Choosing the Right Professional for Your Needs
Suggestion to Accounting and Taxation Services Seekers:
- Assess your level of accounting and taxation knowledge: If you have a limited knowledge of accounting and taxation, choose an accountant who can explain basic concepts in easily understood language.
- Have a basic knowledge of the tax system in Canada (and U.S.A. if you have business in States).
- Have a basic knowledge of the accounting industry in Canada.
- Identify your accounting needs:
Ø Do you need financial reports since you have outside shareholders?
Ø Do you need routine and special reports to improve operation?
Ø Do you concern the fairness of payments to CRA/IRS and the tax risk management?
Ø Do you need customized tax planning to accommodate your changing situations?
Ø Is meeting legal requirements of CRA/IRS filings and record-keeping your major need?
- Select an accountant whose expertise fit your needs.