Updated Checked by the Tax-Services.ca editorial team How we check
CPA savings are real but smaller and more specific than the ads suggest. An accountant mostly finds deductions and credits you’d otherwise miss, and every dollar of saving comes from a rule you could read yourself. Here, “CPA” means a chartered professional accountant, and “savings” means tax you don’t pay. We don’t quote any fee level on this page, because fees vary a lot from one preparer to the next.
Where do CPA savings actually come from?
Mostly from three places. The first is a deduction you didn’t know existed or didn’t claim, like an RRSP contribution. The second is a credit, such as a spouse or disability amount. The third is timing, meaning which year you take a loss or a gain.
Nobody can cut a tax rate. If someone promises big savings on an ordinary employee return, be suspicious. Most employees have little room to move beyond an RRSP and the credits they already know about.
Self-employed people, landlords and owners of small companies have more to sort out, since they decide what to deduct and in which year, and a wrong guess on any of it can undo the whole saving. That’s where paid help earns its keep. Think of Marcus, a freelance electrician in Moncton who has never claimed a dime of his truck costs. A good accountant could be worth a lot to him. A salaried clerk with one T4 gets a lot less out of the same hour.
What is one deduction really worth?
We ran an RRSP contribution through our engine for an Ontario employee on 2026 federal and Ontario rates. The saving depends on your income more than on the size of the contribution.
| Employment income | RRSP deduction | Tax saved |
|---|---|---|
| $60,000 | $3,000 | $753.78 |
| $60,000 | $6,000 | $1,429.59 |
| $90,000 | $3,000 | $889.50 |
| $90,000 | $6,000 | $1,779.00 |
| $150,000 | $3,000 | $1,302.29 |
| $150,000 | $6,000 | $2,604.58 |
Take the first row. A $3,000 contribution cuts Ontario tax from $8,320.50 to $7,566.72 on $60,000 of pay. That’s $753.78 back, or about 25 cents on the dollar. You can test your own figures in the RRSP calculator.
So before you pay anyone to find savings, ask what the fee is against a number like that. If the likely saving is a few hundred bucks, a preparer who charges more than that has to earn the fee some other way, because the cash won’t cover it.
How do you check an accountant before you hire one?
The CRA keeps a tax preparer directory, searchable by postal code, for CRA-certified preparers. Its page on using a professional tax preparer says those listed are certified to file your return through CRA EFILE. A preparer can be a firm, an organization, a discounter or another certified individual, so the word “CPA” isn’t the only thing to look for. Ask which designation the person holds and confirm it with the provincial body yourself.
The CRA also gives plain rules. Never sign a blank form. Ask for a copy of your return. Review the prepared return and the authorization form before it’s filed. Keep your documents for at least six years. And remember that you’re responsible for what’s on the return, whoever typed it.
Watch one more product. A discounter will calculate your expected refund and pay you a lump sum up front before filing. Read the agreement closely and work out the charge against your refund first. Our tax refund calculator gives a quick estimate to compare it with.
What are the warning signs of a tax scheme?
The CRA lists them. Large returns on small investments. Pitches at seminars, webinars or on social media. Claims of CRA approval. Pressure to skip a second opinion. Penalties for people who take part can include extra tax, fines and, in serious cases, jail, according to the CRA’s warning page.
A real accountant will tell you what a deduction needs, for example a receipt, and will be fine with you asking someone else. One who discourages that isn’t on your side.
What should you bring to the first meeting?
A tidy folder saves you money, since a preparer who spends an hour sorting your receipts is billing you for that hour. Bring last year’s notice of assessment, every slip you received, receipts for anything you plan to deduct, and a short list of what changed in your life: a move, a new baby, a job loss, a side gig. Those changes are where most missed credits hide.
When does paying for help make sense?
When your income has more than a T4 in it. Try the self-employed tax calculator or the corporate tax calculator and see how many choices the numbers hide. If you can follow what the calculator does, you may be able to file alone. If you can’t, that’s your answer.
For a simple return, free filing software and the income tax calculator may be enough. The CRA also points to free tax clinics for people who qualify, so check its page if you think you do.
The sources behind this page
The tax figures come from our calculators, built on the 2026 federal and Ontario brackets from the Canada Revenue Agency. The advice on preparers and schemes comes from CRA pages on canada.ca, read in October 2026. We’re an independent site, and nothing here links us to the CRA or any professional body.
Frequently asked questions
How much can a CPA save me on my taxes?
It depends on your income and what you've missed. A $3,000 RRSP deduction saves about $754 on $60,000 of pay in Ontario, and more at higher incomes.
How do I check a tax preparer?
Start with the CRA's tax preparer directory and ask which designation the person holds. Never sign a blank form and ask for a copy of your return.
What is a refund discounter?
A firm that estimates your refund and pays you a lump sum up front before filing. Read the agreement and compare the charge with your refund.
Is a CPA worth it for a simple T4 return?
Often not. A salaried return has limited room beyond RRSP and credits, so software may do the job.
How long should I keep my tax documents?
The CRA says at least six years.
- How to choose a tax preparer in Canada
How to decide if you need a tax preparer, what a preparer does, the questions to ask before you hire one and where to find free help in Canada