Re: tax time
[Re: Kirk Harding]
#437250
January 30, 2015 03:50 pm UTC
January 30, 2015 03:50 pm UTC
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Joined: Oct 2010
Posts: 9,968 Caledon, Ontario, Canada
Bryan Lawrence
Senior Member, with Far TOO Much Time on Their Hands
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Senior Member, with Far TOO Much Time on Their Hands
Joined: Oct 2010
Posts: 9,968
Caledon, Ontario, Canada
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Do it yourself, there are more than enough tools our there to do it and get the most back.
"Old Blue" 91 Talon TSi AWD "Super Enthusiast" 91 Talon TSi AWD Checkout DSMFAQ.com!
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Re: tax time
[Re: Kirk Harding]
#437253
January 30, 2015 04:42 pm UTC
January 30, 2015 04:42 pm UTC
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Joined: Oct 2010
Posts: 9,968 Caledon, Ontario, Canada
Bryan Lawrence
Senior Member, with Far TOO Much Time on Their Hands
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Senior Member, with Far TOO Much Time on Their Hands
Joined: Oct 2010
Posts: 9,968
Caledon, Ontario, Canada
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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 "Super Enthusiast" 91 Talon TSi AWD Checkout DSMFAQ.com!
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Re: tax time
[Re: Kirk Harding]
#437255
January 30, 2015 04:57 pm UTC
January 30, 2015 04:57 pm UTC
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Joined: Oct 2010
Posts: 9,968 Caledon, Ontario, Canada
Bryan Lawrence
Senior Member, with Far TOO Much Time on Their Hands
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Senior Member, with Far TOO Much Time on Their Hands
Joined: Oct 2010
Posts: 9,968
Caledon, Ontario, Canada
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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.
"Old Blue" 91 Talon TSi AWD "Super Enthusiast" 91 Talon TSi AWD Checkout DSMFAQ.com!
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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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Joined: Oct 2010
Posts: 9,968 Caledon, Ontario, Canada
Bryan Lawrence
Senior Member, with Far TOO Much Time on Their Hands
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Senior Member, with Far TOO Much Time on Their Hands
Joined: Oct 2010
Posts: 9,968
Caledon, Ontario, Canada
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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
"Old Blue" 91 Talon TSi AWD "Super Enthusiast" 91 Talon TSi AWD Checkout DSMFAQ.com!
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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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Joined: May 2003
Posts: 1,558 Mississauga, Ontario
Isaque Nunes
Serious Member
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Serious Member
Joined: May 2003
Posts: 1,558
Mississauga, Ontario
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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
08 Mistubishi Lancer Boosted 91 Talon TSI FWD-Car heaven
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Re: tax time
[Re: Kirk Harding]
#437259
January 30, 2015 05:31 pm UTC
January 30, 2015 05:31 pm UTC
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Joined: Oct 2010
Posts: 9,968 Caledon, Ontario, Canada
Bryan Lawrence
Senior Member, with Far TOO Much Time on Their Hands
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Senior Member, with Far TOO Much Time on Their Hands
Joined: Oct 2010
Posts: 9,968
Caledon, Ontario, Canada
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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 Checkout DSMFAQ.com!
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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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Joined: Jun 2003
Posts: 500 Oshawa
Steve Rode
Serious Member
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Serious Member
Joined: Jun 2003
Posts: 500
Oshawa
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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.
'93 Tsi AWD AT, 16G Turbo,3" front to back '11 Evolution X, stock
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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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Joined: May 2010
Posts: 1,950 Guelph, Ontario
Jeremy Gilbert
Serious Member
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Serious Member
Joined: May 2010
Posts: 1,950
Guelph, Ontario
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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 PHP: 0
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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
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Joined: Aug 2010
Posts: 2,808 Ontario, Canada
Salomon Ponte
Insane Member
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Insane Member
Joined: Aug 2010
Posts: 2,808
Ontario, Canada
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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
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