11.08.2022
Taxation
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There are many ways to file your business tax returns. One solution is to make use of an external provider of accounting services. Of course, your first instinct might be to type your search into Google and choose a provider that is easily accessible and offers the services you’re looking for. You can also ask people you know for recommendations—it’s always good to have feedback from previous clients.

The corporate tax accountant you choose will play a crucial role in the success of your business. Therefore, it’s vital to make the right choice. There are many factors to consider when deciding which accountant is right for your business. Find out more!

The corporate accountant’s credentials

There are major differences between an accounting clerk, an accounting technician and an accountant. Before signing a business contract with your prospective corporate accountant, it’s vital to verify their credentials. You need to ensure that they have the expertise necessary to resolve your problems.

An accountant with a certificate from a vocational program may be adequate if you only require simple bookkeeping. However, an accountant with a university degree is preferable if you run a business and are looking for personalized tax solutions such as optimizing your corporate taxes.

If you ever need a tax accountant, make sure they have a graduate degree (Master's in taxation) from a recognized university. Ideally, an accounting professional who specializes in business will be best placed to recommend appropriate grant and financing programs.

The corporate accountant’s professionalism

In addition to having the right credentials, an accountant should belong to a professional order and be familiar with the tools needed to exercise their profession.

To protect yourself and ensure that you receive the best possible guidance, make sure that your corporate accountant belongs to a professional order such as the Quebec CPA Order.  Membership in this order certifies that your accountant receives continuing professional development and is therefore up to date on the latest changes to the law. Furthermore, it guarantees you recourse in the event of professional misconduct, which is a significant benefit.

The corporate accountant you choose must also be well-versed in the accounting and business tax return software that is a fundamental component of their work. These efficient software programs are easy to use and provide automatic updates of all legislative changes.  With them, you can send data electronically and access your previous tax returns, speeding up the filing process and saving you time and money.

The corporate accountant’s experience

It’s often said that experience is the best teacher. It goes without saying that an experienced accountant will be more comfortable answering even the most detailed tax return questions. The same is true when it comes to tax advice and strategies for your business. A junior accountant may be less expensive and know a few tricks to help you pay less in taxes, but the risk of errors and omissions will be greater.

An experienced accountant will also have a large network of contacts, including various professionals such as financial planners, bankers, lawyers and other tax specialists who will be able to complement their expertise. It’s important to understand that even the best corporate accountant doesn’t know everything. However, they should know enough to surround themselves with other experienced professionals that they can direct you to if necessary.

Building trust with your corporate accountant

A good working relationship with a corporate accountant needs to be built on trust. Cultivating this relationship is essential, because you will need to trust your accounting professional with important confidential information.

Qualities to look for in an accountant include availability (the way they respond to your requests and the time it takes them to answer your emails and phone calls) and willingness to provide you with concrete support. If you find that your accountant is not attentive enough to your needs or feel as though you’re bothering them with every request you make, you are in no way obligated to continue working with them. Remember that as an entrepreneur, your time is a precious resource.

Where to find a good corporate accountant

Now that we’ve covered the main criteria that make a good corporate accountant, let’s take a look at where and how to find one. There are many ways to do this, from recommendations to internet research. No one method is inherently superior—it’s simply a question of choosing the way that works best for you.

Finding an accountant directly

In most cases, an entrepreneur or business owner in a situation similar to yours who is satisfied with their accountant will be able to recommend them to you. Then, it is simply a question of verifying their skills, experience and values in order to determine whether they meet your needs.

Sometimes, a name might come to mind if you take the time to think about it. Whether it’s through your network of immediate contacts, a group of entrepreneurs or one of the professionals you work with (banker, financial planner, lawyer), someone you know could have just the accountant you’re looking for! Referrals are one of the most important resources in the business world.

If you’re new to the area, chambers of commerce and entrepreneurial support centres can help you find a corporate accountant as well as providing guidance on other things, such as how to choose your business structure. These organizations usually have excellent contacts in the surrounding area.

Finding an accountant on the internet

Today, the Internet is an infinite source of information. You can find the answer to almost any question in just a few clicks. There are plenty of websites and blogs you can use to guide you in your search. Don’t hesitate to make the most of them to help you find a professional that meets your expectations. We recommend starting your search with these websites:

  • The Yellow Pages can provide lists of accountants in the city of your choice under various categories.
  • Google Maps can help you find an accountant nearby and will show you how to get there.
  • The Quebec CPA Order has a directory of chartered professional accountants to provide you with high-quality service supervised by a professional order.

T2Inc: a comprehensive online solution for your corporate accounting

Choosing an accountant that suits you and your specific needs is essential for the well-being of your business. Whether you require accrual-basis or cash-basis accounting, you’ll need to enlist the help of a professional. Before settling on an accountant, tax accountant or accountant specialized in business, try them out! Ask them questions, find out about their skills, and consider your options carefully. Your business will be better for it!

It’s worth noting that there are also hybrid solutions for filing your corporate tax returns in Quebec. T2Inc.ca’s online solutions provide first-rate accounting software along with access to accounting experts, saving you time and money. Contact us and get support from our specialized corporate tax accountants.

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