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tax time #437249
January 30, 2015 03:30 pm UTC
January 30, 2015 03:30 pm UTC
Joined: Sep 2009
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ontario hamilton
Kirk Harding Offline OP
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Kirk Harding  Offline OP
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Normally i use h&r block but they charge too much and i want maximum refund. Should i do it myself or use a accountant?

Re: tax time [Re: Kirk Harding] #437250
January 30, 2015 03:50 pm UTC
January 30, 2015 03:50 pm UTC
Joined: Oct 2010
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Caledon, Ontario, Canada
Bryan Lawrence Offline
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Do it yourself, there are more than enough tools our there to do it and get the most back.


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Re: tax time [Re: Kirk Harding] #437251
January 30, 2015 04:06 pm UTC
January 30, 2015 04:06 pm UTC
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Posts: 995
ontario hamilton
Kirk Harding Offline OP
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When claiming do you need receipts for everything, I was told I can claim for tools, laundry and allsorts of misc things.

Re: tax time [Re: Kirk Harding] #437253
January 30, 2015 04:42 pm UTC
January 30, 2015 04:42 pm UTC
Joined: Oct 2010
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Caledon, Ontario, Canada
Bryan Lawrence Offline
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I personally use TurboTax and it walks you through everything you can claim.
The only thing I claim is my home office, cause the rest of the claims I make usually get rejected.
This website has everything. http://www.fin.gov.on.ca/en/taxcredits/


"Old Blue" 91 Talon TSi AWD
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Re: tax time [Re: Kirk Harding] #437254
January 30, 2015 04:46 pm UTC
January 30, 2015 04:46 pm UTC
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Halifax, Nova Scotia
Scott McIntyre Offline
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This page will give you a list of all the certified tax software available for doing it yourself. I personally use StudioTax:

http://www.netfile.gc.ca/sftwr-eng.html


Scott McIntyre
1997 Talon TSi AWD
2008 Mitsu EVO X MR
Re: tax time [Re: Kirk Harding] #437255
January 30, 2015 04:57 pm UTC
January 30, 2015 04:57 pm UTC
Joined: Oct 2010
Posts: 9,968
Caledon, Ontario, Canada
Bryan Lawrence Offline
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I might give that a try, have you tried any other tax software.
I wonder if you lose much at all if you use one of those free options, I will probably do both and can report back after.


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"Super Enthusiast" 91 Talon TSi AWD
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Re: tax time [Re: Kirk Harding] #437256
January 30, 2015 04:59 pm UTC
January 30, 2015 04:59 pm UTC
Joined: May 2003
Posts: 1,558
Mississauga, Ontario
Isaque Nunes Offline
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If you go early enough, H&R prices are lower... If you go right to the end, you'll get reamed! Yes doing it yourself if cheaper but like in my wife's case where she was audited. It was one phone call to H&R and I never had to worry about it again!
I've been using a lady at the H&R on Matheson and Mavis for over 15 years... Never been dissapointed


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Re: tax time [Re: Isaque Nunes] #437257
January 30, 2015 05:09 pm UTC
January 30, 2015 05:09 pm UTC
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Caledon, Ontario, Canada
Bryan Lawrence Offline
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Originally Posted by Isaque Nunes
Yes doing it yourself if cheaper but like in my wife's case where she was audited.
Kent this is the reason you will need your receipts


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Re: tax time [Re: Bryan Lawrence] #437258
January 30, 2015 05:27 pm UTC
January 30, 2015 05:27 pm UTC
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Posts: 1,558
Mississauga, Ontario
Isaque Nunes Offline
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Originally Posted by Bryan Lawrence
Originally Posted by Isaque Nunes
Yes doing it yourself if cheaper but like in my wife's case where she was audited.
Kent this is the reason you will need your receipts

Yes but you have to deal with Government and it can be a pain! That's all I meant. I'd rather pay a little more for peace of mind.
Cheers


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91 Talon TSI FWD-Car heaven
Re: tax time [Re: Kirk Harding] #437259
January 30, 2015 05:31 pm UTC
January 30, 2015 05:31 pm UTC
Joined: Oct 2010
Posts: 9,968
Caledon, Ontario, Canada
Bryan Lawrence Offline
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Yeah it's annoying but if your organized I really don't think it's too bad. I have been audited twice.


"Old Blue" 91 Talon TSi AWD
"Super Enthusiast" 91 Talon TSi AWD
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Re: tax time [Re: Bryan Lawrence] #437260
January 30, 2015 07:18 pm UTC
January 30, 2015 07:18 pm UTC
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Posts: 500
Oshawa
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Steve Rode Offline
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Oshawa
I have an Accountant that I pay to do the work. My wife and myself it's $140.

Now, in my case, I have four kids, one with a disability, so I'm always feeling a little better with a live person.

In addition, I've gone to him for non tax time stuff, which he offers free of charge as a long standing client.

He saved me tonnes of cash when I had my own business and the Feds came after me for more $$$.

I guess it really depends on your situation.

When I was on my own, I just did it myself.
Of course, back then, there weren't any tax software for my C-64. smile


'93 Tsi AWD AT, 16G Turbo,3" front to back
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Re: tax time [Re: Kirk Harding] #437261
January 30, 2015 07:27 pm UTC
January 30, 2015 07:27 pm UTC
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Posts: 1,950
Guelph, Ontario
Jeremy Gilbert Offline
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Steve nailed it - it is purely situational.

For example, I have only two sources of income: the university and the parts shop. Deductions are tuition, rent/utilities, textbooks...and one more I can't remember at the moment. It takes me a half hour to do my tax return with online software; the money shows up in my bank account within a week. It would be an absurd waste of money for me to pay someone to do my return.

Once you add things like kids, self-employment, disabilities, etc. there are so many oddball deductions that you are eligible for that it is almost always worth it to get a pro to do it for you. That $140 that Steve pays his accountant likely comes back to him in additional deductions. As mentioned, in the case of an audit, having your return completed by a professional always makes things easier (though as Bryan mentioned, if you're good with your receipts you'll be fine in an audit).

Think about how involved your return is, how much free time you have, and how much your free time is worth to you. Then decide if you're better off doing it alone or handing it to a professional.


1995 TSi AWD
11.7@119 1.8 60' - Curse of the Bad Driver
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Re: tax time [Re: Kirk Harding] #437262
January 30, 2015 07:41 pm UTC
January 30, 2015 07:41 pm UTC
Joined: Aug 2010
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Ontario, Canada
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Salomon Ponte Offline
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My uncle is a partner at an accounting firm so normally my taxes are done free of charge, but this year is a bit different since I now live in the States and have to deal with 2 tax returns. That being said, I agree with the above couple of posts.

I know you have a younger daughter (I believe) and probably have a number of work-related writeoffs as well as training and what-not so it may be in your interest to spend a bit and get some professional assistance.

In my case, I'll have to find somewhere knowledgeable in US & Canadian taxes to help me out this year.

Last edited by Salomon Ponte; January 30, 2015 07:42 pm UTC.

'92 Talon TSi AWD - 5 Speed/E16G/12.385s @ 115.13mph
Re: tax time [Re: Kirk Harding] #437268
January 30, 2015 09:10 pm UTC
January 30, 2015 09:10 pm UTC
Joined: Sep 2009
Posts: 995
ontario hamilton
Kirk Harding Offline OP
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Kirk Harding  Offline OP
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ontario hamilton
Yeah I have my wife and 2 kids to claim as dependants, the majority of my time was spent working in Alberta so I want to make sure that everything is done right. I used to do my own taxes in England but I knew my way around the system there.

Re: tax time [Re: Kirk Harding] #437298
February 02, 2015 04:42 pm UTC
February 02, 2015 04:42 pm UTC
Joined: Sep 2013
Posts: 782
Brampton, Ontario
Manny Sandhu Offline
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Kind of a commercial plug....but....my brother is a chartered accountant and last year started up his own firm.

Takes care of everything from personal tax, to tax planning to payrolls....you name it.

PM me if anyone would want to get in contact with him


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