Complete your own tax returns and save money, right? Wrong!
Canada operates a self-assessing tax system. What this means is that the taxpayer is responsible for reporting their income and determining how much income tax they owe. What it also means is that since the taxpayer decided the amount, CRA is under no obligation to let you know if you have overpaid your taxes. A tax return can be prepared 3, 4 maybe 5 different ways and each one of them can be technically correct, but only one of them will be to the best overall advantage of the taxpayer and their family unit.
Software is available that will assist the taxpayer in completing their tax return but as we all know, software and computers only do what they are told to do, exactly what they are told to do. The Income Tax Act consists of ~4,000 pages of mind numbing legalize and there are approximately another 100,000 pages and publications explaining what it says. Because of the self-assessing income tax system, you, the taxpayer are supposed to understand all this.
Taxation is the single largest annual expense of Canadians today. This year, use the services of a Professional Tax Specialist and make sure that you have every deduction, every credit and every advantage available to you.
At The Accounting Place we know that taxation is your single largest annual expense and believe that everything we do is part of your wealth building and retention plans. We also believe that no one can know it all, or be an expert in all areas of financial services.
This is why we specialize in taxation and work with a team of experts in their respective fields – either yours or ours – consisting of financial planners, investment advisors, bankers, lawyers, estate and retirement specialists and insurance representatives. This gives you access to the expertise that you need and, with The Accounting Place working as your primary advisor coordinating an overall wealth building plan, we can help you manage your financial affairs to your best advantage – while you do what you do best!
Why give the taxman more than is absolutely necessary by law? The Accounting Place is conveniently located at 154 Grays Road, Stoney Creek. Find out how you can maximize your wealth retention.
Give us a call at 1- 866-938-1010. TALK TO US…