Costs & Rates
Understand what an accountant really costs in Canada based on your situation, what factors affect the bill, and how to pay a fair price, then get matched with the right accountant for free.
The cost of an accountant depends on your actual needs: a simple tax return costs much less than monthly bookkeeping, a corporate tax return (T2/CO-17), or a business incorporation. Keep in mind the three main billing models, by the hour, flat rate, and one-time engagement, and compare several accountants before making your choice.
There’s no one-size-fits-all price: an accountant’s fee depends on your specific situation. Filing a tax return, monthly bookkeeping, filing corporate reports, and incorporating a business fall into very different price ranges. The right question isn’t “how much,” but “how much for what.”
To give you a reliable estimate: according to the Bankeo Fee Barometer of Accounting Fees, based on more than 15,000 requests from business owners received since 2023, the median is around $3,000 per year, ranging from $500 to $6,000 depending on the industry.
In Canada, accounting fees are not regulated: each accountant sets their own rates based on their expertise, location, and the complexity of the case. A self-employed individual with just a few invoices a month will never pay the same amount as an incorporated SME that handles payroll, GST/QST, and financial statements.
The best way to get a clear picture: define your needs precisely, then Compare a few quotes On the same basis. Make a list of what you want to outsource (tax returns, taxes, bookkeeping, advice) before requesting a quote.
Good to know: Bankeo is not an accounting firm. Our role is to connect you, for free, with an accountant who’s right for your situation, so you can compare the best options without having to guess.
The price varies depending on five factors: the volume of transactions, the type of tax return (T1/TP1 for an individual, T2/CO-17 for a corporation), whether taxes and payroll are involved, how organized you are, and the expertise required.
The time of year matters, too: demand is high during tax season. Getting your paperwork ready early gives you more time to shop around.
There are three models. The hourly rate is suitable for one-time needs. The Flat fee (monthly or annual) covers a set of defined services, ideal for budgeting. The one-time engagement applies to a single task, such as filing a tax return or incorporating a business.
In any case, make sure to get a written confirmation of what’s included, what’s excluded, and the rates for any extras.
The price depends mainly on your status. A simple personal tax return (T1/TP1) is at the lower end of the scale. A self-employed individual costs more. A corporate tax return (T2/CO-17) is significantly more expensive, as it requires financial statements.
In Quebec, don’t forget to file two tax returns: the federal (T1) return with the CRA and the provincial (TP1) return with Revenu Québec.
The Bookkeeping is most often billed as a monthly flat fee, calculated based on your transaction volume and the services included (categorization, reconciliation, GST/QST tracking, payroll, reports).
Regular bookkeeping keeps your books up to date, which reduces your year-end bill. The accountant spends less time making corrections. Conversely, falling behind turns a routine update into a catch-up job, which is more expensive.
Good to know: Bookkeeping and tax preparation are two separate services. Be specific about your needs to compare equivalent prices.
Incorporation involves two types of costs: the government fees registration (federal or provincial) and the Professional Fees for an accountant. There are also recurring costs: the annual tax return (T2/CO-17) and more structured bookkeeping.
In Canada, you can incorporate federally (Corporations Canada) or provincially (in Quebec, the Registraire des entreprises). This choice has implications for both cost and jurisdiction.
Incorporating isn’t always cost-effective at first: below a certain income threshold, operating as a sole proprietorship remains simpler. It’s a trade-off where an accountant saves you more than what you pay in fees.
These three roles don’t cost the same because they don’t do the same work.
Often, the most cost-effective solution combines both: a bookkeeper for day-to-day tasks and an accountant or CPA for tax returns.
Vocabulary note: In Canada, the terms “accountant” and “CPA” are used. Bankeo refers to “accountants in the network” and “vetted accountants.”
To pay the right price, Compare multiple accountants Based on the same scope of services, request a written breakdown of what’s included, and come prepared with an organized file. The biggest way to save money is to reduce the time spent on a disorganized file.
With Bankeo, you’re matched with vetted accountants for free, you can compare them, and we’re here to support you: if the accountant is no longer a good fit, even later on, we’ll find you another one at no cost.
The cost depends on your volume and your needs: a simple T1/TP1 return costs less than a package that includes bookkeeping and GST/QST tracking. Define your requirements, then compare a few quotes. Bankeo connects you with providers for free so you can compare.
There are three pricing models: hourly rates, flat fees (monthly or annual), and one-time assignments at an agreed-upon price. Always ask in writing what is included and excluded before signing.
It depends on the task. A bookkeeper handles your day-to-day accounting at the most affordable rate. An accountant or CPA handles tax returns and provides advice. The most cost-effective approach often combines both.
As soon as their advice saves you more than their fees: unclaimed credits, a better compensation structure, avoided penalties, and time saved.
Nothing. The matching service is completely free for entrepreneurs, with no obligation. You only pay for the accounting services you choose, directly to your accountant. Bankeo isn’t an accounting firm, we simply connect you with the right accountant.
Define your scope of services precisely (tax returns, taxes, bookkeeping, payroll, consulting), then request the same scope from each accountant. Bankeo matches you with vetted accountants for free, usually within 48 hours.
General information provided for informational purposes only, based on known 2026 tax rules. It is not a substitute for the advice of a Chartered Professional Accountant (CPA): always consult a professional regarding your specific situation.
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