 |
Perhaps our biggest expenditures go to the government through a variety of means such as, sales tax, income tax, G.S.T., federal tax, provincial tax, property tax, business tax, etc., etc.
Now we may not have much say on what our business partner, the government, does with the money (besides with our power to vote) but we may have a say in how much money goes towards the government and it's projects.
You may or may not realize that the rules on the governments side of your business partnership continue to flux and change. If you don't want to spend huge parts of your life studying and keeping up with the changes your business partner is making, you can do one of two things. Either turn a blind eye and give to your government business partner on demand, or you could bring someone on to your team that does spend a huge part of their life studying and keeping up with the changes that government and individuals or companies are making in the realm of finances.
A Chartered Accountant is a person that devotes their time and wisdom to understanding the partnership between government and individuals or companies. You may want to consider getting one on your team. This is a partner for your team that you can clearly choose, so use your discernment and pick one with high integrity.
But aren't Chartered Accountants expensive?
In the name of saving money you may be tempted to wait until the end of the year and then go to your corner instant tax return place that approaches tax work almost like an assembly line. Many of the people there have just taken a crash course in taxation and are hired on just for the year end rush. If you don't happen to fit the model that is going down the assembly line your individual needs are not likely to get addressed.
In the name of saving money you may be tempted to wait until the end of the year and then do your taxes yourself to the best of your ability.
In the name of saving money you may hire a Chartered Accountant for your team. That person who spends a large portion of their life studying and updating to the newest information so they can best care for your individual needs. That person who can help you plan for your entire year in a way that will best benefit you. That person who often can find savings in tax dollars that you were legitimately entitled to, but were not aware of. (For instance, did you know that as an employee you can claim some of the costs incurred related to work such as use of your vehicle. Just have your employer sign a form saying that you are required to incur the costs and that you aren't reimbursed for those costs.) The possible variety of new found savings sometimes surpass any amounts you will be billed by the chartered accountant.
On top of any extra savings that may be found, you will receive something that may be far more important. You can receive the peace of mind that comes with knowing that you have the best possible person on your team looking after your individual financial situation.
