How to Find the Best Kelowna Accountant

“You’re the first accounting firm who got back to me” is a comment I often hear from new clients.
 

Whether you’ve moved, started a new business, or are unhappy with your current accountant, changing accounting firms can be tough. Why is it so hard to find a great accountant in Kelowna?

You are a responsible, taxpaying citizen looking for friendly service and great communication along with peace of mind around your tax filings and helpful advice every now and then. Is that so much to ask for?

To support you in your search for the best Kelowna accountant, we’ve developed this guide to help you decide who to trust with your personal or small business taxes.  

When picking a Chartered Professional Accountant in Kelowna your first decision is around the size of the accounting firm.

Kelowna accountants range from sole proprietors (one-man bands) to large corporations with 50+ employees and multiple Chartered Professional Accountants on staff. To pick the best Kelowna accountant for you, consider how big your own tax needs are.
 

The more money your business is bringing in the bigger accounting firm you’re probably going to want. A bigger accounting firm will have a variety of departments such as business valuation and estate planning while a smaller accounting firm will offer personalized services and a more comfortable atmosphere to seek advice in.
 

If you are earning more than $500k+ in profits then a large accounting firm can likely handle the complexities of your tax needs without having to outsource to third-party service providers like an estate planning expert.
 

If your business is on the smaller side, then consider a boutique accounting firm like Creekside Accounting. 

Boutique accounting firms also offer knowledgeable services when managed by a Chartered Professional Accountant (CPA, CA) but have the added benefit of being able to assist with the smaller tax questions and bookkeeping inquiries that many small business owners face. A small accounting firm can also provide personalized advice to help you keep things organized while paying less tax. A great benefit for any business owners. 

A boutique accounting firm like Creekside Accounting that specialize in small business taxes may be able to find additional tax deductions or write-offs that bigger accounting firms may be less familiar with. 

How complex are your taxes? 

After 10+ years of working one on one with Canadian small business owners, I’ve learned that everyone’s taxes are ‘simple’. To help shed some light on this mysterious area of tax, let’s talk about what complexity really means. 

Tax complexity is:

• Foreign tax issues: foreign property ownership like real estate, non-resident taxpayers (those living outside of Canada), and those immigrating (or emigrating)

• Multiple corporations: ownership of multiple corporations and multiple business operations adds tax deduction issues and tax complexity to regular filings.

• Complex tax planning needs: Trust (T3) or estate planning along with deceased taxpayer returns are a more complex type of tax service that needs expert advice.

These are complex tax situations because they require ultra specialized tax training and come with a whole host of unique tax rules that most Kelowna accountants may not be comfortable with. 

If any of the above situations sound like you, then a larger accounting firm is the right choice for your tax needs. 

Other situations like rental properties, employment expenses, and small businesses aren’t ‘complex’ in the tax sense because they don't require specialized tax training like estate planning does. 

This doesn't mean small business taxes are simple. These returns can still significantly benefit from professional services; but, it is nice to know that most Kelowna accountants who are designated Chartered Professional Accountants (or CPA) will be able to assist you. This is because small business tax situations are really common in Kelowna with the Okanagan being a 'hot-bed' for entrepreneurship. 

Only taxpayers with very simple situations like basic employment forms and RRSPs contributions should reach out to Kelowna accountants who are not CPAs. Any more complex and you could be surprised to find unnecessary taxes owing and CRA audits popping up in the future. 

The last thing you’ll want to consider when picking a Kelowna accountant is technology comfort. 

Different accountants in Kelowna will use technology in different ways and have different requirements for their clients. Some questions to ask yourself when deciding on a CPA:

• Do you want to be communicating mostly through email or do you prefer phone calls?

• Do you like to use portals and e-transfer document services, or would you prefer to drop physical paperwork off?

• Do you enjoy online booking and self-serve website options, or do you need to hear a human voice before setting up an appointment?

• Do you like e-signature services or do you need to put a pen to paper before signing your tax returns?

Your own comfort level around technology should help drive your decision around the right accounting firm for you. Here at Creekside Accounting, we are a younger accounting firm that embraces technology options as much as possible. This helps make life easier for our busy small business clients but can be a turn-off for those used to a more traditional relationship with their Chartered Professional Accountant. 

When reviewing your options, find an accounting firm whose website and service options match your own technology comfort level. This will help ensure you are happy with the services you receive over a long period of time. 

I hope this article has been helpful and will speed up your search to find your perfect Kelowna accountant. Picking an accounting firm that matches the size and complexity of your tax needs along with your own technology comfort level can mean a great fit and a prosperous relationship spanning years. 

Don’t settle for just any Kelowna accountant. Taking the time to find your best tax advisor and business ally can mean improved financial health and well-being for yourself and your family. 

If you are an individual who is a pleasant and responsible small business owner looking for friendly service and great communication along with peace of mind around your tax filings and helpful advice from time to time, then consider Creekside Accounting. 

We may just be the best Kelowna Accountant for you.

Written by Kelowna Accountant: Jillian Battaglio, CPA, CA. Team Leader and Firm Owner of Creekside Accounting.