We all know the joke: “Nothing is certain but death and taxes. But at least death happens just once!” This is morbid, but like all good jokes, it holds some truth. Taxes are a lifelong companion we will never entirely be rid of.
They may take a decent chunk out of your paycheck, but luckily, they needn’t take up much of your time. Aside from moving to a tax haven, hiring an accountant for your next tax return could be the next best thing!
Don’t believe us? Fair enough. Let’s talk specifics…
Industry Knowledge Specific to Canada
Canadian tax law is complicated and is always changing. Accountants (more specifically, CPAs) go through years of professional training to deal with this complexity, so you don’t have to. This expertise isn’t just about compliance with the law; there are opportunities hidden amid the detail that a trained expert can spot and deploy to your advantage. That kind of expertise pays its own way, so why would you turn it down?
Most of us feel there aren’t enough hours in the day to get our work done and have enough time to spend with our families and our passions. What’s that, you like to read up on accounting regulations to relax and unwind after a hard day? That’s awesome, and you are one of a vanishingly small number of humans, sir or madam!
For everyone else, an accountant gives you back the time you need to focus on what matters – even if today that happens to be the laundry (sigh).
Plans For The Future
Dreams – both large and small – usually cost money. Whether it’s your first house, your kid’s college education, or a dreaded trip to the mechanic you’ve been putting off – there is a strong chance that you have a looming bill or invoice in your future that somehow you will need to fund.
Accountants are great at that! They know (and have seen) how large, sudden expenses can derail the best-laid plans of mice and other lifeforms. They are there to help you prepare for your future with plans, contingency plans, and backup contingency plans.
Keeping Your Business Organized
Ever find yourself unable to enjoy a movie because you can’t remember if you turned off the oven before you left? Under the pressure of running a business, the limitations of the human brain are often tested to their limit, and important details and tasks can slip through the cracks.
An accountant provides an outside eye who can help keep you organized and on task, serving as a counterweight to the many concerns pulling you in the other direction. The result is that you can sleep easy knowing that the small yet crucial details are taken care of.
Eliminate Tax Anxiety
It’s no secret that taxes bring their fair share of worry, even for – especially for – successful businesses. Often, we get overworked thinking about “what if’. With the help of a CPA, you can eliminate this anxiety.
Better yet, you can transform it into something positive! Instead of dreading tax season, you can see it as a chance to learn about your finances from a chartered professional and reconsider strategies to break through to the next level.
Be Kind To Yourself
There’s a common misconception that successful people “do it all on their own.” In order to be taken seriously, you need to be that put-together guy or gal, hustling 24/7. This is – to use the technical term – baloney. Sometimes you need to take that extra time to self-care, close the laptop, and take that early night. And how do you free up that extra time? Yes, you guessed it!
Of all the many benefits that come from hiring an accountant – from taking advantage of industry knowledge to securing the future of your business – the number one rationale, in our view, is peace of mind. Safe in the knowledge that we can handle your tax returns, you can get back to scaling your business. Simple as. End of.