What are the Best Accounting and Tax Services – Top #1 choice & Costs

As a business owner in Canada, it’s important to understand the cost of small business accounting and tax services. The cost of these services can vary greatly depending on the level of support and guidance you need.

Traditional small business accounting and tax services, such as preparing and filing tax returns, can be reasonably priced, but they may not provide the comprehensive support and guidance that businesses need to fully manage their financial health.

In this blog post, we’ll explore the different types of accounting and tax services available in Canada, as well as their associated costs, so that you can make an informed decision about which services are right for your business.

#1 Traditional Accounting and Tax Services

Traditional small business accounting and tax services typically include preparing and filing tax returns, bookkeeping, and other routine financial tasks. These services are designed to help you meet your basic accounting and tax obligations, but they may not provide the level of support and guidance that you need to fully manage your financial health.

The cost of traditional small business accounting and tax services varies greatly depending on the size and complexity of your business, as well as the level of expertise you need. For example, a small business owner with a simple tax return may only need to pay a few hundred dollars for these services, while a larger business with more complex tax needs may need to pay several thousand dollars. In general, you can expect to pay anywhere from $1500 to $10,000 or more for traditional accounting and tax services, depending on your specific needs.

#2 Proactive Business Accounting & Tax Advisory Services

In addition to traditional accounting and tax services, businesses in Canada can also benefit from proactive tax and accounting advisory services. These services typically include ongoing tax support, tax planning, CRA representation, and tax problem prevention. By proactively managing your tax and accounting needs, you can avoid costly mistakes and ensure that you are always in compliance with the latest tax laws and regulations.

Proactive tax and accounting advisory services can provide a number of benefits to businesses, including:

• Minimizing your tax liability: An experienced accountant can help you identify tax-saving opportunities and ensure that you are always taking advantage of all the deductions and credits that you are eligible for.
• Improving your financial health: Proactive tax and accounting advisory services can help you stay on top of your finances, which can improve the overall financial health of your business.
• Avoiding costly mistakes: By working with an experienced accountant, you can avoid costly tax mistakes and ensure that you are always in compliance with the latest tax laws and regulations.

The cost of proactive tax and accounting advisory services varies greatly depending on the size and complexity of your business, as well as the level of expertise you need. For example, a small business owner may need to pay several thousand dollars for these services, while a larger business may need to pay tens of thousands of dollars or more. In general, you can expect to pay anywhere from $2,000 to $50,000 or more for proactive tax and accounting advisory services, depending on your specific needs.

#3 Why Choose Proactive Tax and Accounting Advisory Services?

Small business owners often find that they pay much more to solve tax problems than they would for proactive tax and accounting advisory services. This is because tax problems can quickly escalate and become very costly if they are not addressed in a timely manner. For example, a simple mistake on a tax return can result in a CRA audit and significant fines or penalties if the mistake is not corrected.

That’s why many small business owners choose to invest in proactive tax and accounting advisory services, such as those offered by Dexado Accounting and Tax. These services help business owners avoid costly tax problems by providing ongoing support, tax planning, and representation in the event of a CRA audit. By working with an experienced accountant, small business owners can feel confident that their finances are in good hands and that they are always in compliance with the latest tax laws and regulations.

In conclusion, understanding the cost of accounting and tax services in Canada is essential for any business owner. While traditional accounting and tax services can help you meet your basic financial obligations, proactive tax and accounting advisory services can provide a much higher level of support and guidance. By investing in these services, small business owners can minimize their tax liability, improve their financial health, and avoid costly tax problems. If you’re looking for a reliable and experienced accounting and tax service provider, consider contacting Dexado Accounting and Tax. Our services and offerings include Small Business Tax Accounting, Cloud Accounting and Bookkeeping, Tax Preparation, Tax Planning, CRA Audit Protection, Accounting Apps, Filing VDP Returns, and Custom Reporting. Our team of experts can help you navigate the complex world of taxes and accounting and provide you with the support and guidance you need to succeed.