Fees
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Important note:

My fees have dramatically increased as of Jan 1, 2013. 

Process of preparing a return

More importantly, when I prepare a tax return, it's not just a matter of  plugging numbers into a tax software program. Rather, it's a process that includes an exchange of emails to ensure you haven't overlooked any major deductions or credits; consulting the Income tax Act, Canada Revenue Agency Interpretation Bulletins and reported tax cases. Often, I consult with professional colleagues for their views.

Rates

My rates below are based on the minimum time needed to prepare a tax return times my billing  rate of  $180 per hour.

But please note if you require additional consulting time, my rate is $180 per hour.

I no longer offer free consultations. The minimum fee for a initial consultation is $180 plus HST.

Simple returns, slips only

Please note that I have reduced my work hours and can only prepare a few personal tax returns. I encourage you to look elsewhere to have your personal tax returns prepared.

If you are a new client, I will require a deposit.

         personal tax returns: if you just have slips, say, not more than 12,then my minimum fee is $250

for a couple minimum is $500

Returns with employment expenses or self-employed income

Typically, for clients with self-employed income or with employment expenses, my time on the job is at least two hours. Each client has its own unique facts. Usually I look up at least two reported Tax Court cases for each client and report what expenses I  think is deductible, what is challengeable by Canada Revenue Agency, and what may be administratively allowed although not strictly deductible. In most case, before I print out the return, I email an encoded PDF  file of the return, so the client can decide if the return looks OK or whether they should be more or less aggressive with their expense claims.

    *    personal tax returns with a statement of self-employed income, the fee is $350 minimum; if you need a GST return prepared: add $100

         personal tax returns with employment expenses: minimum fee is $350 per single; $650 per couple

         corporate notice to reader financial statements with federal corporate tax returns , minimum fee is $1,500.

If you want a GST return prepared, add another $150. Add another $150 if you need T4's (up to 5 T4's)

         Reviewed financial statements is a whole new ball game. Here, I'm talking about financial statements prepared according to GAAP (generally accepted accounting principles).  You have to realize that because note disclosures-- often running several pages-- are required, because of the many requirements involved in checking this and that, my time on even a simple set of financial statements can easily exceed 20 hours.  So, I  can't charge less than $3,600 per set of  financial statements. The profession has in the past year rammed down our collective throats a ton of new rules that make preparing reviewed financial statements double the job it used to be. 

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Audited financial statements-- my fee starts at $7,500 per set of statements. Normally, I shy away from accepting audit engagements unless I'm fairly comfortable with the arrangement. Whether or not I can audit the statements of any given company depends on any  number of factors.

 

 

 

By the way, all my services are subject to 13% GST. If I have to ship you a parcel, I'll charge you shipping costs as well.

 

January 01, 2013

 

 

 

 

 

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Copyright 2013 B.C. Chastkofsky C.A.
Last modified: January 01, 2013