Not being 100 percent honest with your accountant is the worst mistake you could make. The truth will come out, either in the planning stage or if the CRA conducts an audit. You must trust your accounting team to hold all your information with the utmost level of privacy and security. You must also know that they are going to be completely straight up about what you can and can’t do.
Failing to follow the advice of your accountant is another common mistake. You hire your accountant for expertise and knowledge. But you should always review their advice and after full consideration, work together to make the best decisions for your personal situation. Sometimes general rules apply, but the best will look at your individual needs and ensure you are involved in the leadership of your own life decisions.