Why it is Important to stay in Touch with your Accountant

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I only like to talk to my accountant once a year. Does this sound like something you have muttered in the past? Although you may not find it necessary to contact your accountant on a regular basis, it is important that you do not separate yourself too much throughout the year.

There are many reasons why it is important to stay in touch with your accountant, despite the fact that you may want to put your tax situation behind you until the next deadline rolls around.

 
 

Two Reasons Not to Lose Touch with Your Accountant

1. Your situation can and probably will change from time to time. For example, maybe you have a question about an inheritance. Do you really want to wait until filing your final return to learn more about how this impacts your tax situation? If your situation changes, it is important to run things by your accountant. This will help avoid issues in the future.

2. Laws change. You are not the only one changing. There are many tax laws that you must live by. If you don’t, you are asking to get into trouble with your taxing authority such as the IRS or CRA. It is important to be aware of all changes, as well as how they will effect you.

3. It is safe to say that you will have questions from time to time that only your accountant can answer. You have two options: try to figure things out on your own and hope for the best, or contact a professional who can provide you with 100 percent accurate advice. Which option do you believe to be best?

This is not to say that you must call or email your accountant every time you make a bank deposit. However, it is important to stay in contact when dealing with any situation that calls for professional help.

Remember, it is better to be safe than sorry when it comes to your money.

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