FREQUENTLY ASKED QUESTIONS

The Answers You Need

HOW LONG WILL IT TAKE TO GET MY WORK COMPLETED?

It does vary somewhat depending on the type of work required. More complex projects may take a little longer than the average.


For routine tax and accounting work, we strive to have the completed documents to the client within 10 business days of receiving a complete list of required information.


Much of the time we are able to exceed this estimate and clients typically rate us very highly for quick turnaround time.

HOW LONG DOES IT TAKE INSITE CPA TO RETURN PHONE CALLS/EMAILS? I HAVE HAD ACCOUNTANTS IN THE PAST THAT WERE HARD TO GET HOLD OF AND IT CAN BE FRUSTRATING.

We love our clients and we love working with them. We don't see our clients as an intrusion on our day, we see our clients as the highlight of our day!


At Insite CPA you always speak to a live person when you call, never a voicemail.


If the person you need to speak with is unavailable, they will almost always return your call within 3 hours.


Emails are also addressed within this same 3-hour window.

WHAT IS THE DIFFERENCE BETWEEN AN ACCOUNTANT AND A BOOKKEEPER?

A bookkeeper puts all of the transactions into the accounting software.


An accountant takes the information supplied by the bookkeeper and completes the financial statements, tax filings, and any tax or financial planning.


The best accountants have a professional designation like the CPA.

YOUR SERVICE INCLUDES FINANCIAL PLANNING, DOES THIS MEAN INSITE CPA WILL BE TRYING TO SELL ME INVESTMENTS ALL THE TIME?

Absolutely not!


There is a tremendous misconception around what proper financial planning is. Comprehensive financial planning takes into account so much more than just investments or insurance.


At Insite CPA, we combine the skills we have learned as financial planners with our accounting abilities to create a unique synergy that allows us to see beyond simple tax planning. This benefits every client we serve, even when we are just completing routine tax work for them.


For clients needing a more thorough financial plan, we are happy to provide that service. Keep in mind that it is optional, and we would never think of forcing a client to purchase it.


Unlike many financial planners, Insite CPA never receives a single dollar in commissions for financial products. We are what is commonly referred to as fee-based financial planners. This ensures that our objectivity is never compromised, and we only make recommendations that are 100% in the best interests of you, our client.

I LIKE INSITE CPA’S PHILOSOPHY! UNFORTUNATELY, THERE DOES NOT SEEM TO BE A FIRM LIKE IT IN MY AREA. WILL INSITE CPA SERVICE CLIENTS OUTSIDE THEIR NORMAL AREA?

Happily!


Insite CPA was created as both a virtual firm, and a more traditional in-person firm. This allows for fast and convenient service delivery, no matter where a client might be located.


We have many clients in our city who love being able to deal with us from the comfort of their homes and offices. We also have clients with Canadian filing requirements that are living in various locations in the world.


We have invested heavily in technologies that allow us to service clients from anywhere in the world, just as if they were sitting across the desk from us!

IF I FIND A LOWER PRICE, WILL INSITE CPA MATCH IT?

The short answer… no.


The long answer… we spend a good portion of time evaluating our costs to ensure that the money we do spend has a direct and measurable benefit for our clients. Our profits are well within the industry average, so our clients should rest assured that the fees we charge are necessary to deliver the type of service, service that truly benefits them.


As a means of double-checking this assertion, we routinely survey other firms and the marketplace in general to ensure that our fees are in line with the industry norms.


Lastly, it is important that the consumer realize that not all “accountants” are created equal. The truth is anyone can call themselves an “accountant”. However, only people who have met very stringent requirements are permitted to use the title “Chartered Professional Accountant (CPA)”. Is the person you are considering a designated accountant (CPA)?


Every rule has the exception and there are some good non-designated accountants out there. However, without a professional accounting designation, how can a potential client know an accountant has the training and experience necessary?


Shopping for an accounting professional solely on the basis of cost is a risky and short-sighted approach. The true measure is the cost relative to the value a professional can bring. A $200 accounting bill that saves you $1,000 is much more costly than an $800 accounting bill that saves you $3,000.

I SEE THAT YOUR BUSINESS CLIENTS PAY THEIR FEES MONTHLY, IS THIS THE ONLY OPTION?

Yes, business clients do pay their fees monthly through a convenient direct debit.


Personal tax clients pay in one instalment immediately following the completion of their return.


Business clients are given an upfront fee for the year that is designed to include all of the services they will require. This fee is then broken down into monthly payments and withdrawn automatically from their business bank account.


By determining the coming year’s fee in advance, and splitting it into equal monthly payments, our business clients get predictable pricing. They never have to worry that about some larger than expected bill being delivered with their final accounting documents.


Further, we recognize that fees for a quality accountant can be one of the larger operating expenses for a business. Being able to break this expense into 12 manageable payments has been very beneficial to our client’s cash flow.


We never want cost to be a barrier to accessing the best accounting and financial planning expertise available.


Simple. Predictable. Affordable.

DO YOU REALLY OFFER A MONEY-BACK GUARANTEE?

We sure do!


We want our clients to be thrilled with Insite CPA and we will do everything in our power to make that happen. Our money-back guarantee removes all of the risk associated with trying a new service. If you’re not happy, we refund your money. Simple.

THAT’S GREAT THAT YOU’RE COMMITTED TO GIVING BACK! WHAT MADE YOU CHOOSE TO DO THIS?

Insite CPA was founded on the belief that too little guidance was available to allow the average person to succeed financially. We wanted to change that. We are truly passionate about seeing people reach their full potential and having a solid financial foundation is crucial.


Then we took that a step further and thought, “Why should that be limited to our clients?”


That’s where we created the Insite Foundation, to apply that same desire to see people beyond just our clients reach their full potential too.


Everyone involved with Insite CPA, staff and clients alike, genuinely enjoys seeing the positive impact that our financial support can have. We were blessed with the opportunity to create a successful business, it only seems right to share those blessings with others around the world.


We also love to see our clients inspired by the Insite philosophy to give back in their own unique ways.

IS THIS JUST A SCHEME TO SAVE INSITE CPA A BUNCH OF TAXES?

Well you could certainly be forgiven for thinking that a group of accountants would have found a way to lower their tax bill! But no, the Insite Foundation was not created as a means of avoiding taxes.


While there is a reduction in taxes payable because of the financial support to the foundation, these tax savings are only the tax that would otherwise have been paid on the profits of Insite CPA.


In short, when we give $1,000 to the foundation, $200 of it might be made up of tax savings, but the other $800 is money that would otherwise have been available for distribution to the owners of Insite CPA.

IT SOUNDS GREAT THAT YOU GIVE 25% TO CHARITY, BUT ISN'T IT JUST YOUR CLIENT'S MONEY PAID THROUGH HIGHER FEES?

Absolutely not.


Our decision to give 25% of Insite CPA’s profits to the Insite Foundation was our own decision. We would never force that on our clients, either directly or indirectly.


We have compared the profits of Insite CPA with the industry average and they are highly comparable. Given that we are only as profitable as any other firm in the industry, there is certainly nothing to suggest that our clients are simply overcharged to support the Insite Foundation.


While we could not exist without our awesome clients, the 25% really is coming from the same level of profits we would have even without the support of the Insite Foundation.

WHAT DOES TYPES OF CHARITIES DOES INSITE CPA SUPPORT?

Just for the sake of clarity, Insite CPA provides the funds to the Insite Foundation. Even though there is a close link between Insite CPA and the Insite Foundation, through sharing of leadership, they are run separately. It is the Foundation’s job to determine how best to allocate any financial resources.


The mandate of the foundation is to create and encourage opportunity for those who would otherwise have very little access to it. We have found one of the best means to do this is to support educational initiatives around the world, primarily supporting children.


We encourage anyone who is interested to visit the Insite Foundation website to learn more.

NOT TO SOUND RUDE, BUT IT SOUNDS LIKE YOU’RE SAYING WE SHOULD USE INSITE CPA BECAUSE YOU GIVE MONEY TO CHARITY?

Definitely not!


There would be more than enough reasons to use Insite CPA even if we chose to hang onto 100% of the profits the way many businesses do. We know that not all of our clients will be as excited about the impact of our 25% charitable share as we are, and that is just fine.


You want to choose the firm that maximizes your financial potential and that should be your first priority. You would look long and hard to find a firm that does it better than Insite CPA. THAT is the reason you should be a client.


Some choose to see the Insite Foundation as a bonus, and others could care less. Whatever your personal beliefs, we will give you the best tax and financial guidance, period!

SO, DOES THIS MEAN THAT FOR EVERY $100 THAT I PAY IN FEES, $25 IS GIVEN TO THE INSITE FOUNDATION?

No, not quite.


Like all businesses, Insite CPA has plenty of overhead to cover. We incur many costs to provide the service we do: office space, technology, marketing, and of course our terrific staff! Those costs are deducted from gross revenue to arrive at our net profit.


Let's say that each $100 of revenue required $80 in expenses to earn. The $20 left over would be our profit. Of that, 25% would go to the Insite Foundation. Using the numbers from this example, $5 from the original $100 of revenue would go to support the works of the Insite Foundation.


We are proud of this commitment and wanted to make it simple and transparent. No accounting sleight of hand, simply 25% to be used solely to make the world just a little brighter.

Have a question and can’t find the answer on here? Let us know and we will be happy to answer it for you!

 

Given the complexity of tax regulations and the uniqueness of each taxpayer’s situation, tax and accounting advice can only be rendered within a specific engagement.

 

INSITE CHARTERED PROFESSIONAL ACCOUNTANTS

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Contact

(403) 685-1000

(800) 685-8814

Address

400, 909 17th Ave SW 
Calgary, AB
T2T 0A4

©2019 BY INSITE CPA