How to pick the right Toronto accountant for your business
If you go to buy a house, part of what you need to look for is a good realtor who can show you the ropes and get you a place you can afford and love. If your car breaks down, it’s a good idea to find a mechanic who understands everything about your particular make and model.
So when you start a business, it stands to reason that you want to find an accountant in Toronto who is professional, can be by your side when your business is first starting out and as it grows. Fair enough, you might say, but how do I sort through all of the different options available?
Here in Canada, you have three different categories to choose from.
Charted Accountants (CA) in Toronto
This is the designation that has global recognition and quite often chartered accountants act as expert counselors to business startups. Remember you will have a million questions when you start and one of the more frustrating experiences for a new business can be trying to sort through the maze of tax requirements. These experts know how to guide you and can help.
Certified Management Accountants (CMA) in Toronto
These professionals have all the experience and technical know-how of the first designation and then some. Their accounting experience is combined with some advanced management skills for those business owners that want to dig a bit deeper into their tax requirements and business planning.
Certified General Accountants in Toronto
These are the Toronto accountant professionals that have a variety of services at your disposal. They are experts at providing insights into financial statements and offer other services like overseeing internal accounting processes.
If you’re a business owner, there are some additional things you should be looking for. For example, if you can find a perspective accountant that has either started their own business or run one in the past, all the better. Quite often that can make the difference between having some hands-on experience in the business world or having just read about it in a journal or textbook.
Here’s another helpful hint that should guide you toward the right accountant in Toronto. Make sure you have a good talk with them about risk tolerance. While it’s good to be creative within the rules, you don’t want to work with someone who is too aggressive and will put you on the CRA’s radar.
We provide accountant services across southern Ontario including: Mississauga, Maple, Vaughan, Aurora, North York, Markham, Scarborough, Newmarket, Toronto, Richmond Hill, Thornhill, Woodbridge, Kleinburg. Call our Toronto accountant today to see how we can help.