Filing taxes can be tedious. It’s no surprise that 42% of Canadians rely on outside help to do their taxes. Entrusting your shoebox of forms and receipts to a third party feels good!
Making the pain of tax time disappear feels even better! But with great relief comes great responsibility. It’s important to remember that regardless of who files your taxes, you’re the one who is ultimately responsible for making sure they are filed accurately and on time.
This means that to be sure your taxes are being done right, it’s best to be using tax filing software like TurboTax, which not only guarantees accuracy and a simple, stress-free process but also offers expert assistance at multiple levels, every step of the way.
Here’s what you should consider when looking into tax preparation options for this filing season to make sure you’re in good hands.
- Working with a tax preparer with the right knowledge and experience helps you make the most of your taxes.
- Your tax preparer should do more than file your taxes; they should provide guidance for future tax filing and be ready to back you up and stand with you long after you file your return.
- Make sure to have a CRA My Account, track any important life changes, and keep all relevant documents handy when going to a tax preparer to make things easier.
Can anyone help me file my taxes?
Not surprisingly, not just anyone can help you file your taxes. Because of how important tax filing is for Canadians, you have to ensure that your tax preparer meets the requirements to handle your filing without any issues.
Typically, this person should be knowledgeable about the industry, well-experienced in Canadian tax filing, and inspire confidence in their ability to do your taxes right.
In other words, you should only be looking at tax experts for your tax filing needs, like our team at TurboTax Live Full Service. Going through an expert guarantees that your return is optimized and filed with complete accuracy, so you’re getting the best possible return.
Hand off to a tax expert, from start to finish
A real tax expert is typically able to handle the entirety of your tax filing process, and they’re usually able to find various credits and deductions that might be applicable to your situation without any issues.
That being said, you should expect them to have a variety of questions for you to help them get a handle on your unique tax situation. When approaching an expert for filing, make sure you’re ready to provide paperwork and documentation that might be necessary for them to maximize your return.
Is it worth going to a tax preparer?
As long as you’re filing with an expert who can get the job done right, it’s definitely worth going through a tax preparer.
There are several reasons why you might consider going through one. Maybe you’re looking to save time and don’t want to deal with the hassle of tax filing. Or maybe you’re not sure about which new credits and deductions you qualify for and don’t want to miss anything.
You could also just be looking for reassurance from someone with more experience who can tell you if you’re on the right track or not. All of these are valid and perfectly good reasons to approach a tax preparer for your tax filing needs.
4 things to look for in your tax preparer
As we established earlier, your tax preparer should meet some basic criteria before you can be sure they can handle your tax filing. Here’s a checklist to follow when considering your options:
1. They have years of experience preparing taxes
Any tax preparer that offers their services professionally should have plenty of experience with preparing tax returns and should be very familiar with the process.
They should also be aware of less common deductions and credits that can be added to your return to increase how much you get back at the end of the day.
Tax filing experts can easily pick up on potential deductions you can claim just from the details you provide about your filing situation. That’s how you know that their experience and familiarity with tax filing is the real deal.
2. They provide tips to improve your tax outcome every year
A proper tax preparer won’t just stop at preparing you for this season. On top of filing your taxes carefully and accurately, a tax expert should be able to look out ahead for the next year by considering how your credits and deductions will translate into the next year as well.
With real tax experts, you’ll get tips and suggestions for next year’s return as well, such as carry-forward amounts and how to best use any capital loss amounts to offset your gains.
3. They ensure you’re in good hands in case of an audit
A professional tax preparer should be confident enough in their services to back you up when the CRA finds a problem. A true tax expert should be ready to stand by their work and your claim long after it’s been filed and should offer you a guarantee or something similar that they’re willing to handle the legal responsibilities if any issues arise with your claim.
With the tax experts at TurboTax Live Full Service, you get the benefit of Audit Defense, where a tax expert is in your corner and will represent you, defend you, and handle any correspondence with the CRA on your behalf. This means that you can rest assured knowing that your tax filing is fully covered even for unexpected situations like audits.
4. They can walk you through your tax return
Your tax preparer should be ready to educate you on your tax situation. A proper tax expert can provide you with advice and guidance, walk you through the process, and answer any questions and address any concerns you may have.
Having your tax preparer walk you through your return also gives you visibility on how your taxes are being filed, so that you know exactly what’s being claimed and why.
4 steps in filing your return through a tax preparer
Before you approach a tax preparer, it’s best to make sure you have all the details available to save time and help them handle your return properly. Here’s a breakdown of the process you’ll go through to file your taxes with an expert.
Step 1: Sign up for a CRA account.
Signing up for a CRA My Account lets you designate a representative to file on your behalf, which is why it’s mandatory if you want to have someone else file your taxes.
You can also check your outstanding balances, the status of your refund, RRSP and TFSA contribution limits, and update your personal information with the CRA instantly. This way, all of your information is accurate and up-to-date when you file.
Step 2: Have you been through any life changes? Let your tax preparer know.
Life changes are a normal and frequent experience, and that means that they play into your tax situation as well. If there have been any major changes in your life recently that might affect your tax situation, let your tax preparer know.
These changes can include:
- Marriage
- Divorce
- Having children
- Going back to school
- Your kids going back to school
- Moving
- Buying or selling property
These factors may potentially affect how your taxes are filed this year since depending on what’s new, you might be able to qualify for new credits and deductions.
This makes it extra important to keep your tax preparer in the know even for seemingly small changes because it can end up making a big difference in your return amount.
Step 3: Prepare and have all your paperwork ready to go.
Tax filing involves a lot of documentation to back up your filing claim. From T4 slips to supporting documentation for medical and home office expenses, your tax preparer might need to make use of a lot of paperwork to support your filing claim.
Make sure that you’ve kept your records in order throughout the tax fear, and have as much of it on-hand and ready to go when approaching a tax preparer. This will make their job a lot easier, and make it easier for them to maximize your return.
Step 4: Get real tax experts in your corner with TurboTax Full Service.
We understand that taxes aren’t usually number one on your to-do list. If you need a reliable tax preparer, TurboTax Full Service is for you. You can start your return from any place or time on the TurboTax Mobile app for Android or iOS. The tax expert will accurately handle your taxes from start to finish, guaranteeing that you receive the best possible return.
You’re in good hands when you leave your taxes with us.
I especially liked speaking to a representative on the phone and the personal messages I received throughout the filing process. Highly recommended.
Let an expert take taxes off your plate.
Have a dedicated tax expert handle everything, from start to finish.