Personal Finance

Simple Tax vs. Studio Tax?

  • Last Updated:
  • Mar 7th, 2018 8:11 pm
[OP]
Member
Jun 28, 2011
401 posts
106 upvotes
VANCOUVER

Simple Tax vs. Studio Tax?

I'll be doing my taxes myself this year instead of getting my accountant to do them. (save $$ and attitude from her office)
I'm deciding between Simple Tax and Studio Tax and curious which one redflagdealer's prefer and why.
Simple Tax gets a lot of raves on the reddit forum.
Apparently Simple Tax stores data on their servers which makes some people nervous. (hackers, etc.)
I set up an account with Simple Tax and it's very user friendly. I'd like to download Studio Tax to see how the two compare.
Anyone do this - file with one program but check data with another?
14 replies
Jr. Member
Mar 30, 2010
145 posts
167 upvotes
Toronto
Both seem to have the same features, and I've checked their accuracy side-by-side over the past few years and they get the same results (my taxes aren't that complicated, though). SimpleTax is definitely easier, although it does have the downside that everything is stored online. StudioTax is a program that you download and install on your computer so none of your data goes anywhere until you NetFile.
Member
Oct 15, 2009
455 posts
182 upvotes
I've been using both for the last 2 or 3 years. I use Studio Tax to actually file, and double check the numbers in simpletax. Never had any issue doing it this way, though haven't come across a problem that required it either. Just do it for peace of mind.
Sr. Member
Jul 1, 2006
754 posts
584 upvotes
Have used StudioTax in the past, but am giving SimpleTax a try this year. The SimpleTax UI is a breath of fresh air. So far, it is one of the most 'pleasant' tax prep experiences I've had. As much as one could call taxes pleasant anyway. ;)
[OP]
Member
Jun 28, 2011
401 posts
106 upvotes
VANCOUVER
Thanks to all who responded.
I'm wary of my data being stored online with SimpleTax but the format is very user friendly from what I've seen.
I've downloaded Studiotax and I like being able to see the info as I would enter it on the forms.
I'll probably use Studiotax and verify that the numbers are accurate with SimpleTax's format.
Deal Addict
User avatar
Aug 1, 2007
1426 posts
218 upvotes
I've been using Studiotax since 2007 or so and I've never had any problems.
Deal Addict
Jul 28, 2012
1026 posts
448 upvotes
Trois-Rivières, QC
travelandshoppingwoman77 wrote: I've downloaded Studiotax and I like being able to see the info as I would enter it on the forms.
I like doing that too :)
SimpleTax offers that possibility as well (preview the forms) but only after you have validated/optimized your return.
Sr. Member
Dec 16, 2006
584 posts
118 upvotes
Central Ontario
Chickinvic wrote: I use Futuretax.
SimpleTax and StudioTax are free to use with donations accepted.
Futuretax is a paid for software.
Jr. Member
Jun 12, 2017
130 posts
54 upvotes
I just switched to SimpleTax this year and the layout is amazing. I'm a big fan
Sr. Member
Aug 20, 2015
515 posts
305 upvotes
Toronto
The only issue I have with simpletax is that if you forget your password you basically have lost all the info you had previously, as you have to delete your account and start a new one.
Also when I was trying to remember it, it doesn't seem like the site blocks you after a certain number of attempts.
Deal Addict
User avatar
Dec 27, 2011
3519 posts
1780 upvotes
Waterloo
I'll be doing my taxes soon and debating between these two programs. Do either (or both) of them give you prompts or ask about all the various tax credits (or at least the most common ones)?
Deal Addict
Apr 18, 2013
3513 posts
1618 upvotes
Canada
I was using Turbotax for years and last 2 years switched to SimpleTax and I love it.

Anyone know how to change your default email address in SimpleTax?
Sr. Member
Jan 14, 2010
666 posts
207 upvotes
Central Ontario
Regretfully purchased TurboTax this year. Giving me headaches galore. Calculating tax rates incorrectly, numbers jump whenever anything is changed (ie: even selecting language of correspondence causes flashing/recalculations on my QuickGraph summary). Spouse that makes $10000 less than other somehow has a significantly higher (20+%) marginal tax rate (with no funny business with deductions/credits). Won't pull saved in progress returns to home screen after an update (telephone support tells me this is normal, but I've used it for years and have never noticed this issue).
<end rant>

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