How Does Tax Coaching Work?

First of all, we suggest that you read the article “What Can a Tax Coach Do For Me?” And now let’s take a close look at the whole process of Tax Coaching.

Initial/Strategy Meeting

This is the first and very important stage of your relationship with a Tax Coach. During this meeting the Coach will get an idea about your business – income sources and types of expenses you incur while operating it. He or she will help you to properly categorize those expenses and see what deductions you might be missing. The deeper he or she digs into specifics of your business the more legitimate business deductions he or she will find. It is not a question whether or not you are missing some deductions – even savviest small business owners make lots of mistakes here; we are talking about how much taxes we would recover by discovering those buried gems.

Next important step is to arrange your records. Our Tax Coach will teach you how to properly keep records of your income and expenses, how to create an auto log and/or Daily journal. He or she will help you to choose a right computerized bookkeeping system for your business. The difference between good and poor book and record keeping is overpaid taxes. Period.

Phone/eMail Consulting

After the strategy meeting your Tax Coach will keep in touch with you to monitor if everything goes according to the plan. At this stage he/she will answer all your tax or business related questions and keep you updated on any changes in tax policy. We believe that by offering unlimited phone/email consulting throughout the year we dramatically increase the effectiveness of our Coaching process, which puts us way above and beyond our industry competition.

Tax Return Preparation

This is the final stage of the whole process. Your Tax Coach will receive all the relevant documentation from you and “polish” your tax file. You will then get it back for review and final approval. After all corrections are done and every number makes perfect sense you will sign your tax return, and we will submit it to the CRA (or you could do it yourself if you want to). Our basic $777 Tax package also includes non-business Tax Returns preparation for all immediate family members.