You are looking for a top-notch CPA firm in Brampton or Mississauga. One of the first questions you need to address is why you need one.
Complexities - Preparing a business tax return is far more involved than personal returns. Accountants have experience working with different types of businesses and what is an allowable deduction and what is not. They can also offer tips on how to plan for the next year's return to save money.
Tax Laws - Accountants review all the tax laws as well as those that are proposed throughout the year. If you are not fully aware of all of the nuances you risk making an error on your taxes or missing some credit or deduction that you are entitled to. It is part of the accountant's job to keep up to date with new laws and regulations.
Avoiding Costly Mistakes - An error on your tax returns can happen when they are inaccurate, incomplete, or late. This can mean penalties, fines, interest, and an audit. While there is never a guarantee that an accountant won't make a mistake, the chances are less likely.
Now that you know why you need an accountant, you need to find the best one for you. There are some key traits that you should search for:
Specialist - Accountants can have varied responsibilities and not all of them focus on taxes. If you are looking for a business tax accountant, that is what you search for.
Understanding - Tech consulting businesses are very different from manufacturing. They more an accountant understands your business, they better able they are to help you. They should ask the right questions and you should be able to explain your side. If you think they have overlooked something, speak up.
Small Business Experience - Not every accountant is able to deal with small or medium sized businesses. If they are used to working with larger organizations that have access to more resources, you can be at a disadvantage.
Communication - If you find you are asking the same questions over and over again, and the accountant uses the same terminology, it is possible they are not articulate enough to explain things. They may be terrific with numbers but if you can't make your desires understood or if you are confused about the operation of your business, it may mean you need a change. The firm or person should also keep you in the loop about progress on tax preparation or other tasks they are helping you with. If you need to call and remind them frequently, perhaps they are too overwhelmed with other projects to give you the attention you need.
Personality - This is not someone you are going to marry, but if you find yourself avoiding calls and appointments because you are uncomfortable working with them, then you need to find another person that will put you at ease.
Fortunately for you the Brampton office of Capex CPA in Brampton fits all the criteria for accounting services for small and medium sized businesses. Contact us for an exploratory appointment and see how we can help you with your accounting needs.