Tax Preparation Fees Canada 2018-2019 & 2020
The taxes paid to the government are of different types and includes complexity at different levels. The types of taxes and types of tax filing might differ from the kind of industry that the client is running. A proper date is announced by the government of Canada to file tax. To pay the taxes on time, prior tax preparation is required, and it is the service that our company provides to the clients. If we offer such a service, then there are tax preparation fees charged by the company.
Why do we charge tax preparation fees Canada?
- There are different types of taxes which an individual or the business person pay to the government and every tax filed have a set of rules, so it requires high profile knowledge from the expert in this industry. The Chartered Accountant working on this module have their charges for tax preparation.
- The complexity of tax filing ranges from very low to very high, and it is not easy to overcome the same. It requires lots of documentation and proper maintenance of the account. The process is not so easy.
- There are different software that we work upon for e-filing, and all the software are very highly charged. We prefer to work with the genuine software, so we never break the trust of the client, and their finance is secured in our hands.
- Tax preparation is not a game of a single day; instead, there are many days which are required for the tax preparation. A small mistake in the filing can destroy the hard work of the entire year. Regular meetings are done with the senior personnel.
- The tax which is the client pays is the result of his one-year of his hard work. Every month of the year for which tax is being paid is calculated and documented which means a lot of documentation is required to pay the single tax of one year. We charge income tax preparation fees for our hard work.
Tax preparation fees Canada charged by our company
- We charge between $50-$100 for the preparation of a basic personal tax return 1 T4. The process of own tax filing is easy as compared to other taxes because it depends upon the single income of an individual.
- The tax preparation becomes complex in the case of multiple incomes which means an individual has more than one as a source of income. The fees range from $100 to $1500.
- The next tax preparation that we do is a null corporate tax return, and the charge is $350.
- The last is corporate tax filing in which the tax preparation fees range between $800 – $2,500.
How is Income tax preparation fees Canada divided into the process?
- A set fee for each tax form or schedule
- A value-based fee based on the subjective value of the tax preparation service
- An hourly rate for time spent preparing the tax return
- A set fee for each item of data entry.
There are many companies in the market which will offer the same services in the lesser fees, but you would not get the same format of service that we will offer to you. We have the professional and best tax accountant who will provide you with the following guidance and management in your financial status.
- Helps to manage and monitor cash flow
- Assists in evaluating the performance of a business
- Helps business to be statutory compliant
- Helps to create a budget and future projections
Tax preparation fees are not the charge that the government of the country levies on the citizens of India; it is the for the service that we provide to our clients. It is our hard work and dedication which helps to bring the best out in the market. It is the charge for the professional accountant who will help you in the entire process of tax preparation. A professional accountant is hired so that the burden of financial management is removed and all the formalities are completed on time without any penalties. If we are charging tax preparation fees, then we are giving out the best service in return.