Using a professional often means the taxpayer can take advantage of all the deductions and credits to which they are entitled. Besides completing the year’s tax return, an accountant might also offer financial planning. Other tax (GST/HST) or financial advice may be provided by a specialist. However, there is no accreditation by government revenue agencies in Canada of tax preparers.
People commonly hire an accountant or tax expert.
Accountants work in firms. These firms come in different sizes and may be national or local. In addition to these firms, there are also chains that offer tax preparation services.
Some specialize in taxation and have advanced training. And accountants are subject to a code of ethics. Not all accountants are equal. Those designated as accountants are professionals with formal training, including in taxation, and are subject to a code of ethics.
Depending on the complexity of the client’s taxes and the number of hours it takes professional to complete your return, the rates charged could range greatly, from $30 to $1,000 and more. You have to consider the quality of the work, the money saved by getting the advice of a professional and the time spent on it, not just the costs.