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  • Feb 9th, 2021 9:44 am
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[OP]
Deal Addict
Nov 28, 2013
2501 posts
1024 upvotes
Quebec

Doing taxes half way

I know title seems strange.

We started to receive some papers t4 etc

But there is still some waiting to arrive

Is it a good idea to start doing taxes with what we have and then continue when we get the rest, or the apps can have issue calculating and we should wait getting all files first ?

Thanks
7 replies
Deal Addict
Jan 19, 2017
4091 posts
2327 upvotes
It depends on how user friendly the software is and how much tax knowledge you have. It sounds like you are not that knowledgeable about tax. It may be better to wait until you get all tax docs. Especially if you are using those tax softwares that calculate your tax based some kind interview questions. I.e. if a question asks do you a T5 slip, you answer no because you have not received one yet. But later on, you receive one, but you don’t know how to enter it because you already answered you don’t have a T5.
Jr. Member
Oct 8, 2019
127 posts
72 upvotes
End result will be the same...migjt as well wait till u have everything to that u dont overlook anything during interview process
Member
Apr 16, 2015
210 posts
291 upvotes
The only reason to do an estimate now is if you think you may owe tax and want to make an RRSP contribution before the end of the month to offset it. Otherwise, you might as well wait til you get everything.
Deal Addict
Oct 13, 2014
2148 posts
1384 upvotes
Just Moved To Somewh…
@ratatapa You might also want to sign-in to your CRA account and see if the slips have already been filed at the CRA. I know mine have as I do not receive any actual hard copy.
“Before one can have a Clue they must first accumulate 10 Inklings. That said, all it takes is one bad post and you erase all Inklings & Clues accumulated'"
Deal Addict
Jul 28, 2012
1016 posts
429 upvotes
Trois-Rivières, QC
Beware of false hopes when "doing taxes half way". For example, if you have a spouse and don't enter their information yet, the tax software might give you tax credits you are not entitled to (for example for dependents). Conversely, if you haven't entered tax slips (tuition, child care, RRSP contributions, etc.) you will have the feeling you are paying more taxes than you are supposed to.
[OP]
Deal Addict
Nov 28, 2013
2501 posts
1024 upvotes
Quebec
rcmpvet wrote: @ratatapa You might also want to sign-in to your CRA account and see if the slips have already been filed at the CRA. I know mine have as I do not receive any actual hard copy.
its mostly because daycare won't send us stuff before feb 22 and I know that Tax software don't have all the features unlocked yet
[OP]
Deal Addict
Nov 28, 2013
2501 posts
1024 upvotes
Quebec
airodyssey wrote: Beware of false hopes when "doing taxes half way". For example, if you have a spouse and don't enter their information yet, the tax software might give you tax credits you are not entitled to (for example for dependents). Conversely, if you haven't entered tax slips (tuition, child care, RRSP contributions, etc.) you will have the feeling you are paying more taxes than you are supposed to.
yeah im aware of that part

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