Here are some of the most common questions we get asked:
Definitive Wealth is a licensed, full-service Chartered Professional Accounting (CPA) firm based out of Vancouver, B.C. Specializing in Canadian personal and corporate tax return preparation and tax planning, we work with individuals, entrepreneurs, owner-managed businesses, and corporations to help them manage, navigate, and understand their Canadian tax obligations.
When you hire a Chartered Professional Accountant (CPA), you are employing someone with years of accounting and tax experience. Canadian CPAs are required to study and pass rigorous examinations to earn their designation. CPAs are also required to engage in ongoing professional development and are closely monitored by CPA. Allowing a CPA to focus on the numbers means that you can refocus time and attention back on your life and your business!
Learn More About Why You Should Hire a CPA at Definitive Wealth →
We are definitive in everything we do. Clear, transparent fees and practical, expert advice. We know that we grow when you grow, so we focus on building a long-term, mutually-beneficial relationship with you.
When you work with Definitive Wealth, you can expect that:
We will provide timely, personalized accounting and tax advice that is cost-effective, practical, and tailored to your situation.
We will strive to make tax understandable. Let us deal with all the nuances and intricacies of Canadian tax and interpret it for you.
We will take the time to understand your needs or your business' needs. We understand that you hire us for business advice, not just tax advice.
We will work hard to help you grow and succeed. We know that we grow when you grow.
Learn More About Why You Should Hire a CPA at Definitive Wealth →
Definitive Wealth specializes in Canadian personal and corporate tax return preparation and tax planning.
We work with individuals, entrepreneurs, owner-managed businesses, and corporations. We work with clients of all sizes from local owner-managed businesses to large, multi-national, publicly-traded corporations and across many industries including technology, film, real estate, manufacturing, digital media, and insurance.
At Definitive Wealth, we focus on building a long-term, mutually-beneficial relationship with you. We know that we grow when you grow, so we focus on providing up-front pricing, practical advice, and timely responses. To do this, we employ a 5-step process to onboard clients and deliver on engagements.
Canadian CPAs are required to engage in ongoing professional development that are closely monitored by CPA. Definitive Wealth actively participates in and delivers accounting and tax workshops.
Absolutely! If you suspect that your tax return has been prepared incorrectly, we are happy to review your tax return, provide suggestions, and make amendments to your incorrectly filed schedules and forms.
Our fees are based on several factors, including the time spent and the nature of the work performed. Following our complimentary consultation, we will provide you with up-front pricing that you can agree to before we start work.
Definitive Wealth offers competitive rates. Tax preparers (even those at the mall around tax season) may not be licensed CPAs and may not necessarily offer better rates (particularly if your tax situation is complex).
It depends.
For individuals, the CRA outlines a number of circumstances where a T1 personal income tax return is required: https://www.canada.ca/en/revenue-agency/services/forms-publications/tax-packages-years/general-income-tax-benefit-package/5000-g/income-tax-benefit-guide-general-information-identification-elections-canada.html#FileReturn. You may wish to file a T1, even if you are not required to do so, in order to qualify for certain credits (e.g. the GST/HST credit).
Canadian corporations are generally required to file a T2 corporate tax return, regardless of whether the company is profitable or not.
If you’re on our website, that's a fairly strong indicator that you are looking for more from your existing provider! If you are not getting tailored advice, personalized service, or timely responses, it's probably time to seek out a new advisor.
Let’s talk about how we can help you!
A good accounting or tax advisor can make accounting and tax seem a lot less scary. They can proactively bring you recommendations to save money and optimize your tax situation, help you avoid year-end surprises, and enable you to act with confidence when undertaking significant life or business events.
Many companies hire CPAs when it's too late (e.g. when they're under audit or when they're trying to sell their company) and errors are even more costly to fix!
Learn More About Why You Should Hire a CPA at Definitive Wealth →
No worries! Let us help you get caught up! Interest and penalties can accrue quickly so let us resolve this for you as soon as possible!
Yes. You can make adjustments to your previously filed tax returns and we would recommend doing so as soon as you become aware of an error. Definitive Wealth can assist you with this.
Feel free to contact us by e-mail (richard@definitivewealthcpa.com) or by filling out the form on the Contact Us page.
Your safety is a top priority for us and we do provide remote services. You are able to safely and securely transfer or e-mail your documents to us and we can meet with you by video conference or phone call. For in-person services, Definitive Wealth will take safety precautions such as wearing a mask and practicing physical distancing.
Contact Richard Wong (President & Owner) at richard@definitivewealthcpa.com.