Frequently Asked Questions

Many clients panic when they see the audit letter from CRA. There is always the chance that CRA might audit your corporation or you personally. Versatile Accounting & Tax is here to help. With our expert knowledge in tax, we can help to communicate with and deal with CRA directly on your behalf. This will create peace of mind for you, as we will take care of all your CRA audit needs.

Not all businesses are handled the same way from an accounting and tax standpoint and having a firm that understands your field is very helpful. For example, if you are a healthcare professional (chiropractor, acupuncturist, physical therapist, psychologist, dentist, doctor or other), your CPAs should be knowledgeable about valuing equipment and accounting for patient receivables.

Our qualified accountants work with various types of industries and businesses, and we have experience across the board in terms of different industries. Karim Bharwani CPA, CA has 10+ years of experience with public practice dealing with a variety of owner-managed businesses. Versatile Accounting & Tax has on-hand experience with various tax situations and accounting issues in multiple types of owner-managed business faces. We encourage you to contact us today to find out more about how we can be of service.

No one likes buying something without first knowing how much it’s going to cost, and we don’t think that you would either. This is why we strive for transparency in our billing process. We will come to an agreement with you on our fees in advance of the commencement of our work. If issues arise that were not contemplated in our original discussions, we will discuss those issues with you as they arise and agree on any associated fees. The result will be a no surprise final billing.

Our approach on any service, in addition to the accounting and annual tax compliance, is to get an agreement with you on scope, timing, and anticipated costs before each particular assignment. Any special services would be subject to pre-approval by you. We do not have a standard fee agreement for this type of work, as the scope of what is required can vary greatly. Please note that we are committed to providing competitive fees and complete transparency, as we strive for what we hope will be a long-term professional relationship with each of our clients.

Yes, Versatile Accounting & Tax can represent and do corporate tax returns for any business, anywhere in Canada.

Most professional firms use email, and many use Skype, teleconferencing, and other online services. At Versatile Accounting & Tax, we are available for you through emails, phone, or one-on-one meetings for all your accounting needs. We prefer in-person meetings clients for initial tax planning discussions, as well as during the finalization of the year-end and corporate tax return. At Versatile Accounting & Tax you will always have direct access to a qualified accountant to answer any of your questions.

Versatile Accounting & Tax is committed to responding to your emails or phone calls within 24-48 hours.

One of the primary purposes of having a qualified accountant is for tax consultation. Once we compile the financial statements, we set up a meeting with clients to go over the numbers, discuss the business processes to improve on, and review tax planning for corporate and for shareholders. We not only look after the tax matters but provide feedback to improve the financial position of the company.

Our clients like to meet us if any complicated tax services need immediate attention or need special services from our qualified accountant. We are committed to our clients, and we are always available when they need us.

Versatile Accounting & Tax is made up of qualified accountants, and as such, we keep ourselves updated on all tax rules. We encourage constant learning in all areas of advanced tax planning. As per CPA rules, we must undergo 20 hours of professional development to keep updated with our knowledge of accounting and tax. We are committed to superior tax planning and minimizing taxes for our clients.

Yes. Versatile Accounting & Tax specializes in reviews and audit engagement. Our qualified accountant has the experience and in-depth knowledge of financial reporting and assurance services. We perform assurance services to various industries, which helps our clients obtain financing from banks.