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OMNI ACCOUNTING AND TAX INC.
CHARTERED PROFESSIONAL ACCOUNTANT
WHAT DO ACCOUNTANTS DO, AND DO I "NEED" ONE?
Anyone can prepare and file your tax return, even you!
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Chartered Professional Accountants ("CPAs") have, however, gone through years of education and training which gives us the expertise to find credits or deductions that may be otherwise missed. We look at the big picture of your life.
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Whenever you speak with us, we are listening for potential traps or nuances that could arise in your specific situation. We ask questions to hone in on issues that we pick up on when we listen to your story.
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​​​CPAs in BC are regulated by CPABC. This means that we strive to offer our services with integrity and a high standard of care. We are required to maintain our technical knowledge through annual professional development courses and our file work is reviewed by our governing body every three years at minimum.
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The CPA program is the most rigorous accounting program offered in Canada, which allows us to provide you with in-depth knowledge and skilled expertise. CPAs are required to have a university degree followed by a Master's program level of technical accounting study and a minimum of 30 months of articling/on-the-job training. We must demonstrate that we have sufficient technical competencies before being granted our "letters."
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HOW CAN I TELL IF MY ACCOUNTANT IS A CPA?
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Only CPAs can issue "Compilation Engagement Reports" and we do not and cannot perform any legal services. Accountants that are not CPA-regulated are not bound by our Code of Professional Conduct.
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Confirm if your accountant is a BC CPA on the CPABC website here.
WHAT ARE YOUR SERVICE FEES?
"It depends."
Every business and every situation is unique. OMNI will evaluate your needs and offer only services that are agreed upon. Fees are charged based on standard rates and are reviewed in detail to ensure that you are getting value in our services. You are paying for the years of accumulated knowledge, experience, and education, not the number of clicks to prepare a document.
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Your initial consultation meeting is always free of charge and our service fees are highly competitive.​
HOW LONG SHOULD I KEEP MY TAX RECORDS FOR?
Supporting documents should be kept for 10 years. Even if your return is submitted electronically, keep your records in case your tax return is selected for review by the Canada Revenue Agency ("CRA") at a later date or if we initiate an adjustment to your tax record in the next 10 years.
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Source documents that should be kept include official receipts, purchase orders, bank statements, cancelled cheques, or other proof of your revenues and expenses.
OMNI provides full audit support to both individuals and businesses when CRA requests a review of your file. We keep select copies of relevant information when you submit your documents to us to prepare your tax return and will seamlessly navigate the review process on your behalf as your representative.
Get in touch with us today and see how our accounting expertise can help save you time, effort, and money.