Tax Software Discussion 2011

[JWL]

I noticed that a tangential discussion of tax software started in another thread (and undoubtedly will again in Hot Deals for every tax software deal posted), so in hopes of having one central discussion........

The contenders are......

Turbo Tax (previously Quicktax)
Online and CD editions from $20 - $100: Basic, Standard, Premier and Personal & Home Business.
Free online if your income is less than $???? (has been in the past. Online version isn't available yet)
Netfile compatible in 2009, seeking certification in 2011
Standard version from Staples includes Quicken Cash Manager.

Ufile
Online and CD editions from $16 individual - $25 family
Free if you qualify - several reasons including income <$20K, over 60 years old, post secondary student.
Netfile compatible

Studio Tax
FREE!
Netfile compatible

Tax Freeway
$10 for Windows
$15 for Mac
Netfile compatible

GenuTax
$40 for multi-years (free updates in future years)
Standard version does not support Quebec return.
Netfile compatible

TaxTron
$13 for single return (+ 19 returns under $30K)
Netfile compatible

Cantax
Price ????
Netfile compatible


DISCUSS!

[JWL]

Posted by Method76

I use Genutax. I paid less than $40 (can't remember) only once for this product. I have been using this product since 2006 and having been preparing returns for my family every year since.

I have received my 2012 software version update via email for 2011 tax return already. I have received an update every year since 2006.

So basically, you pay $40 + tax once and get to process tax returns for up to 20 returns every year in the future for free. So if you plan to use it for the next 4 years, that's $10 per year for the whole family.

I have used this software for small business (non-corporate) tax purposes as well. It allowed me to use netfile as well in the past couple of years.

Its great. They do ask for a donation every year which I pay for. but it's up to you.

Discussion of software on About.com

http://sbinfocanada.about.com/od/tax...axsoftware.htm

there is a 30 day trial for you to use and see if you like it.

http://www.genutax.ca/

This works for me. It may not be for you, but it's another option out there. I have been using this software for 6 years and paid less than $40.

NOTE: THEY HAVE NOT RECEIVED THEIR NETFILE CERTIFICATION FOR 2012 YET. They have in the past and I have been using it ever since. But I thought I warn you just in case, I'm sure they will have it. But I'd wait for it before I purchase it.

2011 Netfile certification as per CRA (Genutax was approved in 2011):
http://www.netfile.gc.ca/sftwr2011-eng.html

2012 Netfile Certification as per CRA (has not been approved yet - see Genutax's website for more info):
http://www.netfile.gc.ca/sftwr-eng.html

FROM THEIR WEBSITE:

1. With GenuTax Standard, tax year updates for future years are free. What's the catch?

There is no catch. We have developed GenuTax Standard under the same model as other software companies that do not produce tax software.

For example, consider your favorite office suite software. The company that produces your office suite software continues to release a new version of their software every few years. The new version contains new features. If an existing customer wants these new features, they can upgrade their software for a fee. If they don't need the new features, they can continue using their older version of the office suite software. They are not forced to upgrade.

With GenuTax Standard, in the future, we may release a new version of the core software with new features. If an existing customer would like the new features, they may upgrade their software for a fee. If not, they can still continue using their older version of GenuTax Standard with the free annual tax updates.

[wayne74]

I've been using Turbo Tax since 2005, and I like that one myself. I do my own, as well as family and friends returns every year with it. I like it's interface. I guess you just get used to something, and it makes it hard to switch to another program.

[yupkime]

Don't forget H&R Block ... the interface is nice.
I also try U-File and Turbotax Online.

Best thing is to try 2-3 of them and make sure they all have the same result!

[diav]

Used UDoTaxes last year and it was fine, maybe that should be included in the list? I'm not sure whether the developers are updating the software at the moment since their site still only has the 2010 version.

[SnoopDop]

The CRA certified update for StudioTax is available NOW. Go go go !

[punisher101]

I use Turbotax. Very easy to use and this I was offered discount this year ended up paying $12 something after tax.

[jebise]

My dad is old school so we hire an accountant, and he comes over and uses StudioTax (yeah free money for him). Been using StudioTax for 3 years now and its alright i guess. This year i convinced my dad and we are going to do it our-self. I don't like StudioTax is some what confusing and i don't think i get the best return from it and wanted to try TurboTax but just not sure, I need something that's easy to use and does not mess us up with the transition from StudioTax.

Will i be able to import my previous years returns? So i don't have to start from scratch and keep my carry forward amount.

PS What about UFile
Is 20 bucks at bestbuy and at that price is very appealing. But just unsure coz we have 2 houses, RRSP, tuition etc.

[Clacker]

I like Tax Freeway, but I also, always double check it using Studio Tax as well.

[SnoopDop]

PS What about UFile
Is 20 bucks at bestbuy and at that price is very appealing. But just unsure coz we have 2 houses, RRSP, tuition etc.

I've tried Ufile and other software, and I beleive UFile is the most accurate and complete/versatile personal tax software.


BTW, I read many people here say CRA uses a modified version of UFile. Any proof/source to substantiate these claims ?

[dibksbgon]

Use TurboTax. Split a copy between my parents (who use it for my brother, my grandfather, and my mom) and my husband and I (my parents mailed it to us) as it can be installed on two computers. Got from Costco for under $30. If you are willing to split it amongst the family it is not very expensive.

Works well.

The only thing I notice that if you want to do something out of the norm like carry over RRSP deductions (not exactly out of the norm, but according to TT it is) you have to go to the HELP section, search for RRSP carry forward, and hit TAKE ME THERE in order to get a bunch of RRSP questions it does not as during the personal profile. I know the Schedule 7 is what I want to edit in order to do this. But if you hit Forms to see the actual forms it does not let you EDIT the fields. Turbo Tax comes up with a message saying something like "Usually you do not have to edit the fields...". I would rather it ask me many more questions during the personal tax profile so if need be, I can just go back to that section and hit something if I forgot, then have to search for the questions in order to bring up the fields.

Besides that, easy to use.

[richardvoyageur]

I've been using Studiotax for free for 4 years and have no issues. Why do people pay for tax programs? They want to import files from previous years or something?

[RandomSanity]

I've used Ufile the past few years while I was a University student, I'll be trying out StudioTax this year when my T4 is up at the end of February.

[spud2004]

National Bank link from last year but still shows 30% discount for 2011 Tax Year


http://turbotax.intuit.ca/tax-softwa...employebnc.jsp

[big4orbust]

Another alternative is to use download the trial versions for ProFile (http://profile.intuit.ca/professiona...gistration.jsp) or Taxprep (http://www.taxprep.com/en/services/download.asp). You can then do the return (for free!) and print out the forms that need to be filed. You would need to re-fill in the forms physically but this is a pretty neat workaround to get a "free professional program" if you're planning to paper file anyways!