Accounting support of a business in Canada plays a very significant role in its proper organization. Since only with well-organized support there is an opportunity to achieve full-fledged results from the activities of a particular company.
Who is a tax accountant?
The main array of large accounting firms that provide support services to various companies by concluding outsourcing contracts provide a different range of services. Taxation services that require particularly careful compliance with tax laws in Canada are no exception.
All accounting companies in Toronto must have tax accountants with the highest level of qualification in their staff.
Who is a tax accountant anyway? Already by the very name of his profession, it becomes clear that we are talking about a specialist who provides services for tax support of a company. However, ordinary residents of the state can also turn to his help, especially if for some reason they have questions about the procedure for calculating and paying tax contributions.
A tax accountant is engaged in assessing the applicability of the current fiscal legislation in relation to a specific enterprise or person, makes all the necessary calculations of tax payments that must be made to the state and local budget independently. A tax accountant may also be charged with the responsibility of checking previously completed tax deductions and refunding overpaid amounts.
Is it worth hiring a tax accountant or can you get by with outsourcing?
The services of a tax accountant are very expensive in Canada, because these specialists belong to the Accountant category, that is, they have a special certificate of membership in the association of professional accountants. That is why each company makes a decision independently – to turn to the help of a tax accountant on outsourcing or to introduce an independent unit to the staff, whose services will be resorted to once in the reporting period. Often, it is more profitable to attract an accountant through an outsourcing contract than to keep such a specialist on the staff, since when concluding a contract for tax support, the cost of his services will be paid on a one-time basis and will not be a significant burden on the company’s budget.