A compatible accounting firm is integral to a business’s success. The truth is that accountants, CPAs, and tax preparers are not all the same. Most accountants spend the majority of their time with their clients’ monthly bookkeeping work, tax filings, and mundane compliance work – all of which take time away from paying attention to the unique financial and tax needs of a business. Accountants are often overworked, understaffed, and generally overwhelmed during tax season as they fight against the clock each year to complete all of their clients’ tax returns.
As you consider who you want to partner with for the strength and success of your business, consider the following things:
➤ When you talk with your accountant, are you getting his or her full attention?
➤ Does your tax professional really understand your business?
➤ Is your accountant giving you advice that increases profits, reduces taxes, and protects your assets?
➤ Does your accountant ensure there are no red flags for the CRA to audit your business?
➤ Does your accountant specialize in areas relevant to your industry?
If you answered “NO” to any of these questions, then it may be time to reconsider in whose hands you are entrusting your business. As you strive to be the best professional and best business owner you can be, help yourself by partnering with a compatible accounting firm – one that understands your work and can guide you in reducing your taxes, maximizing your profits, and protecting your assets.