Perhaps you have had questions to some Canada Tax issues and you have resorted to the internet to find the answers. This is a great resource but one you need to use with caution. There are tons of accounting articles and information available to you but you really need to know something about the source that is supplying you with that data.
The first thing you want to check out is that the information is about Canada tax. Many time people have followed instructions about tax matters based on an article they have read on the web, only to discover that it related to the USA or some other country. Watch for the terminology that is being used in the material you are reading closely. For example the IRS is the Internal Revenue Service that governs the USA taxpayers, while the CRA is the Canada Revenue Agency that is applicable to Canadian tax payers.
Next you want to determine that the information is current. Unfortunately there is a lot of outdated tax and accounting information on the web. Try to see a date when the information was posted. This will give you a better idea of how current the info. is and whether it would be reliable.
Finally the credibility of the information is important. If you are going to rely on information that relates to accounting and tax matters you want to be sure that the provider of it is a person in authority via training, experience and expertise.
You can find this out by checking out their “about us” section. Also, how long has the site been on web. Normally you will find that there are several different sources. There are the specific websites that are owned and operated by the financial expert, there there are article directories. Often the writers of the article directories are not the experts themselves, but are writers. They glean their information from other resources on the web.
Once you feel confident in the source of the information then you can feel more confident in the actual material. Reading this type of data is really important in that it helps to educate you on financial matters that may be important to you. A word of caution though is to use this type of material as an educational resource, not as a means of completing your taxes or handling other financial matters. For this you need to retain the services of the expert who is going to apply all of his knowledge to your particular situation.
Be sure to contact us here at Toronto Accountant as your financial matters are our business.
