Primary Ways CPAs Help Reduce Personal Taxes

Filing your taxes can be a stressful and complicated process, especially if you are self-employed or have a complex financial situation. If you find yourself dreading the upcoming tax season, it might be time to hire a CPA. Certified public accountants (CPAs) are tax experts who can save you time and money when filing your taxes. Here are some of the ways that CPAs can help reduce your taxes.

1. Finding Applicable Deductions and Credits

A CPA can help you take advantage of deductions and credits that you may be eligible for but are unaware of. Deductions and credits can save you significant money on your taxes by reducing your taxable income. Every citizen is entitled to tax credits or deductions and working with a CPA is the best way to find the ones you are eligible for.

2. Claiming All Eligible Expenses

Many expenses can be deducted from your taxes, but you might not be aware of all of them. A CPA will help you sort through your transactions and determine which business purchases can be used as an expense.

3. Assisting With the Filing Process

Filing your taxes on time is essential to avoid penalties and interest charges. Working with a CPA will help you prepare and file your taxes on time and accurately. Once you have provided your expenses and revenue for the year, an accountant will sift through the data and do your taxes for you.

At HWGCA, our CPAs are experts in personal tax reduction. Our staff works closely with Canadians from all walks of life to help them save money on their taxes.

Located in Surrey (Cloverdale), British Columbia, since 1971, HWG, Chartered Professional Accountants proudly helps clients throughout the Lower Mainland and across Canada.

Our team of chartered professional accountants provides helpful business and personal tax services. Our continued growth proves the success of our client relationships.