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When to Hire a Tax Consultant as a Small Business

Last updated: Jan. 17, 2018 

Hiring a Tax Consultant for Your Small Business

Hiring a professional tax consultant for your small business is a strategic move that could save your business a lot of money in the long run.

A small business tax consultant is important to your business’ bottom line because they are there for the entire annual business cycle, and can help with tax management, bookkeeping, financial planning, tax preparation, and tax filing. This allows you to focus all of your attention on running your small business.
So, how do you know when it’s the right time to hire a tax consultant for your small business?

When You Need Advice on Critical Financial Decisions

A professional tax consultant can help you make crucial financial decisions and better management decisions.

A tax expert can provide tax preparation services for both your small business and personal returns, help prepare financial statements, provide advisory services, bookkeeping, and accounting services that are uniquely tailored to your business.

When You Need Help with Tax and Financial Preparations

Preparing and filing taxes is one of the top stressors when it comes to running a small business.

A small business tax consultant can make the entire tax and financial preparation process stress-free.

They are up-to-date on all the legal tax deductions your small business can make and point out issues that might raise red flags at the Canada Revenue Agency (CRA).

When It’s Time to File Business Taxes

When tax season rolls around, small business owners turn their attention to tax consultants. That’s because most small business owners don’t employ a full-time accountant.

Whether you need a professional tax consultant on a daily basis, weekly, or monthly basis, they can help your business keep up-to-date with bookkeeping and latest tax laws, and ensure your taxes are filed accurately, and on time.

In Case You’re Audited

It’s better to be proactive than reactive, but if you ever get audited, it’s time to hire a professional tax consultant. Admittedly, chances are good your small business will not get audited, after all, there are a lot of small businesses and few government auditors. That said, glaring errors on a tax return can make your small business a prime target for auditing. And getting audited can be expensive, time consuming, and stressful.
While the majority of small business owners in Canada hire someone to do their taxes, not all tax preparation services are created equal.

Make sure you find professional tax consultants that are experts with small business taxes, have offices open all year, can answer any questions you might have, and can represent you if an issue does arise with the CRA.

FBC, Helping Small Business Owners with Their Taxes

The fact is, tax consultants do more than provide help with just tax returns.

The small business tax experts at FBC use their knowledge of the CRA’s ever changing tax law and legislation to help small business owners save money and free up cash flow. We also provide advice on any and all financial and accounting issues.
How do we do it? Since 1952, FBC has worked exclusively with small business owners, farm operators, and contractors.

In fact, over the last 65 years, we have helped tens of thousands of small businesses owners from across the country maximize their deductions and minimize their tax burden.
For more information on FBC and the services we offer, call us today at 1-800-265-1002 or submit an online form and an FBC tax specialist will contact you at your earliest convenience.