How Much Does an Accountant Cost in Canada?

If you’re a small business owner, you’ve probably thought about finding an accountant near you.

Keeping track of the day-to-day needs of your business can be quite a handful on its own, and monitoring your business’ finances on your own only adds to that pile of tasks.

It can be hard to know where to start, and knowing how much an accountant would cost is a great first step. Do you have the means to hire an accountant? What should you expect when doing so?

Read on to learn more about hiring an accountant for your small business.

What Does an Accountant Do?

Accountants are designated professionals who oversee a company or individual’s finances. This includes keeping track of income, expenses, and tax information. In addition, accountants can provide consulting on financial moves for your company as well as assure that your company meets government regulations.

How Much Does an Accountant Cost in Canada?

The average hourly price of an accountant in Canada is $150—$400 and up an hour. Depending on the size of your business, getting your taxes done by an accountant in Canada costs about the same.

Many factors can affect the price of an accountant, and every accounting firm or individual charges differently. They might charge by the hour, flat rate, or on a sliding scale proportional to your business’ revenue stream.

Factors Influencing Cost

Every business is a little different; thus, every business has different needs. The size of your business, the services your business needs, and the frequency in which you need an accountant’s services are all factors that affect the cost.

The Size of Your Business

The size of your business is directly proportional to the amount of accounting you’ll need.

If you’re a small one-person business, you only have to worry about expenses, income, and taxes that you are directly involved with. In this case, you might only need intermittent assistance from an accountant.

You might even only need an accountant once a year to help with tax preparation.

If you’re a large company with multiple employees, budgets, and large transactions, you’ll more than likely need more from your accountant.

The Service You Require

Much like the size of your business, the needs of your business will affect the cost of hiring an accountant. Accountants and CPAs can handle your taxes, budgets, financial policies, and provide consultation on saavy financial moves for your business. The price will depend on what exactly you need.

Many accountants offer introductory consultations to assess your needs if you’re not entirely sure where to start.

Length of Time

The length of time you will need an accountant’s services also ties directly to the size of your business. If you only need light help around tax time, your accounting costs will be fairly low.

If your business is rapidly growing, you might need to regularly consult with an accountant to keep your finances running smoothly, which will cost more.

How Much Should a CPA Cost?

A CPA, or Certified Public Accountant, is a professional who has undergone more schooling and can perform more duties than a regular accountant. They are certified, and thus recognized by the government as an individual who is an expert in the financial industry.

CPA rates fluctuate like they do with regular accountants depending on your needs, the size of your business, and the experience of the CPA. However, CPAs charge significantly more than accountants due to their extensive schooling, expertise, and capabilities.

What Does a CPA Do?

CPAs can run internal audits, oversee a business’ accounting policies, prepare reports and tax information for government purposes. They can also oversee a business’ budgets, provide consultation on financial moves, and keep up to date on changes in the financial industry.

CPAs can also specialize in specific areas such as forensic accounting, taxation, non-profit accounting, and managerial accounting. If you need help in a particular area more than others, you can find a CPA who is compatible with your needs.

When Should a Small Business Seek Financial Help?

The best way to determine if you should seek out an accountant is to monitor where your time is going.

Tracking finances can become overwhelming, so if you find that you’re spending more time crunching numbers than working on your business, hiring an accountant could be the way to go. This will free up time for you, and you’ll have peace of mind that everything is being taken care of.

Also, take a look at your existing budget. Do you have the means to hire an accountant? This could be a sign of growth for your business, and hiring an accountant now could save you headaches later on.

Consider Hiring a Part-Time Accountant

If you’re concerned about costs but still feel that you need the help of an accountant, consider hiring a part-time accountant.

A part-time accountant will be able to keep your business’ finances in order, and they’ll be able to provide counsel on financial strategies. For your small business, that could be more than enough to ease your worries and stay within your budget.

What May Happen to Your Business Long Term If You Don’t Hire an Accountant

If you’re watching your financial workload grow as your business grows, not hiring an accountant could cause some major problems down the line.

Trying to keep track of a growing business on top of all the financial paperwork that goes with it is no small task, and it can quickly get out of hand.

Is it worth it to hire an accountant? Absolutely. Opting not to hire an accountant could result in errors in your taxes, income and expense tracking, and overall budget.


Keeping track of your business’ finances can seem overwhelming, but an accountant can help ease those worries. Now that you know the basics, you’ll be able to determine the type of help you need, how long you’ll need those services, and what you’re able to afford. You may even decide to opt out of accounting services altogether and learn accounting on your own.

With a little bit of planning, you can choose the right path to help take care of your business’ finances.

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