We may receive commissions on purchases made from our chosen links. Today's tax software and applications do more than just let you calculate your income tax and send in your return. Most tax software programs include tax planning features so you can analyze different income tax scenarios. If your business is a sole proprietorship or partnership , you'll be able to use any of the Canadian tax software in this article.
If your business is incorporated, your options are more limited as you need tax software specific to the T2 tax return. All these Canadian tax software programs and apps are Canada Revenue Agency approved and you don't want to use tax software or apps that aren't. There can be quite a difference in price, though, as you'll see in comparing costs of the versions of the software or web app that you would need to use the T1 tax form for a sole proprietorship or partnership.
All prices are in Canadian dollars. TurboTax is a user-friendly Canadian tax software program that lets you prepare your income taxes easily and quickly. The EasyStep Interview leads you through the tax preparation process by asking questions in plain English, and tax planning is a snap because of the ability to run multiple tax scenarios, and features such as the capital gains analyzer and incorporation analyzer. Desktop editions:.
Online editions:. The online editions do not do incorporate T2 returns. Mobile editions:. Note that for sole proprietors all versions provide the basic T form statement of business activities for nonincorporated businesses.
For those that need it, the more expensive editions provide "expert guidance" in the form of an extended interview format for self-employment income and expenses.
Import options : TurboTax desktop will import data from QuickBooks. With this pack, you receive unlimited tech support and customized tax tips as you create your return with ease. But what about filing? You can even schedule a follow-up interview to review your completed tax return.
One of the main benefits of using StudioTax over some of the other programs available is that you can download it locally and use it without being connected to the internet. This means that your tax return files will be safely stored on your computer Windows and Mac , rather than on the cloud.
You can even download the iOS and Android version of the program onto your mobile device for quick and easy access to your tax return on-the-go. Therefore, if you used UFile last year, you can quickly import all of your information from tax year. Unfortunately, at this moment in time, UFile does not offer a mobile version that can be used on-the-move. Nevertheless, given the low cost and all of the fantastic features available, UFile is one of the best tax filing software programs in Canada for and beyond.
It is clear that every single tax software on the market will allow you to do one thing: file your taxes online. That being said, some products come with extra features that make filing your taxes as easy as pie. In the section below, we have listed the key features to look out for when searching for tax return software suitable for your requirements, including auto-importing from the CRA and cost.
Given the current global situation, this is something that should be avoided. The second most important thing to look out for when selecting an online tax filing plan is cost. UFile is the ideal solution for rental income and property expenses, no matter the complexity. YES Welcome back Sign in to start or continue your return. NO Let's get started You'll see it's super easy.
Best tax refund UFile explores every possible tax-saving opportunity — automatically. Your Questions Deserve Answers. Enoch Omololu is a personal finance expert and a veterinarian. He also has an MSc. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade.
His top investment tools include Wealthsimple and Questrade. Another great tax package is Tax Freeway. One of the best for value and also I find it so easy to use. TurboTax is a user-friendly Canadian tax software program that lets you prepare your File taxes online easily and quickly. StudioTax now has Ios and Android versions for mobile devices your review above states otherwise.
Have been using Genutax for many years, and I am very happy with this program. I tried GenuTax and thought it was very good. I also tried StudioTax, but found GenuTax to be more user friendly and pleasant to use. I love it and recommend it to everyone. Northern living benefits and capital gains are simple. When you start a new year, your personal information is brought forward form the previous year, a big time saver.
If you are setup with revenue Canada the software can auto load your information slips, great feature. I can not comment on their support as I have never needed it. I recommend GenuTax without reservation.
Always had an accountant do it. But I suddenly found out that my accountant passed away last month.. Any suggestion as to how to go about it and which software service to use? You have a few options. TurboTax is very, very easy to use, and I would recommend it. As for your freelancer situation, I cannot help you with that, since I work full-time.
I will try to answer your questions and file your tax. But we need to talk about this first, if interested. My phone , Sunny. I have used both Ufile and Studio Tax software and found that they both do a great job.
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