As crypto continues to gain more of the Canadian market, it’s important to have the necessary information when it comes to taxes.
If you’re not comfortable with doing crypto taxes, it might be worthwhile to look for a crypto accountant in Canada. Fortunately, there are plenty of options available.
But how do you know which crypto accountant is the right one for you? Let’s go over some ways you can evaluate and discover the best crypto accountants in Canada.
Here are some factors to think about as you look for a reliable crypto accountant in Canada.
Is the accountant registered with the CSA (Canadian Securities Administration)? Do they have the necessary licenses and certifications to provide the support you need for completing your crypto taxes?
All accountants in Canada must meet specific standards and are subject to all CSA regulations. Find one that meets these requirements.
Look around for references from current or past clients. If the responses are overwhelmingly poor, it might be wise to steer clear. You might also ask other cryptocurrency investors and traders who they use.
Chances are good you might hear the same name multiple times if they have a good work ethic.
Are they knowledgeable about crypto?
Your accountant doesn’t have to know the ins and outs of leverage and futures trading but they should be able to easily explain how crypto taxes work in Canada.
Check out their website or blog page so you can get a good idea of their knowledge and expertise within the industry.
Before you sign on with an accountant, it’s important to discuss their fee schedule up front. You want to know you’re getting what you pay for and that you can afford it. If your accountant isn’t upfront about their costs, either demand a fee schedule or move on.
Last, but not least, schedule a time to sit down and talk with an accountant. It doesn’t have to be in person – a call or video chat will work.
Discussing your needs and what the accountant offers is a good way to determine if they are a good fit for your needs.
Now that you know how to find a good crypto accountant in Canada, let’s take a look at some of the best options out there.
One of the most popular Canadian crypto accountants is MNP. This firm offers all the crypto services you could want in an accountant. You’ll have access to crypto controls and regulations, crypto accounting, and strategic planning.
It doesn’t hurt that MNP also offers audit standards and reports. That means they’re up to date on the latest requirements and will put your taxes through their own audit to ensure nothing stands out when your tax return gets to the CRA.
2. Forte Innovations
Next up on our list is Forte Innovations. This platform specializes in all things crypto, including swaps, staking, NFTs, and tokens.
Plus, you’ll get all the support and advice you need on your crypto taxes. Forte will provide a thorough and detailed explanation of any questions or concerns you may have.
Forte Innovations not only helps you with your crypto taxes, but they’ll look for ways you can reduce them. Not only that, but the firm will work closely with you while doing so.
They’ll review your crypto transactions and ask detailed questions about any discrepancies or concerns. That way, you’ll have peace of mind knowing your crypto taxes are done right.
Deixis is a crypto accountant in Canada that starts you off with a crypto assessment. During your assessment, Deixis will look for ways to minimize your crypto liabilities in both the current tax year and in years to come.
Plus, once everything is ready to file, they’ll take care of it for you and act as your representative while doing so.
That means if a problem arises with your crypto tax return, Deixis will step in and deal with the CRA. This is true whether you’re dealing with an audit or a dispute.
Plus, Deixis makes itself available to answer all your crypto tax questions. Whether you’re dealing with mining, staking, or a one-off crypto project, Deixis is willing to help.
Another solid crypto accountant is RMI, which is well-versed in all things crypto as they pertain to the CRA.
They’ll walk you through all your crypto questions, including how your mining rewards and hardware should be taxed or whether your passive and active crypto should be taxed as income or gains.
When you get ready to do your crypto taxes, reach out to RMI. They’ll offer an initial consultation, which will let you get to know one another and decide if you’re a good fit.
Tohme-Accounting says that it’s a complete and reliable resource for all your crypto tax needs. The firm is well-versed in blockchain and crypto taxes, so you know you’re working with a professional team that will get the job done right.
Plus, Tohme-Accounting stays on top of any changing laws or regulations in regard to crypto taxes.
You’ll get a variety of options if you go with Tohme-Accounting, all of which can be tailored to fit the needs of you or your business.
With Tohme-Accounting, you’ll have access to crypto tax return preparation, crypto tax compliance, crypto tax reconciliation, and more.
As you can see, when it comes to choosing the right crypto accountant in Canada, there are plenty of options available. Take your time and follow the suggestions outlined above and you’ll have no trouble finding a firm that meets your needs.
Remember, being a tax accountant isn’t a one-size-fits-all situation. You may speak with a few that don’t share the same views as you or your business, but don’t give up. The accountants we listed are just a starting point.
Do your due diligence and you’ll find someone helping you with your crypto taxes before you know it.