Do you do your own taxes?

[SeekingWealth.ca]

I'm wondering how many people do their own taxes here.

If you do, do you have any investment or rental income? Wondering if people that have more than just a T4 and a couple of T5s are doing their own taxes or paying someone.

And if you are paying someone, is it a CPA, CA, or a service like H&R Block?

TIA

[lizzie bargain]

We do our own and we do have investment income and my DH has to do US taxes too.

[SeekingWealth.ca]

Great, thanks for replying!

[saundyl]

I have been doing mine for the last few years. However during that time I was single with no investments only a couple donations, some medical bills and a couple T4s to put in each year.

[cdngal75]

We did our own this year using turbo tax and I will never again pay someone else to do it. So easy!

[Livelyone]

I used turbo tax this year for the second time and will continue to do so. No investments or rental income here, however from the looks of the software, I could see that being a breeze too. I like the idea of saving money by not paying someone to do my taxes, plus once you learn how to use the software it becomes easier each year.

[blueeyetea]

I've always done my own taxes and now my husband's, who has investments and needs to declare interest and dividen income. I've been using Studio Tax, which is free, for the last couple of years. It's a great timesaver.

[mulock]

I have been doing my own taxes with StudioTax for several years now.....and I must be doing a good job because the CRA hasn't come after me.

[PurpleBunny89]

I wonder about people doing taxes for someone who hasn't claimed in several years. Can you still do something like turbotax for that? Or is there a different program you need to buy or you just have to go to someone professional to do them?

[Michael Hogan]

I have done our tax returns ever since H&R Biock missed a large tax deduction that was listed on my T4.I pointed it out and they told me that they will re-do my return and to come back in 2 weeks to pick it up.I did pick-up in 2 weeks and they offered to do my return for the next year for free.I said not a chance and that I will do them myself.All you have to do is use the previous years return as a guide ,keeping mind that tha CRA guide has a section for what,s new every year.I have been bang on or within a few dollars every year.If you make a mistake CRA will find it whether it is in yours or their favor.Simple investments such as RRSP,s and interest earned as income are a breeze.When it comes to more complicated investments such as property,non eligible RRSP mutual funds and foreign investments use a service.I suggest that if you do use a service make sure that you check your return and make sure that you fully understand just what they have done- ask questions - you are paying for the knowledge.

[mariajames]

yeah I do my own taxes in Canada...

[Dan in Canada]

I'm an accountant so I obviously do my own but I also have a few clients I work with to save them money every year. I would recommend using an accountant if you have a small business or aren't sure if you're getting the most refund for your tax dollars. H&R Block is good for a very simple return but anything beyond that and you'll probably want to look elsewhere