An accountant can help you keep your finances in order. There is software that you can use to manage your taxes and bookkeeping. However, you may need to hire accounting firms in Edmonton. There are many signs that indicate you need to hire an accountant.
Bookkeeping Is Time-Consuming
Bookkeeping can be a time-consuming task. This is time that you take away from your business. An accountant will be able to take care of the bookkeeping tasks for you. Because you will not have to worry about bookkeeping, you will be able to dedicate more time to growing and maintaining your business.
You Don’t Know What Deductions You Are Eligible For
If you are a small business owner, then you may be eligible for deductions. The deductions can maximize your tax refund or reduce your tax bill. Many business owners end up paying more than what they should because they do not take advantage of deductions, An accountant will make sure that you know about all of the deductions you are eligible for.
Your Revenue Is Increasing, But Your Profit Is Staying The Same
If you are bringing in more money, then you should be able to keep more money. It is time to call an accountant if you are making more money, but your profit is stagnant. Your accountant will take a look at your entire financial picture so that they can determine what the problem is.
You Have Received Notices From The CRA
Receiving a notice from the CRA can be scary. It is estimated that only 1 percent of tax returns are audited. However, if your business brings in more than $200,000 per year, then you are more likely to receive an audit. A professional can make sure that you provide the CRA will all the information that they need.
If you are looking for accounting firms in Edmonton, then you can contact ATS Accounting & Tax at www.atsaccountinginc.com.
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