It’s Tax Season! Get The Most Money Back With Our Bookkeeping Firm In North Vancouver!

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It’s Tax Season! Get The Most Money Back With Our Bookkeeping Firm In North Vancouver!

We’re a CPA firm in North Vancouver that will help you navigate through the tricky tax process and debunk some common misconceptions about taxes in general. As a reputable bookkeeping firm in North Vancouver, our professional accountants are committed to providing excellent accounting services for your business and will make sure your satisfaction is met. 

Tax season is rapidly approaching and that comes with its own fair share of hassles and misinformation. While it is possible to organize and file your own business taxes, the margin of error is increased and you may find yourself overwhelmed by all the information. Additionally, you’ll find yourself falling into a trap of believing in many tax season myths that are simply not true. Rather than go at it alone, consider outsourcing your bookkeeping and accounting to our professional team at Quest CPA. 

Our consultants offer various tax-related services for individuals and businesses including:

  • Personal income tax returns
  • Corporation income tax returns
  • GST returns
  • T4 & T5
  • Tax planning for Corporation and Personal
  • CRA tax audit for Corporation and Personal
  • Non-resident Tax
  • Inheritance/Estate Tax

 

What Are Some Tax Myths I Should Be Aware Of?

There are many tax myths that business owners can fall for that are simply not true. We’ll help debunk some of these myths and provide more context on how they’re relevant during tax season. 

The first myth is that an accountant and bookkeeper have the same role and position. This is wrong because while both perform similar tasks, bookkeepers are not qualified accountants, who undergo years of professional training, hard work experience, and exams. Our team consists of many qualified accountants with CPA training to help with your business’ outsourced bookkeeping. 

Another common myth that needs to be debunked is the fact that your business won’t be audited if your taxes are already professionally prepared and filed. Although this may reduce your chances of an audit, there are no guarantees and government entities like the CRA can choose to audit your business if they see fit. With an experienced accountant by your side, they will help make the process less stressful for you and your team. 

Accounting your taxes should also not only be important when tax season rolls around. For accountants and bookkeepers, it’s important for them to keep track of your financial information all throughout the year. If you organize your books consistently, it will make filing your taxes so much easier when tax season arrives. You’ll be able to get ahead of growth opportunities for your business while mitigating risks from any source and ensuring continuity.

Lastly, an accountant or bookkeeper should not handle everything related to your business’ finances. They are an added resource for your team, not a catch-all solution to make your job easier. While they can organize your financial books and file your taxes, they can offer your business so much more. Examples include serving as consultants or small business experts. They’ll also be able to offer helpful business advice, protect your assets and overhead expenses, guide tax plans, ensure regulation compliance, manage cash flow, and evaluate financing and credit opportunities. 

How Can A Bookkeeper Save Me Money?

The cost of hiring bookkeepers and accountants for your business shouldn’t be a detriment to your overall line. Business owners value time and the time an outsourced bookkeeper spends on preparing your tax papers can also save you money and grow your business. They’ll boost efficiency in your workplace, helping you conserve money by managing different assets and expenses. 

A professional bookkeeper ultimately helps keep track of your business’s financial margins and manage your monthly transactions. Their job is to leverage them into larger returns for various operating expenses. During tax season, they can help you find expenses and credits to help save money for your business. They’ll also make sure bills are paid on time and that payroll is taken care of. 

What Are The Benefits Of Outsourcing My Tax Preparation This Tax Season?

The best benefit bookkeepers and accountants offer for your business is the ability to free up your time and focus on growing it. Hiring an outsourced bookkeeper can ensure your financial books are accurate and timely filed come tax season. They’ll provide detailed reporting of your business’ expenses, write-offs, salaries, and overall budgets. 

By outsourcing your tax preparation, you’ll not only save valuable money and time but also gain ongoing expertise from an expert you can trust. Tax regulations and obligations are always changing and a bookkeeper or accountant can make sure your business will stay compliant. 

Contact Quest CPA today to book an appointment with us and start preparing for the upcoming tax season. 

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