You have had such a great idea and it really paid off.  You have started your own small business and people love it.  Unfortunately, you now need to deal with all the details, like bookkeeping and tax preparation.

Tax law is complicated and few entrepreneurs understand the documentation they need to keep, what is allowable and what is not.  It is important to take advantage of any deductions and credits, but you are busy working on the business and it becomes difficult to do everything.

The best solution is to hire an accountant.  He or she will be able to help you organize your records to give you the best advantage with the CRA.

Experience

When you hire an accountant or an accounting firm, you are paying for their expertise.  They understand the complexities of the tax system and know where and how to save you money by minimizing the tax and maximizing any refund. 

You may be able to handle matters on your own, but you probably won’t have the time or resources to carefully research all of the deductions and credits allowable.  An accountant deals with small businesses daily and is able to do the best job for your needs.

Efficiency

It will take you far less time to accumulate and send the necessary paperwork to your accountant than it will take you to actually prepare and file tax returns.  That means you would be robbing your business of precious hours that could be better spent growing the enterprise or resolving other issues.  It also means you will have more time to spend with your family or in leisure activities.

Yes, you will be paying the accountant a fee, but part of that money goes toward the efficiency you will gain.

Prioritizing

As a small business owner, it is often difficult to carve out enough time each day to take care of important decisions and even less time for mundane tasks like bookkeeping, even though they are critical to the success of your business. 

Working with an accountant that uses cloud services, makes everything simpler. 

Peace of Mind

Using a qualified accountant gives you the ability to stay composed.  You have the confidence that matters are in professional hands and you can just wait for their resulting report.  This means you can focus on the operation of your company and leave the bookkeeping to those who understand the importance of this task and are working for your benefit. 

Fewer Errors

A small error in tax preparation can mean a significant monetary loss.  Avoiding penalties and interest payment should be a priority.  Using an accountant means they will be on top of all the critical elements involved in your tax preparation.  Their knowledge of the tax laws and regulations will help avoid problems and save you money in the long run. 

The bottom line is that the stakes are high and you need the best professional advice and operation possible. 

Contact your Accountants today click on this link —> https://capexcpa.com/contact

- The Capex Team