Affordable Tax Returns
Allan Madan, CPA, CA
Are you tired of paying large fees to your accountant for preparing your personal or business tax return? If you answered yes, then this article is for you.
There are a few easy things that you can do to make sure you don’t get struck with a big accounting bill:
1. Organize your information
If you provide your accountant with a shoebox full of receipts, he’s likely going to charge you a higher fee because of the time spent on organizing all of that information.
However, if you organize your information ahead of time and only provide your accountant with the information he needs, then you’re one step closer to having affordable tax returns.
Please see Personal Tax Return T1 Checklist to help you get your tax return information in order.
2. Affordable tax returns vs. benefits
While we’re all looking to save money or obtain the best deal, cost shouldn’t be our only factor when making a purchasing decision. Similarly, when looking for affordable tax returns in Mississauga, you should also evaluate the experience, competence, and service level of the accountant that you hire.
What could be worse than paying a few dollars less for a tax return, and having to lose hundreds or thousands of dollars in tax deductions because of the inexperience of a cheap accountant in Mississauga?
3. Purchase an accounting software package
If you are a business owner and are recording all of your expenses and revenues in excel, or on a piece of paper, then it will be very difficult for you to find affordable rates for tax returns in Mississauga. The reason being is that it will take lots of time by your accountant to prepare financial statements from the manual data that you have provided him.
Therefore, I recommend that your purchase an accounting software package such as QuickBooks or Simply Accounting. These user-friendly accounting programs will help you prepare your invoices, track inventory, payables, receivables and even produce financial statements for you and your accountant.
Disclaimer
The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.
ABOUT THE AUTHOR
ALLAN MADAN
CPA, CA
Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.
