I know we still got 2 more months to go but those of you who contribute to RRSP's probably want to get it over with....and do you file them yourselves or get it done by an accountant?
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I know we still got 2 more months to go but those of you who contribute to RRSP's probably want to get it over with....and do you file them yourselves or get it done by an accountant?
I did my own return.
It's a good idea to verify that your slips have the correct amounts. Have heard of one workplace that entered a wrong maximum amount (too low) on employee T4s and now everyone will have to file an adjustment form on that one amount on their returns.
I filed a couple of weeks ago and received my refund on Monday. I used Studiotax which is free, and did it myself. I've also convinced about 4 other people to file themselves this way instead of going to HR Block or an accountant. For people with one or a few T4s and only a few deductions it seriously only takes 20 minutes to figure it out and bang it off. I think everyone should know how to file basic returns. People are out there paying $50-$60 or more for something it takes 20 minutes to learn to do themselves.
We use Ufile. We haven't gotten around to buying the software yet (easy), and our T-4s only came about a week ago. I'd totally recommend Ufile; taxes used to make me pull my hair out much more than now. Normally it takes us a few days to get it done once we get the software and the paperwork. This is why I like Ufile, I can work on it for a bit until I get pissed off and save it for tomorrow. This is no fault of Ufile; while the software is easy, honestly, who designs these forms? Take your income, multiply it by the age of your children divided by how much you spent on groceries in the week of March 4 - March 10, 2007 that would make as much sense! You can tell if I've been filling out the forms, my hair stands up because I'm always running my hands through it in frustration. Fortunately my DH does most of it. :)
Haven't received my T4 yet.
Ours are done - no refund this year for either of us :(
That's not a bad thing. It means you didn't lend the government any money and kept it in your own pockets. :top: I wish we weren't getting any refund.
I filed both on March 1 (Friday), they were assessed March 4 (Monday), and we'll be getting our refunds on March 11 (following Monday). Yay! :blob9: I just like having it all over and done with. The leftover paperwork was even shredded and is going to be collected in the next few days. A clean office! Double yay! :blob9:
Edit: Oh, and no accountant for us. We each have about seven lines to input, so that would be silly. In the years DH worked from home, he did have an accountant to calculate depreciation on his car, computer, etc., but he has a regular T4 now. My parents used to send mine to an accountant as he handled their business taxes as well, but when I found they were spending $100+ to input my student tuition carryover (and zero income), I said no way!
Why let accountants have all the fun? Heck, I'd do other people's taxes if they'd let me. :cheesygrin: At least I get to do DH's tax return.
made our tax with ufile(every year) and send in via netfile on friday march 1. . mine was assessed monday(refund comes march 11.) hubbys isn't assessed yet..........we'll get a biiiig refund this year...yay.
I just did mine at H&R Block Online.
I am expecting a return of about $1,500.
Not too bad this year. Last year I paid $700
So this is much better. :)
I love doing taxes and used to use UFile, but for the past few years, I've been using a tax specialist who knows way more about taxes than I do!
used StudioTax for the first time ever....easyish to use, but then again, I normally do mine by hand then used telefile to file....one of us will get a refund, the other will pay in because of being on UI for a large portion of last year....we 'should' know to take extra tax off that, but when you are on UI you kinda need every dollar and then some to keep on paying rent and bills
netfiled last night for the first time ever as well, let's hope the one who gets the refund will be in soon!
I haven't done mine yet as I'm debating whether or not I should get it done at H&R block. I normally use ufile but I found out that I should be getting some $$ back for tuition and books.
DH and I do our own, using Turbo Tax, we're both accountants. I agree with people who only have a couple items (T4, some RRSPs, tuition) to do their own. It's really not complicated and the software available is really helpful.
Still waiting for some of my paperwork to come in.
i haven't done mine yet
but will file online as always.
If you have a CRA account online (or create one) you'll have access to your T4 there. We haven't got Dh's yet. We moved almost 2 years ago HR at the bank is just catching up with his address change. Things move at a glacial pace at best.
Did ours today and submitted them with TurboTax (30% off for bank employees)
My husband finished my taxes yesterday; he still does it the old fashioned way, although he mentioned something about perhaps it's time to move to a program like everyone else. He leaves his for last because it is a lot more complicated with car expenses, etc.
Costs of books and tuition are calculated as a credit. Depending on how high your income is, it wouldn't necessarily mean you're automatically getting a refund, just that you're paying less taxes. It's pretty straightforward to calculate. Get yourself a hard copy tax kit and plug in the numbers from the tax receipt you get from school as explained in the kit and on your receipt. Just make sure you multiply the right amount based on the code that idenfies the type of course you took. Here's the schedule to calculate the amount on line 323:
http://www.cra-arc.gc.ca/E/pbg/tf/50...00-s11-12e.pdf
Wow!! Submitted them yesterday, and they were assessed and refund will be in the bank next thursday. Happy Day.
after they assessed my tax monday,they finally assessed my hubby's today(money will be there next thursday...)
Just finished mine...not getting back much money though.
Electronically file is the way to go.
Don't forget to subtract your shoe size. I always forget that part! :p
We use turbotax. Between the 2 of us and our northern deductions and crap I like the software cause I can play around with various scenarios. I did it by hand until hubby and I moved in together. Then it got to frustrating.
I filed the other day. Just waiting for the refunds.
Just went to H&R yesterday, can't wait to get the return. Mine is simple but DH's is way more complex.
I'm waiting on my second RRSP slip from Manulife then i'll be all set to do them. I've done them myself last 3 years, can't believe I used to pay H&R block
so i just finished doing my taxes online, on a saturday night no less
i'm supposedly getting back, $750.00
Used ufile and then netfiled it. Funny how they they calculate income tax. I only.made roughly $600 more than last year but I paid an extra $200 in income tax.
Three of us got our refunds deposited today!! Yippee! Thanks Studio Tax!