The right tax preparation service can save you hundreds or even thousands of dollars on your taxes. Choosing someone who will be with you for the long haul is very important. You want a tax specialist who grow with you, whether it’s fresh out of university, maybe throughout your career, when you start your family, or ultimately as you plan for retirement.
If you have a simple return you don’t need a CPA who charges hundreds of dollars an hour. If you have a complex return that involves grey areas and judgment calls based on extensive tax experience, using an online software program might actually cost you more in the long run in missed deductions and strategic tax advice. How do you know the best way to prepare your taxes to get the most for your money in the long run?
Here are some ideas to get you started:
Choose a company that has been around for a long time, there are a lot of companies and even “one man band” style upstarts that claim to be “cheap”, “simple”, or even “the best” (whoa there big guy, lol). When dealing with revenue Canada and your hard earned money….. don’t you want a professional who has been in business for at least 10 years? How about one who operates their business ALL year long, not just during tax season? You want someone who you can contact when you need them and to be there for you, should revenue Canada have any questions. Think about it, you’ll thank me later.
Ask a friend who they use:
Chances are good your friends and colleagues have someone who takes good care of their finances, trust their judgement. Finding a good tax professional is imperative, make sure they are there for you and will be in the future. As previously stated, you want a company that can grow with your needs throughout your entire life.
Try to avoid:
The discount tax “specialists”, they have great advertising campaigns around tax time, but if you need them after that…well good luck. Also avoid the “hey I can do your taxes” guy, just because he bought a “one size fits all” software package doesn’t mean he can do your taxes.
All kidding aside, just do your homework, taxes are hard, nobody likes them. Go with an established company that you feel comfortable with. You may pay a little more, but you’ll sleep much better knowing you got good advice and revenue Canada is happy with you.