Each year, as tax season begins, Smith Falconer Financial Group (SFFG) shares a tax checklist with our valued clients, which we also upload to our website. To make the collection of tax information as efficient as possible, we remind clients of what they need for the timely, effective preparation of their tax returns.

Throughout the year but particularly during this time, we enjoy working closely with our trusted network of accounting professionals. We value building and maintaining strong relationships with these partners, focused on supporting our clients’ best interests.

In collaboration with our clients, we ensure we stay up-to-date with the accountants in our network. From the very first meeting we have with a client, we discuss the importance of our partnership with these specialists, whether we have made a referral or if we have been introduced to an existing relationship.

We wanted to take this time, with tax season approaching, to highlight the benefits of working with an accountant. We were pleased to read in the Globe and Mail this past week that Canadians are acknowledging the increasing demand for tax advice, with a similarly increasing need for CPAs to choose the career path.  The need for tax advice has never been greater.

Similar to investment advisory practices, it is important that clients work with the accounting practice that aligns with their unique situation, whether they are an individual, corporation, Canadian, or dual-citizen.

Tax Returns: Accountants simplify the process of filing taxes each year, ensuring that you are maximizing your tax savings. They help organize and prepare the information required, understand tax deductions and credits, and make informed decisions on financial matters that impact your annual tax liability.

Financial and Estate Planning: Accountants help prepare you and your family for the future, with an understanding of how to optimally manage your finances and estate plans with tax liability in-mind.

Cross-Border Considerations: For individuals who work, own property, or have citizenship in the United States, an experienced accountant can simplify the tax implications that arise.

Changes in filing requirements: When working with a tax professional, you can expect current knowledge of changes that affect your situation. 2024 has introduced new requirements which you may not be aware of!  

These are just a few examples of how accountants have benefited our clients. At this time of year, their efficiency, organization and expertise provides comfort and confidence that tax reporting has been conducted effectively.

We are always happy to facilitate a referral, where appropriate!