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Five reasons to hire a professional for income tax preparation

Tax Preparation Mississauga ON

Individuals and companies thinking about their income tax preparation wonder if they should hire a professional. While there are many websites that help individuals prepare their own taxes, many find that it’s worth the small investment to hire a professional.

At the Miranda Professional Corporation in Mississauga, our team helps individuals and business prepare their taxes. If you are trying to decide if you should hire a professional, consider these items:

  • It saves time: If you have done your own taxes in the past, you know it can take a significant amount of time, especially if your taxes are complicated by owning a business, making large gifts, buying or selling real estate, or many other factors. While you’ll still need to gather and organize your documents, this can be done throughout the year.
  • You could miss something: A professional has more experience and knowledge than you do. Tax laws change frequently. Therefore, working with a professional ensures that your taxes take advantage of the most recent deductions available.
  • Representation if audited: Many accountants will help you work with the Canada Revenue Agency if you’re audited. While this won’t assuage any errors, it can speed the process.
  • The cost can be deducted: Tax preparation is a business expense and can be deducted against the business income.
  • It can help you make financial decisions: Perhaps one of the biggest advantages is that a professional team can help you make decisions that will minimize taxes and maximize credits. With a professional team, tax planning is not a single event, it’s a process that includes review of previous tax returns, an assessment of reporting requirements, and strategic planning.

For more information about tax planning and preparation, call Miranda Professional Corporation today.

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Joseph M. Miranda, B.Comm, CPA, CMA

Joseph M. Miranda, B.Comm, CPA, CMA

Miranda Professional Corporation

Miranda Professional Corporation is committed to finding efficient and innovative solutions for all your business requirements. With over three decades of expertise in the field, they are knowledgeable in accounting, bookkeeping, taxation and managing businesses for small and medium enterprises in the Greater Toronto area.

Joseph Miranda is a qualified charted accountant and a certified management accountant with a bachelor's degree in commerce from the University of Toronto. After gaining expertise in the accounting field he advanced his passion by obtaining knowledge on information systems and developing a software application to create more efficiency in financial reporting functions.

The entire staff at Miranda Professional Corporation carries the same passion for helping people obtain the best means to manage their business and personal affairs by providing accurate knowledge to support their financial decisions.

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