Filing your personal income tax

Unlike the medical and law professions, anyone can call themselves an accountant. However, not all accountants have the professional training and acumen to deliver superior results.

When you trust a professional to prepare and file your income tax returns you:  

– Ensure your business records are professionally maintained: CPAs are bound by the regulatory body’s the rules of professional conduct and must therefore handle client files according the profession’s standards. This means that your records are kept private and confidential and you will be able to request or retrieve your file at any time. At MKG, all engagements come with standard documentation so that you know what we will be performing, the scope and extent of our work, and exactly what you will receive.

– Keep up with tax changes: CPAs regularly participate in professional development seminars and courses to ensure they are up-to-date with the latest changes to the Income Tax Act and are able to assess their clients’ accounts based on these changes. Did you know that you can refile your tax returns for the past three years? If you are unsure whether your taxes have been filed properly, give us a call. We perform free reviews of your prior tax returns. You will only pay if we recover an additional refund for you.
– Taking advantage of all possible tax savings: The Income Tax Act is complex and somewhat difficult to understand for the layman. When you trust a professional accountant to deal with your tax matters, you will be able to take advantage of all possible tax savings, pay the minimum required tax, and maintain a good standing with the CRA. We will spend as much time as needed to get to know your current situation and future plans and will recommend tax-saving strategies in order to pay the lowest overall tax possible.
– Avoid interest, penalties, and hassle: Canada’s tax system is based on self-assessment. This means that individuals voluntarily complete an income tax return to report their annual income and claim all deductions or credits that apply to their situation. If, however, you are unable to provide sufficient documentation or have claimed deduction or credits that did not apply to your situation, you will be responsible for returning the refund you received and may also be liable for interest and penalties. If you have not filed your prior year tax returns, I can help you avoid the interests and penalties.

These are just some of the ways in which we will deliver superior and reliable results. Contact us to make an appointment for a free consultation or a free review of your prior tax returns.

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