Introduction

Most business owners in Quebec assume that if their taxes are filed and their books are “done,” their accountant must be doing a good job. But filing compliance is not the same as saving money. A great CPA identifies tax opportunities, improves cash flow, reduces audit risk, and supports long-term financial strategy. A weak accountant simply processes transactions. This guide explains how to measure the real value your accountant is providing and whether a CPA near you in Montreal could save you far more than you’re currently paying.

Legal and Regulatory Framework

Under the Income Tax Act, the Taxation Act of Quebec, and professional CPA standards, accountants must:
• Maintain accurate books and records
• Prepare compliant tax filings
• Ensure proper GST/QST reporting
• Document adjustments and accounting treatments
• Follow Canadian GAAP or ASPE for financial statements
• Provide guidance consistent with CPA professional standards

A CPA has legal obligations to competence, ethics, documentation, and transparency — obligations that unregulated bookkeepers or “tax preparers” do not have.

Failure to meet these requirements can lead to:
• Overpaid taxes
• Missed ITCs/ITRs
• Denied deductions
• Payroll and GST/QST penalties
• Reassessments by CRA or Revenu Québec
• Cash-flow problems from weak financial planning

Key Court Decisions

Courts have repeatedly ruled that:
• Business owners are responsible for their accountant’s mistakes
• Lack of professional diligence can result in denied deductions
• CRA can reassess several years when books are inaccurate
• Incorrect advice from an unregulated preparer is not a legal defense
• CPA-level documentation carries more credibility in disputes

These decisions reinforce the importance of working with a qualified professional.

Why CRA and Revenu Québec Target Underperforming Accounting

Tax authorities often discover:
• Missing or incorrect GST/QST filings
• Deduction claims unsupported by receipts
• Misclassified expenses
• Unreported income due to poor bookkeeping
• Inaccurate depreciation schedules
• Incorrect payroll remittances
• Personal expenses recorded as business expenses

When filings look inconsistent, auditors investigate the accountant’s practices — and the business owner pays the price.

How to Measure Whether Your Accountant Is Really Saving You Money

1. Are you receiving proactive tax planning — or just tax filing?

A CPA saves money by:
• Planning RRSP or corporate allocations
• Timing income and expenses
• Using tax credits strategically
• Advising on incorporation, dividends, or salary
• Reviewing multi-year tax strategies

If your accountant only contacts you at tax time, you are likely losing money.

2. Do your books reconcile monthly?

Professionals reconcile:
• Bank accounts
• Credit cards
• PayPal/Stripe/shopify payouts
• Loan balances
• Inventory adjustments

If your books never match your bank, taxes are almost certainly wrong.

3. Are you maximizing GST/QST ITCs and ITRs?

Many businesses miss thousands per year because of:
• Missing receipts
• Improper tax coding
• Incorrect supplier GST/QST validation
• Mixed personal/business expenses

A CPA ensures every eligible credit is claimed.

4. Does your accountant identify industry-specific deductions?

Examples:
• Home office for consultants
• CCA for contractors
• Inventory valuation for retailers
• Medical receipts for professionals
• Meal/transport calculations for travelling sales staff

A generalist or inexperienced accountant cannot optimize niche deductions.

5. Have you avoided audits — or survived them easily?

A strong CPA:
• Files accurate returns
• Avoids red-flag inconsistencies
• Prepares audit-ready documentation
• Represents you before CRA/RQ
• Defends deductions with technical support

If you live in fear of an audit, your accountant is not doing enough.

6. Do you understand your numbers?

A CPA explains:
• Cash flow
• Margins
• Break-even point
• Forecasts
• KPIs
• Pricing implications

If you don’t understand your financials, you cannot make profitable decisions.

Mackisen Strategy

At Mackisen CPA Montreal, we focus on saving clients money by:
• Conducting tax optimization reviews
• Improving bookkeeping accuracy
• Recovering missed GST/QST credits
• Identifying unclaimed deductions
• Fixing payroll, CCA, and GST/QST issues
• Building financial dashboards
• Running multi-year tax projections
• Correcting past errors
• Reducing audit risks
• Guiding business owners with strategic financial advice

We deliver measurable value — not just data entry.

Real Client Experience

A Montreal contractor thought his books were “fine” until CRA launched an audit. We discovered his previous preparer missed over $8,000 in ITCs and had misclassified expenses. After corrections, his refund was significantly higher.
Another client, a retail shop owner, switched to us after years of inconsistent bookkeeping. We rebuilt her financials, reduced errors, and improved her profitability by showing how to adjust pricing and cut unnecessary costs.

Common Questions

How do I know if my accountant is doing a good job?

You should see savings, proper documentation, proactive advice, and clear financial explanations.

Can a CPA review my books even if someone else maintains them?

Yes. A CPA can perform a review and correct existing issues.

Do all accountants offer the same quality?

No. Only CPAs are regulated, trained, and required to follow strict professional standards.

Can switching CPAs really save money?

Absolutely. Many clients recover thousands in missed tax savings after switching.

Why Mackisen

With more than 35 years of combined CPA experience, Mackisen CPA Montreal helps business owners evaluate the effectiveness of their current accountant, improve accuracy, maximize savings, and gain clarity. We provide high-value strategic guidance that supports compliance, profitability, and long-term success.