The Benefits Of A Good Accountant in Whitby. Ontario
Do you live or run a business in Whitby, Ontario Or Need An Accountant In Whitby?
When you run a business, you probably already have an accountant. But, for some reason, private individuals don’t very often hire an awesome Whitby accountant. When they do get in touch with an accountant, it often means that they have a tax problem that they are finding it hard to solve.
By that time, it is already too late. Sure, your local accountant in Whitby, Ontario can help you with your tax problem. However, if you had hired JTT Accounting from the start, you may not have had a problem in the first tax.
Tax Problems in Canada
There are many reasons why private individuals end up with tax problems in Whitby and other places in Canada.
Tax law (for anyone in Whitby) is not easy to understand. The way it is written is often not very clear. You do really need to be a professional to understand the implications of what is being said.
You are liable for tax on more things that you may think. For instance, you need to pay tax on the dividend of those shares your company gave you as a bonus. If you sell them, you need to pay tax as well.
What about your cryptocurrency investments? Do you need to report that you own them and pay tax? Yes, you do.
As you can see, unless you know all of the in and outs of tax planning, it is easy to get it wrong.
If you are concerned about your personal tax status, JTT Accounting Services in Whitby can help. When you are unsure about any personal financial matters, give our team a call and set up an appointment.
Personal Finance Planning
Should you do personal accounts? The answer to that is yes and no.
The problem is that personal finance is becoming more complicated. Let us give you an example.
You may have a main job that you do during the day. When you come home or during the weekends, you may have a “side hustle.”
When your side hustle is part of your income, you should take it into consideration when you do your annual tax return. Yet, many Canadians don’t report their side hustles. But, even eBay sellers should declare their income from the platform.
Normally, it only becomes a problem when eBay or another platform such as Fiverr submit its accounts.
In general, it is best to be honest from the start and declare that you have another income.
Your Whitby accountant can help you to financially plan for your side hustle and make sure that you have enough money to cover any taxes owed.
An honest Whitby accountant can also help you to financially plan in other ways. Once in a while, it is a good idea to review your personal financial status.
Are you saving for your retirement using financial products? If you have invested in personal financial products and they are not delivering, you should review them.
There are a plethora of investment opportunities that are really good, but there also many that don’t offer a good return on investment.
Your accountant in Whitby may be able to help you find financial products that you can offset against tax. Unless you visit an honest and seriously capable Whitby accountant, you are never really going to know.
Many private residents in Whitby, Ontario fail to appreciate how much a qualified Whitby accountant can help them.
Thinking About Setting Up A Company?
More Canadians than ever before are setting up their own companies or businesses.
Are you thinking about setting up a company in Canada or in Whitby? Before you start your company, speak to an experienced Whitby accountant – which is the best way for you to get involved in business from the start.
A professional Whitby accountant can help you to set up your accounts and incorporate your company.
Setting up a business is all about getting it right from the start. Back tracking and reviewing what you have already done is often costly.
The best advice when you want to start a business in Ontario, is to get in touch with a local Whitby accountant. Your accountant in Whitby will be familiar with both provincial and national guidelines when it comes to running a business in Canada.
Is It Expensive to Hire An Awesome Whitby Accountant?
Most people who hire an honest Whitby accountant save money.
If you think that an accountant in Whitby can help you to save money, there is no reason why you should not set up an appointment.
Yes, listening to your friends’ financial advice is great. But, you need to realize that they don’t always get it right.
Number two, they are not familiar with your personal financial circumstances. Perhaps you have just paid off your mortgage. That means you probably have money you want to invest.
An honest Whitby accountant can give you advice when it comes to investment and how you can reduce your tax liability now that you don’t have a mortgage anymore.
Audit and CRA Compliance
JTT Accounting Services – for anyone looking in Whitby – doesn’t only work together with private residents.
We can also help businesses with audits, stock checks and CRA compliance.
If you are running a company locally, but using an out-of-town accountant, it could be better to switch to a local Whitby accountant. When you need help and advice, dealing with an account near you in Whitby is often easier.
BUT JTT Accounting has tons of experience in dealing with anything from day book-keeping service, payroll to more complicated accounting matters including audits and CRA guidelines.
Final Thoughts
When you would like to know more about hiring a solid accountant in Whitby, get in touch with JTT Accounting Services.
You can contact the team by phone, send an email or fill in the contact form on this website. Try to give the team as much details as you can or feel comfortable with when it comes to personal financial matters.
A team member from JTT will get in touch with you and set up your first appointment. JTT also offers a range of other accounting services including payroll management.
When you need professional help and guidance, all you have to do is to get in touch.