Every citizen or non-citizen of a country living in that country with a work permit needs to pay certain taxes to the government in order to show that the person is a part of the economic process. The government uses the taxes coming from the people in order to initiate development projects for the people.
Tax Paying Is Not Easy In Canada Especially for Expats
Expats often find it very difficult to pay taxes in Canada because they are not used to the taxation procedure. If you have a small job, then paying your taxes may be easy because there are not many things to maintain and you are mostly exempted from big taxes. But if you have a business or a well-paid job then you will come under the category of people who are liable to pay bigger taxes.
These people need to prepare their taxes carefully and getting it done by an experienced CPA can lead to the savings of some money as well. Expats often face difficulty because of fraudulent companies which don’t help them much with their taxes. This is why I always make sure to hire a certified and authentic Expat tax CPA in Canada.
Here Are Some Things To Avoid While Filing a Tax
Always Check Your Tax Return Form
When your CPA asks you to sign the tax return form, always make sure that you go through the details of every deduction with him in order to make sure no extra amount is being deducted and also see how things were calculated in general. Never sign a blank tax return form as it can be used in different frauds against you.
Make Your CPA Sign The Form
Every tax CPA in Canada has its own tax identification number> make sure your tax preparer signs the document above your name and mentions their PTIN on the paper so that things are sealed in an official manner. If your tax preparer does not have a PTIN that means something fishy is happening.
Understanding of The Refund
You need to know how to get your refund. For this, you have to make sure that your bank’s routing number and your bank account number are correctly submitted on the tax return form. This is a must if you wish to get your refund by direct deposit. Good companies like Protax consulting services will always emphasize these small details in order to make sure that you don’t have to face any trouble later on.
Discuss The Fee Charges Before Hand
Not just in Expat tax preparation cases but in all kinds of bargains related to money, you need to make sure that you discuss the fee process beforehand. If CPA suggests charging by the percentage of the refund you get, then this is a red flag! The usual way is to pay a flat fee and no percentages because that way you may have to pay way more. There are also various free tax preparation services but beware of them because they may be scammers.
