Personal Income Tax Accountant Mississauga | Source Accounting (2024)

Personal Income Tax Accountants

Personal taxes can sometimes get too frustrating as they take a lot of your time and effort. Do yourself a favor, and let us take charge. Source Accounting Professional Corporation specializes in handling personal taxes in the most efficient and effective way so you don’t have to face any hassle.

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Our CPA Is Here To Help

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Why Hire a Personal Tax Accountant?

The process of preparing an income tax return is typically quite complex. It’s hard to follow the rules, which change almost every year. That is why you need a competent accountant with sufficient experience and knowledge of tax law.

We at Source Accounting can help you and your family complete and file a personal tax return. We have extensive experience with personal taxes and serve hundreds of clients in Mississauga. We are here to analyze your financial situation and then provide the best solution for you.

What We Can do?

Source Accounting Professional Corporation is a Mississauga-based full-service accounting firm. We offer our clients tax solutions that are comprehensive, accurate, and hassle-free. We specialize in preparing personal tax returns. By preparing your tax return, we can assist you in minimizing your tax liability and maximizing your returns.

Filing taxes should be a straightforward and simple process, but unfortunately, this is not the case. Personal returns can frequently become complicated and time-consuming, and you might be unsure of your ability to complete them correctly.

Allow our CPAs to assist you with the correct processing of returns to ensure compliance with all tax regulations and CRA guidelines. We guarantee to claim the right credits, e.g., charitable donations, employment insurance, Canada Pension Plan, Canada employment, age, medical expense, eligible dependent, spouse, tuition fee, etc., as applicable to your situation.

That’s not all; we also file non-resident and post-bankruptcy personal tax returns in addition to resident personal tax returns.

So don’t hesitate and choose Source Accounting as your income tax accountant Mississauga.

Ready to take your financial goals to the next step? Simply get in touch with us! Sit back, relax, and we’ll take care of everything.

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When You Need a Personal Tax Accountant

Choosing the right bookkeeping services and accountants for your business is one of the most important decisions you will have to make. Here are a few of the many benefits you’ll get by selecting Source Accounting as your bookkeeping firm:

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Employment income

The most common income tax return is filed when the client has a single employment-related source of income. The majority of Canadians calculate their taxes on their own using a variety of tax software, and the process is fairly simple. However, if you require assistance, don’t hesitate to get in touch with us; We are happy to assist and offer the highest quality services.

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Business income

If the clients have income from both their businesses and their jobs, things get a lot more complicated. In situations like these, you need to talk to a professional who will look at everything and figure out the best solution. The tax accountant is the best person to advise you on how to strike a balance between salary and dividends and which expenses are considered personal and which are business-related.

Passive income

It goes without saying that people who have invested in stocks, real estate, or any other source of passive income need to hire a professional income tax accountant to help them with taxes. Such clients already know that they will overpay for taxes if they do not hire an expert. We are certainly able to assist and work with any passive income, so you don’t have to face any trouble yourself.

Personal Tax Accountant Mississauga; Tax Services Minus the Stress

Timely and accurate taxation is vital to the financial management and success of any business or employee. However, not a lot of individuals understand this and constantly tire themselves while filing their taxes and returns. But you don’t need to worry; we’re here to help!

At Source Accounting, we’re a team of professionals dedicated to providing you with the most accurate and reliable income tax services in Mississauga, so your taxes are no longer a stress for you. Our decades of experience giving income tax services span hundreds of individuals from dozens of industries, including IT, real estate, medium-sized businesses, and start-ups.

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Why Choose Us

1. Individualized approach

Personal taxes are as unique as each individual, and hence you cannot have one approach for each one of your clients. Team Source Accounting understands this and offers an individualized approach to each one of our clients. We first analyze your financial and taxation situation to devise the perfect plan for you.

2. Strategic financial planning

A good tax preparation partner doesn’t only help you with your taxes but also gives you future strategies and financial plans for your income to boom and maximize your savings. At Source Accounting, we do exactly that for you! We help you make well-informed decisions regarding your finance, so you achieve your financial goals in the long run.

Boost your tax refunds and minimize the stress by hiring reliable personal tax services Mississauga today!

Our Other Service Areas

Committed to providing premium quality services at a minimum price, we provide professional tax accounting services in other areas too.

Tax Accountants Brampton

Tax Accountants Toronto

Tax Accountants Oakville

Tax Accountants Oshawa

Tax Accountants Etobico*ke

Tax Accountants Markham

Ask Us Anything. anytime.

Our office is conveniently located at Square One, Mississauga

  • 4299 Village Center Ct, Suite 203 & 208, Mississauga, Ontario L4Z 1S2, CA
  • in**@so**************.ca
  • 647-930-8130
Personal Income Tax Accountant Mississauga | Source Accounting (2024)

FAQs

How much does an accountant charge for a personal tax return Canada? ›

$200 - This is our current minimum rate per personal tax return. $350-$500 – Standard tax return with rental properties (T776). $350-$750 – Sole proprietorship (T2125) information. $350-$700 – Standard tax return with various investment slips and capital disposition summaries.

How much do most accountants charge for taxes? ›

Hourly Rates for Tax Preparation

If you opt for an accountant charging hourly, the ideal range is $100 to $200 per hour, with CPA rates falling around the higher end of the spectrum due to their additional certification and expertise.

Is taxation accounting hard? ›

Taxation builds off fundamental accounting topics. Taxation degrees prove difficult for those who do not like math, accounting, or policy.

Do tax accountants make mistakes? ›

Most accountants are ethical and strive to do the best they can for their clients. However, mistakes do happen. If it is their fault, ask them to rectify the situation and provide you with an explanation of what happened.

How much should I pay for a personal tax return? ›

The average fee for Form 1040 with the standard deduction, plus a state income tax return, was $220. The additional fee for Schedule C for a sole proprietor/independent contractor was $192. The additional fee for Schedule D to report capital gains and losses was $118.

How much is an accountant for taxes Ontario? ›

Tax Preparation & Filing Service:

– Basic Personal Tax Preparation Fee – $49.00 per person per year includes one slip. Additional $5 will be charged per slip. – Incorporated professional and business: Starts at $400 for schedules plus the consultation time spent with the client.

Why are tax accountants so expensive? ›

“A lot of older preparers are retiring [and] the client base is expanding, so we need to hire more staff,” said Atiya Brown, a certified public accountant and owner of Dallas, Texas-based The Savvy Accountant. She estimates she and her peers have raised prices by 7% to 12% to offset higher costs for labor and software.

Is a CPA more expensive than H&R Block? ›

As far as an accountant goes, your price can vary widely. However, as most experienced accountants tend to charge anywhere between $40-$400 per hour, you will likely pay more for their services than for either H&R Block or TurboTax.

What do most CPAs charge per hour? ›

On average, CPA hourly rates range from $150 to $400 or more. Experience and expertise play a significant role in determining rates, with CPAs with years of experience in tax planning, financial consulting, or audit services commanding higher rates.

Can I be an accountant if I'm bad at math? ›

You don't need to be a math whiz to be an accountant. Your not going to use Algebra or Calculus to do the job. Attention to detail and being meticulous are more important. Software these days takes care of a lot of the mistakes done years ago on paper.

Which accounting is hardest? ›

What Is the Most Difficult Accounting Course?
  • Advanced Financial Accounting. ...
  • Auditing. ...
  • Taxation. ...
  • Cost Accounting. ...
  • Financial Statement Analysis. ...
  • Managerial Accounting. ...
  • Accounting Information Systems. ...
  • International Accounting.

Is tax accountant stressful? ›

Is it stressful to work as a Tax Accountant? Tax Accountants often face periods of high stress, particularly during tax season when workloads surge and deadlines loom. To manage this, effective time management and staying abreast of tax law changes are crucial.

Can an accountant really save you money on taxes? ›

The Bottom Line. Individuals with a single employer and few investments may save money by preparing their taxes. Those with business income or rental properties will find hiring an accountant worth their peace of mind and potential tax savings.

What happens if my tax preparer lied? ›

If you're the victim of return preparer fraud or misconduct, you'll need to show it to the IRS. If the IRS rejects your claim, you may face additional issues, including penalties, interest and any additional tax liability arising from the fraud or misconduct.

How do I know if my accountant did my taxes correctly? ›

How can I check if my accountant is filing my taxes correctly? The IRS will notify you of any errors. You can download a form from the IRS and do your own taxes if you want. Compare what you did to what your accountant filed.

Do you need an accountant to file taxes in Canada? ›

There's no getting around filing taxes if you live and work in Canada, but how you file your taxes is up to you. You don't need to hire an accountant to do your taxes if you have a simple financial situation and ample time. Plus, there are plenty of free resources if you're on a tight budget.

How much does an accountant cost in Canada? ›

According to Olympiabenefits, The average hourly accountant cost is $275, with a typical range between $150 and $400+ per hour, based on the different variables above. This is the typical range you can expect when it comes to small business accounting fees.

How much does it cost to hire an accountant in Canada? ›

The average hourly price of an accountant in Canada is $150—$400 and up an hour. Depending on the size of your business, getting your taxes done by an accountant in Canada costs about the same. Many factors can affect the price of an accountant, and every accounting firm or individual charges differently.

How much does a CPA accountant make in Canada? ›

Find out what the average Cpa salary is

The average cpa salary in Canada is $95,000 per year or $48.72 per hour. Entry-level positions start at $69,496 per year, while most experienced workers make up to $115,000 per year.

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