A common misnomer in the market place is that anyone can prepare an income tax return because they went to the store and bought a software package. Although many of the software packages available today are very good, they cannot possibly replace the knowledge and education of a professional tax preparer. Consider some of the following:
Can a software application ask you:
- About your children, their schooling or tuition?
- About your rent, education or property taxes you are paying?
- About your health status and what allowable medical expenses you may have?
Can a software application counsel you on:
- The best way to utilize RRSP deductions
- Capital Gains implications of selling a cottage or other real estate?
- Upcoming changes in legislation that could effect your personal tax situation
- Starting a home based business or how to make the best use of business deductions
- The deductibility of employment related expenses
- Transferring of credits or deductions to a spouse or from a dependant
- Credits and deductions you may have missed in prior years
There is no doubt that a Professional Tax Preparer will charge you more than the software costs, but consider this:
A) An individual purchases a software application to do their taxes for $30.00
The individual is thrilled to get a refund of $300
Net Refund $270
B) The same individual takes their tax return to a Your Bottom Line Professional and pays $75.00
The individual is ecstatic to get a refund of $500
Net Refund $425
Where is the better result?
This may not be true in every case; however, do you want to risk being the person who missed out on a larger refund?
Contact us @ 905-259-6997/905-436-6663 or email @ ross@yourbottomline.ws
and
mention this article for a 10% discount on your tax return if contact is made before March 15th