Yes, we are just entering into the fall, which means that many of us in Toronto have the unwelcome thoughts of the cold hard and long winter ahead of us. It also means that we are in the last quarter of the year. Which in turn means, we will be soon facing the year end of another Canada tax year.
If you really want to avoid the tax rush, then don’t leave your obligations to the last minute. In other words don’t put yourself in a position where you have to rush around looking for Toronto bookkeeping services or the right Toronto accountant a week before taxes are due.
What ends up happening is the record keeping that has not been organized, and has piled up now creates the need for a bookkeeper to get everything in order. Depending on the size of the business this can take at least a few weeks. Then these financials have to be given to a reputable accountant who is going to prepare the year end statements and complete the tax filings. Tax season is an extremely busy time of year for these professionals. Trying to find one that has a great reputation and reasonable pricing can be a real challenge at this time.
By thinking about getting your books in order now, and choosing your Toronto accountant you will be in a good position when it comes time to look after your year end responsibilities.
Ideally using the combined services of an accountant that offers bookkeeping services has a lot of advantages to it. First it will save you time. You don’t have to run around to different locations and offices to deliver the necessary documents. Then most often it is less expensive using the dual accounting services rather than two separate entities. Finally the accuracy and the chances of getting you all of your tax breaks are much better. While there are general accounting rules that have to be followed by both professions it is much better when these two experts can work together. It may allow them to advise you on some tax planning alternatives that would serve you and your business better.
Taking all those accounts that you have been accumulating in that huge file right now to your bookkeeper is the first step in the right direction to getting ahead of the tax crunch. If you are not familiar with accounting services, ideally you should set up a meeting with this professional now so he can guide you in your preparation for your returns. Plus, by retaining his services now you are not going to be running around looking for a quality accountant when you are ready to file.
Give us a call here now at (416)398-1700, and let’s get you in good financial shape when it comes to the next and very soon to arrive tax season.
