serious question folks
I always have H and R Block do my taxes. This year there will be four of them to do...mine, DH, DS1 and DS2.
The boys just have one T4 from their dish washing.
I will have a T4 and a T4A - one for my RRSP thingie, and a teeny amount of receipts for donations.
To go to H and R block is going to cost between $250 and $350 for the four of us.
I do not want to pay that if I can help it.
DH will have a T4, perhaps an RRSP one though I am not sure and a few from his GIC or whatever the heck he got when he last job closed and he had to invest the money.
Don't tell anyone but I am not really all that money wise. I bank online but I don't have the accounts linked to thinks like Quicken for spreadsheets.
There are no business expenses or those kinds of deductions I would have to figure out.
There might be some health ones for the cost of my travel and stay for Mr Colonoscopy in the city.
I smile and nod about my statements from my RRSPs but I don't really 'get ' all the pieces of it and such.
Am I smart enough to operate a home tax program and email whatever has to go, to whoever it has to go to...without messing it up badly or ending up in jail for tax evasion/fraud?????
Is there an 'are you smart enough to do your own taxes' survey??
And a more specific question to those in Canada....which program would you recommend for my needs and about how much might such a program cost?
It's on my bucket list to successfully file my own taxes. Is it possible I can cross this off the list?
Not Much Working Out Monday
3 hours ago
15 comments:
I use Turbo tax, easy to use. I've been doing my own for a while, ( my mom used to do them on paper). It's pretty fool proof Jolie.
You are definitely smart enough. Those programs really walk you through all of the steps.
We use tax act, it asks you questions and you input the numbers, free return but i always end up paying 9.95, i think because we itemize butit does all the calculations for you... Can't believe h&r block is so expensive.
HS
I agree - if you don't want to use the online version - buy the cd at Staples (or download it to your computer) and you can either netfile ("email") or you can print the pages (which I recommend you do regardless of the method you use) and mail them directly to the CRA. Google turbo tax and read through the options. Honestly, it will walk you through all the questions and as long as you answer honestly you should be fine!
Joanne
You can pull it off, Jolie! Come on girl! You are a well educated, whip smart woman! :)
Your boys returns through turbotax, or quicken or whatever should be free to process, as they would be under a certain income level. I have never done my taxes any other way than online or by paper when I was a teen.. It is super easy and I got a deal cause I got them through scotiabankscotiabank...
Sorry - last comment was long, but didn't finish.
I believe you can complete the entire return before paying. You only need to pay when it comes time to either print the return or electronically file.
The best part is, have often been able to use the online software for free! Last year, Royal Bank had an online code promotion for their customers to use it free. I believe that there is also an online deal for students to use the software free for their return.
Good luck, and let us know how it goes!
Jennifer
You CAN do this Jolie. Taxes are not hard, just long. Turbo Tax is great, but if you look at the paper forms, you just take one line at a time. Does it apply? If Yes, fill it in. If No, move on. My Dad helped me do my own taxes when I was 14 and I did the same for my children.
D (salary + investments)and I (self employed + investments) both use Ufile and have had no problem. They (Turbo tax is probably similar) lead you along step by step and since you can try it for free, you don't really have anything to lose other than maybe an hour of your time.
I used to pay an accountant to handle my stuff at the tune of $1200/yr. Now I pay barely $14. You can do it.
Definitely give it a try on your own. Get Turbotax (some banks may even offer you a discount to get the program, I know BOA does), and try it. Do you have a friend or family friend that could run the numbers for you, then you compare them? As a last resort, ditch H&R block and find someone locally... I know libraries usually have free tax-preparers that come in (with physical forms, last I checked) and they will help you do them. They're normally retired tax preparers. As for finding someone locally, ask around work or at the library, and I'm sure they can point you in the right direction. At the same try, time to do them yourself and compare the numbers. You may be surprised how close it falls. Other websites to check: Tax Hawk, Tax Act, H&R Block at home. Good luck!
I would suggest that you do them by hand together as a family - that's how to save the most money. The biggest reason though, is so that your family understands the process, it's a huge opportunity to learn about the tax process.
When I was about 13 and had my first job, my mom sat me down at the table and made me do them by hand. When I got frustrated or upset that it was 'too hard' she just said - 'read it'.
and it was true - the instructions are all there, and it's easy if you just follow through the steps methodically.
Nowadays, I do them by hand first (b/c I don't trust the software) and then do it AGAIN (i know, laugh at me), using the software to make sure it's right - then I submit online. I do it that way to get the tax return faster.
I've done mine all my life and it's so much easier now than it used to be. You don't have to be very savvy to use an online tax program - I use the same one as Sam - Turbo Tax. It prompts you every step of the way and the best thing is next year all your info will transfer in and you won't have to redo it!!
Go for it!
You are definitely smart enough. Programs like Turbo Tax walk you through every step and make it easy. Even better? They do the math. You can download the program off the internet. If I recall correctly, the tax returns for your children should be free to process (due to their low income.)
Don't go to H&R block. My sister went there, and they screwed up - big time.
To quote the INGDirect guy - Save your money.
You can do it!
I use TurboTax but UFile is pretty easy I hear too. Usually if you buy the CD you can get multiple returns so you can do your entire family. It's pretty self explantory as the programs ask you simple questions so you can follow along.
Good luck!
You will do fine. It is not difficult at all. We file a long form and use Turbo Tax. It really is pretty easy.
Post a Comment