TurboTax

[blownz]

Originally posted by jwslam

What form is that on? I've never seen that!

Originally posted by diamondedge
http://www.cra-arc.gc.ca/tx/ndvdls/t.../menu-eng.html

APEGA fees brah - I always deduct em.

Originally posted by pheoxs


Can I claim fees from previous years? I forgot to claim my previous years fee. Can I claim this years and lasts?

Be careful you guys aren't claiming professional dues on your tax return if you are expensing them at work as well. I don't know of a single engineer or accountant that actually pays for their annual dues themselves.

If you company pays for your dues, you can not claim them on your tax return.


I worked at a company that was getting audited and one of the things they wanted was a list of every employee that was reimbursed for professional fees and education courses. I was one of the people on the list and later that year I had an audit that went back 3 years looking for proof that I paid for some courses I had claimed a few years back.

[pheoxs]

Originally posted by blownz







Be careful you guys aren't claiming professional dues on your tax return if you are expensing them at work as well. I don't know of a single engineer or accountant that actually pays for their annual dues themselves.

If you company pays for your dues, you can not claim them on your tax return.


I worked at a company that was getting audited and one of the things they wanted was a list of every employee that was reimbursed for professional fees and education courses. I was one of the people on the list and later that year I had an audit that went back 3 years looking for proof that I paid for some courses I had claimed a few years back.

I had to pay last years out of pocket unfortunately, cheap ass employer wouldn't cover anything. This year though I'll get reimbursed.

[blairtruck]

bump this thread instead of starting a new one for one tax question

all of 2013 i was on sun life long term disability. was told i will not get any paper and to enter year amount as zero.


question is. do i have to declare my rrsp contributions this year? or can i just sit on the paperwork until next years tax return when i would be working again and enter it then?

[Hi-Psi]

I'm just wondering as I usually pay an accountant $60-100 to do my taxes every year but would like to try and do it on my own this year.

I usually have just T4's, RRSP contributions and professional dues on my taxes, I very rarely get over the $500 medical expenses mark to claim.

This year I have a T4E as well.

Does it matter then between TurboTax or SimpleTax or StudioTax? I see most people seem to like TurboTax best...

Also, I sold some stocks in my self directed RRSP account but didn't actually pull anything out of my RRSP account so I don't need to do anything different with my taxes correct? I noticed in TurboTax it asks if you sold stocks, not sure if what I did counts since I never took it out of my RRSP account.

Thanks

Jason

[Env-Consultant]

I used StudioTax and GenU this year - exact same numbers for a payout. No clue why someone with basic returns would pay for tax software....

[Disoblige]

Turbotax is newb friendly because it helps you decide what forms you need by asking you questions.

When you use Studiotax, it is pretty straightforward as well, but it isn't holding your hand as much as Turbotax is. I prefer Turbotax since it is more intuitive, but Studiotax does the same job and is free.

Originally posted by Env-Consultant
I used StudioTax and GenU this year - exact same numbers for a payout. No clue why someone with basic returns would pay for tax software....

Whoa, I just looked at GenU. It looks sweet. Do you prefer it over Studiotax?

[Env-Consultant]

I hear what you're saying - but even for complete n00bs it's pretty straightforward with StudioTax and GenU.

To be honest, I don't have a preference over StudioTax or GenU. This year I had T4s, RRSPs, and a first time home buyer's tax credit (used by my spouse - I already claimed mine about 4 years ago when I bought my first home - was not dating my current spouse at that time) - it literally took me about 15 minutes to do both of our taxes, and that's doing it on both systems (StudioTax and GenU). At the end you simply click NetFile and accept, and you're done.

Nothing against anyone using paid-for software, I just think it's completely unnecessary and the free software babysits you/holds your hand just as well as the paid software. I think many people have a misconception that because it's free, it likely isn't good, and will likely F their taxes up; simply put, that's just not true. If you mistype your values and screw things up, whether you're using TurboTax or StudioTax, the result will be the same - a return that is incorrect.

On top of all that, if you have any questions, just call CRA. I've called them a few times in the past and they've been nothing but awesome/helpful. I appreciate that they treat me well, especially given the frequency of how often I left them fuck me (every 2 weeks when I receive my paychecks)

Have fun and happy tax season!

[e36bmw///]

nm

[403ep3]

I used turbo free for my cousins and paid a bit for myself and the wife because they are a bit more complicated.

[3nergiz3d]

Originally posted by e36bmw///
Bring this back from the dead

Although it seems that people don't trust going to HR to get their taxes done, has anyone used their free software?

I use it as a baseline to compare two free softwares to see if I come up with a similar amount. I used SimpleTax this year as opposed to StudioTax. The nicer interface on SimpleTax is greatly welcomed as opposed to Studiotax.

[2Legit2Quit]

+1 for simple tax

[blairtruck]

ive used the free studio tax for a few years now. no problems.

[killramos]

Thought I would bump a thread rather than start a new one.

But can someone who is more in the know explain to me the practical mechanical differences between the multitude of turbotax versions?

I am perfectly capable of doing them by hand on paper, but using software saves time which is convenient. I use turbotax last year and it was great, i think I just used "standard". I guess I am wondering what bumping up to premier or self employed actually gets you for "Guidance on investment income and expenses, and rental property income and expenses". I mean I have investment income etc. but I was able to claim all that last year anyway. Its a huge bump in cost to file so I am just wondering what I am getting for my money and google isn't really helping...

Also is there a practical difference between the "online" and the download versions? Seems like I can do several returns with the download software but the online is pay per return.

TIA

[jwslam]

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Thought I would bump a thread rather than start a new one.

But can someone who is more in the know explain to me the practical mechanical differences between the multitude of turbotax versions?

I am perfectly capable of doing them by hand on paper, but using software saves time which is convenient. I use turbotax last year and it was great, i think I just used "standard". I guess I am wondering what bumping up to premier or self employed actually gets you for "Guidance on investment income and expenses, and rental property income and expenses". I mean I have investment income etc. but I was able to claim all that last year anyway. Its a huge bump in cost to file so I am just wondering what I am getting for my money and google isn't really helping...

TIA

The cheapest turbotax will still give you all the forms.
The pay-up versions just give you more of the guided questions / their version of UX/UI forms.

[ExtraSlow]

Cheapest online version is my strong preference. That way, my previous years are all pre-filled in the system when I log in.

[killramos]

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The cheapest turbotax will still give you all the forms.
The pay-up versions just give you more of the guided questions / their version of UX/UI forms.

dare i go as far as to wonder if the more expensive ones are more of a "scam"?

[2Legit2Quit]

Any reason not to use a free product like Studio Tax over TurboTax?

[ExtraSlow]

You moved out of the NE, so you are the target demographic now.

[Disoblige]

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dare i go as far as to wonder if the more expensive ones are more of a "scam"?

I have the same question as you in regards to the bump from Standard to Premier.
The only way I feel that gets answered properly is if someone has used both before.

[dj_rice]

If anyone needs TurboTax, I'm done with mine and I should have 7 more free returns but not sure if you can install on multiple computers. I believe you can just download the online version and enter my pin in to activate it. Worth a try, cannot guarantee it will work but better than me throwing in the garbage.

PM if you want it. Must answer skill testing question. Did Carole Baskins kill her husband?