As professional accountants we study for long hours for many years and are required to pass intense exams to receive our designations. The learning does not stop there. After receipt of our designation we are required to complete a mandatory number of hours of professional development every year to ensure that we stay up-to-date with the large number of changes in the accounting industry. Bound by our membership to our association, we adhere to a strict code of principles and ethics or risk losing our designation and be subject to disciplinary hearings. Anyone can use the term “accountant” to refer to themselves, but only a professional accountant will have access to the skill base and current knowledge that is valuable to the public.
If you run a business, whether incorporated or self-employed, your time should be utilized where it is most valuable and for what you do best…running your business. Your free time for friends and family is just as valuable and should not be sacrificed to attempt to learn and keep on top of the numerous accounting changes. A professional accountant is available to provide you with this service.
The do-it-yourself method likely will cost you more in taxes than the fee you would pay to have a professional accountant apply their knowledge for you.
In today’s accounting and tax world the standards and rules are complicated. It is reality that the do-it-yourself method likely will cost you more in taxes than the fee you would pay to have a professional accountant apply their knowledge for you. A claim of too much or too little can cause headaches with the Canada Revenue Agency and potentially trigger an audit. If Canada Revenue Agency does come into the picture, your professional accountant will also work with them to ensure that everything is in compliance.
Whether starting a business, running a business, investing, tax planning, estate planning and everything in between, it is important to find an accountant that you can connect and feel confident with. It will be the best investment you make.
Please give us a call and see how we can help you.
This post has been prepared for general information purposes. It is not advice. The information presented may not fit your unique situation, please consult one of our trusted business advisors at RHN CPA for further clarification and interpretation of your circumstances.