Even accountants will tell you that you don’t need them for every type of tax return. If your income tax return this year consists of a single T4, an at-home tax program will probably do the trick and will save you money. However, there are certain situations that can make your tax return a little more complicated. This is when you will want to hire an accountant to make sure you are not only doing everything correctly but that you are also getting the most out of your return.
If any of the following applies to you, consider taking your taxes to an accountant this year:
- Self-employment
- Commission based income
- Selling a property
- Rental incomes
- Significant investment income
Benefits of Hiring an Accountant for Complex TAX Returns
- More money on your return: accountants understand the tax landscape, which means they are able to find deductions and/or credits that you may have missed.
- Planning strategies: have a question about a possible investment? Maybe you’re thinking about a new job. Whatever the question, your accountant can offer expert advice.
- Peace of mind: reputable accounting firms offer liability insurance to protect you from any penalties or mistakes made on your return.
Our Edmonton and Calgary personal tax accounting teams at Liu & Associates can turn your complex tax return into a simple process. If you are looking for tax advice, or someone to handle your income tax return this year, give us a call. We have locations in Calgary and Edmonton to serve you better.