I already have an accountant

February 28,2018

I already have an accountant!

 

A question that a lot of our clients have is, “Wait a second, I already have an accountant, isn’t that the person who is supposed to be in charge of the tax strategies for my corporation?”

 

A very common misconception with business owners across Canada is the belief that their accountant is responsible to set up corporate tax strategies to maximize their net worth in the future. That is simply not true.

 

By legal definition, an accountant’s job is to keep track of financial records and account for financial statements. While some accountants actually do go beyond their scope of the job and look at different strategies, talk to different disciplines, and manage these, it is not necessarily within their scope. They often don’t have all of the pieces of the puzzle required to bring it all together so that we can utilize every different discipline to maximize your net worth. Our goal is to structure your corporation in a way that allows you to extract earnings with minimal tax implication when you are ready for retirement.