Why use a Tax Profesional
If you are considering doing your own taxes, it really boils down to what's important. It's what you don't know that will cost you.
The Canadian Income Tax Act(1985) is complex. Every year they undergo Federal & Provincial changes that are intended to balance our Budget, Deficit as well as stimulate the economy.
Changes very seldom come with simple rules and a direct change to the tax rates. They are mostly comprised of well disguised deductions, refundable & non refundable credits, surtaxes, Clawbacks, elimination amounts and carry forwards.
At O.B.S. Tax Services, we pride ourselves in the hundreds of hours we spend in continuing education, updates and research in order to ensure that we pay our own bill.
In Fact, Since 1994, we have been able to go back on returns filed by individuals and other firms, claiming credits that exceeded $1.5 Million Dollars for our clients.
Actually, over 80% of new clients found that we saved them more money than our fee's.
Yes, the cost of having a professional prepare your taxes for you, is higher than doing it yourself, or using on online tax filing software. But are you truly saving money?
At OBS Tax Services, our fee's are among the most competitive in the industry, In 2011, Our Average cost for an individual Tax Return was less than $55.00, including all extra's. So compared with an online Tax Software, your cost on average would be $40.00 more.
Last year we saved our new clients aprox $150.00 per client, due to our knowledge on Tax Rules, Credits, transfers and advances, that they were not aware of when they came in. We actually saved our clients Over $100 per person
So What is it really costing you???
How long did it take you to complete your taxes last year?
It is estimated that it took Canadians over 4 hours to complete thier own individual tax return using online software. This included the time to research the correct tax software, Go through thier online questionnaire, Netfile it and print it off.
That is a lot of frustration, for little return. Completing your own income tax returns on paper, or by using online tax software, does not educate you on what you can do to save money and increase your tax refunds.
Our Professionals at OBS Tax Services, will not only complete your tax return,(usually within an hour), but at the same time, we will make suggestions on what you can do to save money for now and in the future.
3. Peace of Mind
Have you ever been in an audit with CRA, While we have!
Every Year, when you have forgot about taxes, Hundreds of thousands of Canadians arrive to thier mailbox to be greeted by a CRA Review request.
In 2019, the Size of a basic Tax Return has increased from 4 pages to 8. They have introduced new calculation's and schedules, the most common of which is the New multistep Calculation of the Canada Pension Plan Tax Credits which affect each and every working Canadian, That alone will keep people up for hours trying to understand it
CRA reviews are part of the CRA ways to ensure compliance with the Income tax act. In todays electronic era, CRA processes your return today, then verifies it tomorrow. Thier method of verification usually requires sumbitting, tax forms, documents, Schedules, Receipts, Proof of identity, residence or education.
At OBS Financial we deal with Hundreds of reviews and Audits annually, all behind the sceens without our clients having to worry about what will happen with thier taxes This follow up is part of our after the service, service. Actually less than 10% of our clients that were affected, are even aware. Let us do the worrying for you.
In order to ensure our accuracy, and make sure you pay the least amount possable we ask that all clients complete our registration forms. New This year are 3 seperate forms, one for New Clients, One for returning Clients and ones for Deceased Clients. Additional Forms may be required based on you answers and Tax Situation