Many people think that accountants only file taxes once a year and that is the extent of the services offered.

There are several other items to consider asking your Accountant Toronto about.

Review Engagements

Licensed Public Accountants in Toronto are able to perform review engagements for clients. This is where the accountant will assess the plausibility of the financial statement amounts and note disclosures. Often a set of financial statements with a review engagement report makes it easier, and may even be required, for things such as obtaining financing for a business.

Payroll

Many Chartered Accountants Toronto can assist with payroll services for small businesses. Often these days though, a small business accountant Toronto will set you up on one of the excellent available payroll cloud providers such as Wagepoint and Rise People.

Tax Planning

A solid Accounting Firm Toronto should also be providing tax planning services along with their corporate tax return preparation. It is important for many clients to minimize takes and be as tax efficient as possible; always ensure to ask your accountant about things like dividends vs. salary planning, investment holding company structuring, and any other items that might apply to your tax situation on an annual basis.