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Old Jan 9th, 2012, 11:08 PM   #11
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You may want to check out Taxfreeway. I've used it for the past number of years and it's been great for my circumstances. Nothing fancy, just basic "take my money, gov!" stuff.

Cutting edge Canadian tax software - TaxFreeway

There's also a load of advice on previous threads regarding tax software for Macs and iOS
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Old Jan 10th, 2012, 01:20 PM   #12
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I used TaxFreeway for the past 2 years. I've never had a problem with it.

I'll probably use it again this year.
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Old Jan 10th, 2012, 04:21 PM   #13
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Awesome thanks for the very good info, will check them out.
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Old Jan 10th, 2012, 11:14 PM   #14
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Another vote for Taxfreeway for Mac, especially if you're in Canada and you prefer to have your tax files saved to your Mac for any quick review later etc.
Cutting edge Canadian tax software - TaxFreeway for Mac

And using it's review calculator before netfiling for our seniors' shared pension option has saved us a few thousand $$/year the last few years and shouldn't be overlooked or used to review before actually filing.
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Old Jan 11th, 2012, 08:17 PM   #15
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Does anyone know if/how any of the previously mentioned programs handle matters like:

- capital gains/losses, including loss carrybacks, etc.
- investment income (e.g. dividends)
- federal/provincial foreign tax credit forms


When you use them, I presume you can create a draft version that can be reviewed before finalizing/filing.

I also presume that the first year you use a program thereís a learning curve, but in subsequent years, if your return follows a similar path, less time is required.

Iíve always done my own returns. The majority of the time is spent on gathering/organizing the yearís info, then inputting figures onto the first draft and doing calculations . Once thatís done, a final draft is just copied. How are these programs an improvement? Is it just that they save time by automatically doing the calculations for you as you input? And of course, their accuracy?
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Old Jan 11th, 2012, 09:39 PM   #16
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Quote:
Originally Posted by wwj View Post
Does anyone know if/how any of the previously mentioned programs handle matters like:

- capital gains/losses, including loss carrybacks, etc.
- investment income (e.g. dividends)
- federal/provincial foreign tax credit forms
Investment income is typically on a T5, so you can simply enter information from the form. I've done capital gains on uFile, and it was simple. I don't recall the exact steps, because it was simple enough to not really be memorable. Other programs should be similar. Have no experience with foreign income, but I issue it's there.

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When you use them, I presume you can create a draft version that can be reviewed before finalizing/filing.
Yes, uFile lets you enter everything for free. You don't pay until you are ready to file and finalize. I know other programs are similar, though I don't recall which off the top of my head.

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I also presume that the first year you use a program thereís a learning curve, but in subsequent years, if your return follows a similar path, less time is required.
Yes. When you sign into your uFile, it remembers which slips/features you've used before, so it's faster the next year. (Unless your income taxes varies wildly year to year.)

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Originally Posted by wwj View Post
Iíve always done my own returns. The majority of the time is spent on gathering/organizing the yearís info, then inputting figures onto the first draft and doing calculations . Once thatís done, a final draft is just copied. How are these programs an improvement? Is it just that they save time by automatically doing the calculations for you as you input? And of course, their accuracy?
Honestly, the primary reason that I use these programs is so that I can NETFILE my tax return. For most people--myself included--a tax return is not particularly complicated. The error checking and automatic calculations are nice. But being able to submit it directly and quickly online is the reason I spend the money to use one of these programs.
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Old Jan 11th, 2012, 09:51 PM   #17
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I'm sure no finance expert and don't know about all the programs mentioned, but I do know that I prefer to use an off-line software and the freeway tax for Mac has suited my needs well, and I'm sure has all the stuff available you asked about.

And then if using it in future years, it has the option to use previous user data and do any carry forward type and auto user's data stuff.

I guess the best way to check is to download and install an appropriate version as it's free to use and may only need to be paid for depending on it's free use limitations.

Cutting edge Canadian tax software - TaxFreeway for Mac
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Old Jan 11th, 2012, 09:56 PM   #18
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Honestly, the primary reason that I use these programs is so that I can NETFILE my tax return. For most people--myself included--a tax return is not particularly complicated. The error checking and automatic calculations are nice. But being able to submit it directly and quickly online is the reason I spend the money to use one of these programs.
All nicely answered Sonal, thanks.

Aside from the convenience of NETFILE, though, do you actually save any time preparing your return?
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Old Jan 11th, 2012, 10:23 PM   #19
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All nicely answered Sonal, thanks.

Aside from the convenience of NETFILE, though, do you actually save any time preparing your return?

I'm not Sonal and I'm not sure what you mean by your "actually save any time preparing your return" remark, as nearly all such Canadian approved tax software allows one to just enter one's required info, and any entered review and saving options when used are almost instant.

Personally I'd prefer to spend a bit more time on any tax preparation and possibly save MANY $$$ when doing so before using any NETFILE type submission.

IE: A small bit of extra time spent doing and checking any available options, which are almost instantaneous, can often save you a large amount of $$$$.
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Old Jan 12th, 2012, 12:44 AM   #20
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I'm not sure what you mean by your "actually save any time preparing your return" remark, as nearly all such Canadian approved tax software allows one to just enter one's required info, and any entered review and saving options when used are almost instant.
Sounds like we're on the same page. Without having used a program, it seems to me that you're still going to have to go through the same process(es) as you would filling out your return "by hand," so either way will take up about the same time. And since my returns involve a variety of investment incomes and claims, like you I try to make sure that I've covered every base. I was just wondering if tax programs made that any easier or quicker.

Case closed.
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