in 1960, Paul has acquired a wealth of knowledge in many areas of personal and corporate taxes.
The practice also employs eight accounting assistants with a commitment to providing the best and most reliable income tax services. The friendly and knowledgeable staff will provide you with all the answers you need about Canada’s changing tax laws. They offer e-file online for fast and reliable tax refunds. Whether it’s filing annual corporate and/or personal income taxes, handling all details of CRA audits and reviews, or helping our clientele plan for their financial future, we pride ourselves on our friendly, personable approach to accounting.
Your privacy when it comes to financial matters is important. That’s why we offer confidential service for our clients. We realize that you have a busy schedule and can’t spend hours at your accountant’s office. That is why we will work to serve you as quickly as possible.
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