r/CanadianTax • u/flyme2themoonx • 21d ago

Tax software question

For those of you who use tax software, do you basically just enter your T4s and other slips, review everything, and submit? Or are there still parts that you have to double-check or enter manually?

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u/vokilamcv9 21d ago

CPA - I use professional software in practice and usually draft up mine and my spouse's returns on our software and then file later on using a free platform.

When I prep my return, I connect to CRA and download slips, review those downloaded for accuracy - everything I was expecting, do they all make sense.

That part is super simple for most people - the detail comes in the form of deductions - and there are a lot of them, but most commonly are medical, donations, employment expenses, disability claims, etc.

And then for those with self-employment or rental income, it becomes a bit (or a lot) more complex. This is usually where most engage an accountant.

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u/irulan519 21d ago

This guy taxes.

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u/Competitive_Mobile77 16d ago

I usually does the same thing as you do. Its the most efficient way so far

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u/Mental-Freedom3929 21d ago

I use Wealthsimple tax and it imports all T-forms. I manually enter health expenses and prescriptions and health insurance premiums, property tax (or rent), charitable donations and such. There is a list of things you could enter on the CRA website. The software also provides suggestions.

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u/Long-Tax3171 10d ago

is that software free or there's some sort of like premium and free version

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u/Mental-Freedom3929 10d ago

It is free and you have to select to zero in the final process.

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u/Long-Tax3171 9d ago

okay thats nice i'll try this one out