Your Own CRA Agent, Is It worth It?

Whether you’re starting a new business or have been in business for a while, you know how much of your time and mind space day-to-day operations occupy. You are constantly pulled in different directions, and you’re usually called away from what you’re most passionate about – your actual business. But sometimes, getting sidetracked can be big trouble, especially if you’ve neglected your CRA agent duties. At Leonard Tam Professional Corporation, we can take the headaches off your plate and free you up to do what you do best.

Can You Do It Yourself?

Well, you could. The question becomes whether you should. Often, business owners mistake a bookkeeper with an accountant, but there are distinct and crucial differences.

Bookkeeping

A bookkeeper, for the most part, does the entering of a business’s numbers and even creates a routine of reporting. Other bookkeeping tasks a business owner may do themselves include:

  • Reconciling bank statements
  • Invoicing customers
  • Making vendor payments
  • Processing accounts receivable
  • Running payroll
  • Creating reports
There are great software programs that allow you to plug in numbers, and then they will pop out a standard report. All of these tasks are great and can keep you organized. What none of these things will do, however, is keep you out of hot water with the CRA nor analyze and help you strategize for a brighter fiscal future. An accountant can do all of those things and more.

Accounting

When you hire a professional CPA, you’re hiring a higher level of professional skill sets. A great, comprehensive accountant can act like the CFO of your business, helping you stay on track to goal by analyzing your numbers and ensuring everything is accounted for.

Taxes

Where a bookkeeper can help you gather all the paperwork you need to file your taxes, you really need an expert to work as your own CRA agent to actually file them. At Leonard Tam, we understand tax law. We also know everyone should pay their fair share of taxes, but we don’t want our clients to pay one penny more than that fair share. We’re always up to date on changes to tax code and how we can make tax time less painful.

We don’t just prepare your taxes – we actually present you with strategies for your entire year to maximize your money and avoid losing out on many tax-saving opportunities. We help you make good decisions all year long and avoid costly mistakes that can result in penalties.

A little behind on your taxes? That’s OK, we can help. Over 28 years, we’ve come to realize that whether you own a large corporation, small business or are just an individual, life happens and can sometimes get in the way of your best intentions. We can help you immediately address this and correct it, all without judgment. We’re here to help you, not make you feel worse!

What We Can Do for You

At Leonard Tam Professional Corporation, we’ve built a successful business of keeping our clients in successful businesses. If you’re just starting out, we can help you with business consulting to make sure you fill out the right forms, register with the right agencies and get started on the right foot.

We help well-established businesses get out of and/or stay out of financial trouble. From acting as your own CRA agent to analyzing expenditures for last year and identifying blind spots that caused you financial hardship, we can do it all. If you’re ready to have a professional team work just as hard for you as you do for your business, contact us here or call (437) 500-6494 or to schedule a consultation.

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