Tag Archives: Income tax

Canadian Income Tax Filing Made Easy

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Canadian Income Tax Filing Made Easy

In recent years, the Canada Revenue Agency (CRA) has been expanding the methods available for you to file your income taxes. As the digital revolution continues, the agency has focused much of its energy on developing online filing methods. However, traditional means are still available to facilitate your Canada income tax filing.

Online

Accountants' Office

Accountants’ Office (Photo credit: RobW_)

The CRA has established NETFILE as an online option for filing your Canadian tax return. The CRA has certified the commercial software and the Web application of the program. Also, there exists a number of free software applications for use with NETFILE.

Digital Service Provider

You may employ a service provider to submit your taxes online with the EFILE program to prepare you return. After completing your return, take your forms to a digital service provider to file online for free. This digital platform traditionally results in your return being processed quickly.

Mail

Regardless of the nature of your return, every tax filer in Canada has the option of submitting his or her return by post. Simply complete the required forms, and place them in the mail for the cost of a stamp.

Professional Accountant

If your taxes are complex, if you own a business, or you just don’t feel confident about completing your income tax returns on your own, you may hire an accountant to prepare your taxes.

Whether you are a small business owner who doesn’t have the time to complete your returns or you like the convenience of the Internet, there is an option for you to successfully file your Canadian tax return.

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Gear Up To File Your Canadian Income Tax

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Gear Up To File Your Canadian Income Tax

There are several fundamental principles that need to be considered while filing for Canada’s income tax. Does your Canadian income tax package contains complete information and all the relevant documents that are required to file for income taxes in Canada? Significantly, the tax payee must keep in mind the deadlines for filing a Canadian tax return. In case, if you are obliged to pay taxes on your income and you file a Canadian tax return after the deadline then you will be penalized as per the Canada Revenue Agency rules.

English: Northwest corner of the Connaught Bui...

English: Northwest corner of the Connaught Building located at 525 MacKenzie Avenue in Ottawa, Canada. The building is now the headquarters of the Canada Revenue Agency. Français : L’angle nord-ouest du Connaught Building, situé au 525 MacKenzie Avenue à Ottawa, Canada. Le bâtiment est le siège de la Canada Revenue Agency. (Photo credit: Wikipedia)

Points to be considered while filing your Canadian tax return

• You must provide your Social Insurance Number when you file  your Canadian tax.
• You must provide your tax information slips to give the information to the Canada Revenue Agency about your earnings and the amount of deducted tax.
• Also you must have tax deduction receipts to provide relevant information about the tax deducted from your income.

These are the key points that will help you to file a Canadian tax return with no shortcomings.

Moreover you can file your Canada income tax online. Though the Canadian income tax filing procedure via phone has been ceased, you can still file your taxes via mail or by employing someone. Besides, if you file online then you have the option to make alterations too. If you owe your taxes to the CRA then it is advisable as well as crucial to arrive at a tax services office as soon as possible for better assistance.

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Getting Your Taxes Done with TurboTax Canada

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Getting Your Taxes Done with TurboTax Canada

TurboTax Canada is the software that every person should take advantage of when it comes time to sit down and do your taxes. Paying a professional can be very costly, you may be throwing money away. Also, taking this approach would mean having to rely on someone else to find the tax savings that are available to you.

saving and spending

saving and spending (Photo credit: 401(K) 2013)

When you are able to take control of the filing process, it would be much easier to find any potential savings that may be available to you. Even if you have a limited understanding when it comes to income tax Canada filing, you would find that this software does all of the work for you. The TurboTax approach is based on the understanding that not everyone is a tax expert, it is built to guide you through the process step by step. When you turn to this software to get your taxes down, you would find that you are able to file without having to feel extremely stressed about getting through the process.

When you choose TurboTax Canada to file your taxes, you would be able to keep more of the money that already belongs to you. Spending all of your money to have someone else do your taxes may seem like it would get you the most savings. However, income tax Canada filing on your on would likely be the easiest way to ensure that you are not missing out on savings that are available to you.

Tax season can be very stressful when you do not know where to turn. If confusion is a feeling that you are having when it comes to your taxes, you are going to find the guidance of this software to be very helpful. In no time at all, you can complete your taxes and get back to enjoying your day.

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Filing Taxes with TurboTax Canada

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Filing Taxes In Canada with TurboTax

TurboTax Canada is designed to make filling less of a challenge no matter who you may be. Taxes are typically something that people put off for as long as possible because they do not have the right tools available when it comes to getting the job done quickly. However, this software allows you to complete your taxes in a matter of just a few minutes.

English: Postcard (postmarked 1907) depicting ...

English: Postcard (postmarked 1907) depicting John Bull and Uncle Sam under sign “To Canada” bringing in sacks of money “for investment in Canada” (Photo credit: Wikipedia)

Any person that has ever wished for guidance when it comes to their income taxes in Canada should see what this software has to offer. Since it is built around the understanding that you are entering the filing process without any prior knowledge, it is very easy to get adjusted to without having a professional walk you through. Not everyone has the money needed to go pay someone to put their taxes together, this should not make your life more difficult.

When you file with TurboTax Canada, you do not have to spend your money in order to pay someone for a service you can complete on your own. Having peace of mind when it comes to the fact that your taxes are done correctly is also not something you would be able to rely on when taking them to someone else. Completing your income tax  return in Canada online is a simple way to make your life a lot easier.

Since this software is designed in steps that are easy to understand, you do not have to worry about getting lost. If saving money on your taxes is something you are thinking about, you need the best software on the market today. TurboTax can help you to find more deductions, this means more of your hard earned money stays where it belongs. Make your life a lot easier through turning to this software to complete your taxes quickly and without headaches.

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TaxAct : Pros and Cons

TaxAct : Pros and Cons

TaxACT is now hitting the big time with the promise to file tax free for everyone. This online tax preparation service helps you prepare, print and eFile your federal return for free. You can file prior-year federal and state returns back to 2000 with the help of this service.

TaxACT Logo

TaxACT Logo (Photo credit: Wikipedia)

State returns are not expensive. For additional assistance including prior-year import ability or free phone support, you need to pay for your federal return. This tax preparation service has kept on its edge on the competition by making tax time less troublesome for all taxpayers.

TaxAct provides 3 editions-

  • A free federal edition
  • An Ultimate Bundle for $17.95
  • A Deluxe edition for $9.95

For the free and Deluxe versions, you have to pay an additional fee for state filing, whereas the Ultimate version includes one federal and one state filing. Further, you can avail CD and downloadable software editions that range from $12.95 – $21.95. With this option, you can prepare and print numerous federal returns. TaxACT also helps create an accurate return to the exact dollar amount without any difficulty.

TaxACT can help you through 35 life changes. You can avail TaxTutor Guidance that provides more than 2,500 tax tips. This definitely helps you find out all the deductions and credits that you can claim. The Ultimate and Deluxe versions come with a tool, which tracks charitable donations. Further, it features a tax glossary, which contains definitions for more than 300 tax terms. This helps ensure that you know line items properly.

TaxACT is easy to use even for a first-time filer. Various helpful hints are available. This tax preparation service offers a wide array of audit support, low priced state filing and free federal eFiling options.

However, telephone support is not free. You have to pay minor charges. Further, as compared to other top competitors, their online tax information is brief.

All in all, if you do not need extra assistance, you can go for TaxACT. With the help of their service, you can create accurate returns effortlessly.

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