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It is Tax Season again – Using Studio Tax

Every year we file our tax return to CRA. This year, I still recommend Studio Tax for the normal people. Normal people means, the people are not investor, not boss, not an officer. If your main income is from employment, Studio Tax is right for you.
It is the sixth year, I am using Studio Tax. It is a free software for personal use. Max 20 returns.
It is still early. So only pre-certified software can be download here.
When CRA review the software and make it certified, the you can update the software and make the return online.

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Studio Tax 2011

I use Studio Tax to file my tax return for 4 years. Now it is the fifth year.
The CRA certified version of StudioTax 2011 is Free and available for download.
It is totally free if you use it for your own,or your family member’s tax filing.
If you are a tax preparer, then visit www.studiotax.ca to learn more about StudioTax Enterprise and to download a risk free fully functional trial copy(EFILE and Print functions included).

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Free Canadian personal income tax preparation software

I used Free Tax Software last year. Filed my tax return only through this software.
StudioTax.
I recommend it again this year.
It is NETFILE certified already for 2008 Tax.
I downloaded it and installed on my desktop. Because I have the 2007 tax return file with Studiotax. I just import 2007 file into it and no need to re-enter the personal information.
Just double check the information and enter my 2008 data.
Now I am waiting my T4 from the company and T5 from bank, HSBC.

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Tax season coming

It is tax season again.
Now I would like to introduce another one. One of the most famous Tax Software.
Premium + State Taxcut Software by H&R Block
They offer a range of products, all of which are supported by H&R Block tax professionals:

* With our software and online tax solutions, access to a real, live tax pro is available — so you will never get stuck. Guaranteed. Help is just an email or phone call away!
* Those who e-file their federal returns receive audit representation from an IRS-Licensed Enrolled Agent should it be necessary.

The premium version is $19.95. But you still can find the online version to meet your tax filing needs.
Check their TaxCut Online Product Comparison Chart. The Basic + E-file is only $14.95.

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Top Ten Tax Changes for 2005

In Tax Tips for Canadians “for Dummies” 2006 edition, one chapter is focused on Tax Changes for 2005 Tax year.
I trust over 50% Canadian donot know about it.
The followingis highlight these ten changes.
1) Tax credit for adoption expenses
For 2005 the total amounts claimed by the parents cannot exceed the lesser of the actual adoption expenses and $10,000. Eligible adoption expenses include fees paid to an adoption agency, travel and accommodation costs for the parents and child, court, legal and administration fees, and document translation fees.
2) Increased retirement savings limits
The maximum amount you may contribute to your RRSP will increase in future years (although you are still limited to 18% of your earned income). The limit for 2005 is $16,500. The limits are scheduled to rise to: $18,000 for 2006, $19,000 for 2007, $20,000 for 2008, $21,000 for 2009, $22,000 for 2010, from 2011 the limit based on the indexed to inflation.
3) Increased investment choices for retirement savings
The 30% foreign property investment limit is eliminated from 2005. That means 100% foreign property in the RRSP/RRIF is allowed.
4) Improved tax assistance for disabled persons
Since June 2005, the maximum Child Disability Benefit supplement to the Child Tax Benefit has been $2,000.

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Canadian Tax Software

taxabacus

I sent my TAX forms to CRA today.

Now I want to introduce some Canadian TAX Software.

www.cutetax.ca
Free without printing.

www.taxcel.ca
Unlimited Tax returens, $8 only.

www.mytaxexpress.com
Free download, free while income under $25,000. $6.08 per person.

www.genutax.ca
Once you purchase GenuTax, annual tax updates for future years are free. You will be able to prepare your tax returns for 2005, 2006, and beyond, at no additional charge.
The only risk is that GenuTax is closed.

www.taxtron.ca
Free under $30,000. $11.88 each.

I filled in the form and calculated return myself, use the Tax software as double check tool.
Know more about tax, you will save more.

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