When should a small business hire an accountant?
You don’t need an accountant on day one, but there are clear moments when hiring one saves money and stress. Here are the main triggers.
You’re incorporating
A corporation files its own T2 return and financial statements, and the rules around salary versus dividends, expenses and year-end are more complex than for a sole proprietor. This is the most common point to bring in a CPA.
You registered for GST/HST or hired staff
Once you collect GST/HST or run payroll, you have filing and remittance deadlines with real penalties for getting them wrong. A bookkeeper or accountant keeps you compliant and on time.
Your books are taking your time
If reconciling accounts and chasing receipts is pulling you away from running the business, a bookkeeper almost always pays for themselves.
You want to pay less tax — legally
Compliance filing looks backward; tax planning looks forward. A CPA can structure remuneration, time purchases and use credits to reduce what you owe. That’s where the fee turns into a return.
Frequently asked questions
How much does a small-business accountant cost?
Ongoing bookkeeping is commonly $150–$600/month and a corporate year-end with a T2 return typically starts around $1,000–$3,000, depending on complexity. See our cost guide for details.
Bookkeeper or accountant first?
Most small businesses start with a bookkeeper for monthly records and add a CPA at year-end for tax and statements — often the two work together.
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