Fee for services
– The semi-automated invoicing is based on the complexity of your tax return, which in turn is based on the number of slips submitted, schedules used, tools and spreadsheets required by client, timeliness and quality of client files, documents and information submitted, number of emails (average 10/hr.), telephone calls, along with the time spent with the client.
– All invoices are due and payable upon presentation of invoice.
– Note that while fees for the preparation of personal tax returns are not deductible, those for rental properties & businesses are fully tax-deductible.
*(Please read the detailed information below and note that I cannot provide any quotes for new clients due to the unpredictable nature of new engagements.)
*(All engagements for the revision and analysis of information from the Phoenix pay system will be invoiced at the rate of $200/hour. 1.5 to 5 hours per year is usually required.)
Fee structure has two components :
Consultation Fees :
The first component is based on an hourly fee schedule for in-person consultation time with the client, communications (calls, emails, etc…) and repetitive deliveries.
– The invoicing policy for accounting and tax services is based on an hourly rate of $150/hour for personal tax preparation, and $180/hr. for tax & accounting services for T1135 (foreign income), employment expenses, rental properties & businesses (last 2 are tax deductible). Hourly rate is $175/$200 hr. for all services relating to tax years prior to 2022. Individual consultations (outside of tax preparation) in regards to pensions, payroll, accounting, etc… will be billed at the $200/hr. rate.
– Fees are applicable for the time spent to process and provide you with the necessary professional accounting and income tax services required. Note that the time required, and consequently the fees, are usual higher for the first year of service to open client’s files, set up the required CRA authorizations and to account for the client’s & accountant’s learning curves.
– Billable time will be applicable for emails (after the first 2 sent and/or received) at a rate of 10 emails per hour of service, telephone calls (over 5 minutes), travel and research time required.
– Minimum charge of 30 minutes per consultation per person.
Preparation Fees :
The second component is based on an automated charge schedule to accounts for the review, analysis and processing of tax return slips, schedules and forms.
Personal income tax return:
preparation fees start at $120* for slips & schedules plus the consultation time spent with the client for a basic (one T4 slip) Ontario / $135* for a basic (one T4 slip) Quebec income tax return. You are encouraged to seek our services in January, February and May, when there is a lot more availability than when operating at full capacity in March and April.
Employees (commission or salaried) with employment expenses (with a T2200 form):
start at $250 for slips & schedules plus the consultation time spent with the client.
start at $325 for slips & schedules plus the consultation time spent with the client.
Self-employed professional, sole proprietor and unincorporated small business:
start at $450 for slips & schedules plus the consultation time spent with the client.
Incorporated professional and business:
start at $950 for schedules plus the consultation time spent with the client.
– Client is responsible for supplying adequate and all client information, records and systems without or with minimal delays. Note that all documents will be return to the client at the final consultation without any exceptions.
* New Clients: tax return preparation fees include a free 15 minute initial consultation and a free 15 minute final review consultation for all new clients (per family). An hourly fee will be applicable thereafter. All fees quoted are excluding the HST. Hourly fees will be applicable for repetitive document deliveries and visits.
** Note that a retainer fee for services to be rendered will be required per year per client / couple for all new clients for their first year. A minimum deposit amount equivalent to $150 + HST for an individual, $300 + HST for a couple for personal tax preparation, $350 + HST for rental property & business tax preparation and $450 + HST for corporate tax returns will be required. Please forward the e-transfer at least 24hours prior to the initial consultation.
*** Cancellation policy: 24 hour cancellation is required for appointments; otherwise a fee equivalent to 1 hour of service will be invoiced to the client without any exceptions.
Residential pick-up and delivery fee schedule:
- One-way: $40 additional charge
- Pick-up and drop off: $50 additional charge