WHAT ARE THE DIFFERENCES BETWEEN A CPA AND A BOOKKEEPER?
Only touching on the basic functions of both to provide a basic understanding of the differences; Bookkeepers take care of the day to day items, such as receipt entry, paying bills, sending out invoices, receiving payments, bank deposits and account reconciliations. Through these functions, the bookkeeper builds a collection of information that is then summarized and given to the CPA. The CPA then takes that information and prepares all necessary tax returns and makes any financial decisions, this can be yearly, quarterly or monthly, depending on what your business needs are.
IF I CANNOT AFFORD A BOOKKEEPER OR ACCOUNTANT, WHAT DO I DO?
Canada Revenue Agency requires that you keep your records organized and file your taxes on time, therefore these type of services will have to be factored into your budget. We can help you in either situation as we can provide you with fixed pricing.
I caution anyone who would decide to do their own books or taxes that has no experience in the public financial industry as the regulations are consistently changing and should not be taken lightly, hiring a professional will be worth every penny!
HOW LONG SHOULD I KEEP MY TAX RECORDS FOR?
The Canada Revenue Agency recommends keeping your tax records for at least six years. This six-year period starts at the end of the tax year that the records relate to.
WHAT ARE YOUR SERVICE FEES?
Our fixed billing has your bottom line in mind – this benefits you because we offer custom plans that allow you to manage your recurring needs, without having to worry about large fluctuations in costs from year to year.
IF TAX RETURNS ARE OVERDUE IS IT TOO LATE TO FILE?
If you are behind on your taxes or bookkeeping, talk to us and we will work with you to get you caught up before the Canada Revenue Agency comes knocking, because if your asking this question, it's only a matter of time.