You won’t want to miss out on filing taxes in the tax season to avoid penalties from the CRA. Besides, filing taxes on time will help you maintain goodwill as a tax filer in Toronto. You would also want to file taxes with the minimum tax burdens and claim your eligible returns. You can file your tax returns successfully by hiring a professional tax accountant in Toronto. Moreover, it’s vital to connect with the right tax professionals from the start. The best tax accountant will do more than fill out tax forms for a company. You can find the right tax professional if you follow our step-by-step guide.
Steps to Find the Right Tax Accountant
Here are steps you need to follow to find the right tax accountant:
Step 1: Comprehend Your Tax Preparation Needs
The first step is to realize the tax services you need from the personal tax accountant. You may only need to hire a tax professional who can file a simple tax return for you. Or, you may need to hire a tax professional who can file taxes handling complex tax situations for you, like Sohail Afzal, a renowned tax accountant of a reputable accounting firm in Toronto, GTA Accounting. Plus, you may need to consult with the tax accountant year-round. Once you realize your need to file taxes, you should look for a CPA with a specialization in taxes.
Step 2: Check with Your Connections for Referrals
Next, you should start seeking a tax professional. The best thing you can do to look for personal tax accountants is to capitalize on referrals or recommendations. You may have connections with people having the profile the same as yours. You may talk to people in your network sharing the same needs as yours and belonging to the same industry. It means you should talk to the workers or business owners belonging to your industry. It will help you find competent tax professionals, although it will take more time than an online search. You may search for tax professionals online, as well, if it suits you.
Step 3: Verify Credentials
You should verify the credentials of tax professionals who you think are the right person for your tax needs. You should ask tax professionals to show you proof of their authenticity. Authentic CPAs will have proof of their tax expertise no matter you want to file a simple or complex tax return. Moreover, the best personal tax accountant in Toronto can also help with tax strategies to minimize your tax burdens.
Step 4: Request an Interview
You can get a lot of information about tax professionals online to recognize their authenticity. Nonetheless, having an interview with the tax professional can help you better understand his/her tax expertise. You must have an interview with a tax accountant if you want to hire the person for the long term. You should take five to 10 minutes of tax professionals in the interview because tax season isn’t stress-free. Some of the questions you can ask tax professionals in the interview are:
- How do you ensure tax data remain secure?
- Do you charge an hourly or a flat fee for tax services?
- Do you file returns yourself or do you have a staff for it?
Ask relevant questions to tax professionals based on your tax needs to find out the right person for the job.
Step 5: Look for Warning Signals
Please remember, anyone claiming as a legitimate tax accountant doesn’t guarantee the person is. The following warning signals will help you identify incompetent tax professionals:
- Promising an amazing tax return
- Refusing to sign a tax return
- A missing website or a temporary office
- Charging a service fee based on your return
You won’t want to abandon filing taxes in the tax season to avoid penalties from the CRA. You can file your tax returns successfully by hiring a professional tax accountant in Toronto. Following the steps mentioned below can help you uncover the right tax accountant to file your taxes:
- Understanding Your Tax Preparation Needs
- Checking with Your Connections for Referrals
- Confirming Credentials
- Requesting an Interview
- Looking for Warning Signals
Please remember, choosing the right tax professional will also help you file your tax returns with reduced tax burdens.