What to look for in a tax accountant in Toronto

Doing your taxes can be a frustrating and tedious process. Knowing how much you have to pay and getting that amount right can feel like a guessing game. Furthermore, you would hate to short-change the government then have to pay a considerably larger tax than what you originally thought. With the help of a tax accountant in Toronto, you can not only get it right the first time, but you can also save money. If you’re looking for a tax accountant, our team at Leonard Tam Professional Corporation can help.

Affordable service fees

It doesn’t matter what kind of task you’re having an expert perform for you, it’s going to cost money. However, it’s important to know when you’re being charged too much. A tax accountant can do a great job for you and still have affordable rates. Be sure to consider the amount of time and money they’re saving you by using their services. If you don’t feel like the juice is worth the squeeze, it’s probably not a bad idea to look somewhere else.

Communication

One of the most common reasons you want to work with a tax accountant is to make your life easier. You should be able to drop off necessary documents and additional information to your accountant’s office while they prepare your taxes for you. They must communicate to you any information that’s missing before you come in to see the results of your filing. The best tax accountants make communication a high priority so the whole process goes much smoother. Poor communication can lead to mistakes in your filing or delays in your return.

Offers tax planning

Planning for taxes can be a difficult process. This is especially true if you’re self-employed. A tax accountant who has your best interests in mind will show you what you need to plan for in the next year. This makes it easier to know what to expect in the coming months and years so you can save money accordingly. Tax planning is a great way to ensure that you’re not hit with a huge bill and allows you to properly save for other areas of your life as well.

Stays updated on laws

Sometimes it seems like tax laws can change with the weather so it’s difficult to stay on top of the latest rebates, credits, and incentives. It’s your tax accountant’s job to keep up with these changes so you can be informed about properly filing your taxes. Additionally, in-depth knowledge of current tax laws can end up saving you hundreds or thousands of dollars on your tax responsibilities.

Willing to teach

When you’re paying your taxes, it’s nice to know where your money is going. Work with your tax accountant to see how much you should really be withholding each year based on your family and living situations so you can maximize the amount of money you bring home. Yes, it can be nice to withhold more than you need so you can get a bigger return without risking a $5,000 bill coming due. However, you could be robbing yourself of savings and financial security by essentially forfeiting a large sum of money each month.

Book a meeting

If you’d like to learn more about Leonard Tam Professional Corporation and how we can serve as your tax accountant in Toronto, book a free consultation today. Use our appointment form to find a time and day that work best for you. If you have any questions before booking a meeting, give us a call at 416-783-2222 or send a message using our online contact form. We can answer your inquiry then set up a day to meet with our team.

What to look for in a tax accountant in Toronto