Personal Finance

Studio Tax - Questions about credits & deductions

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  • Feb 4th, 2019 4:47 pm
Banned
Nov 9, 2018
31 posts
7 upvotes

Studio Tax - Questions about credits & deductions

For a newbie, does it provifde tax saving options like credits & deductions questions that are avialable in paid versions ?
11 replies
Deal Addict
User avatar
Dec 24, 2007
1811 posts
2410 upvotes
BC
NoStylist wrote: For a newbie, does it provifde tax saving options like credits & deductions questions that are avialable in paid versions ?
No, you sort of have to know a bit about what tax as it doesn't provide much in guidance on completing a tax return. You're better off using SimpleTax.ca (also free).
Banned
Nov 9, 2018
31 posts
7 upvotes
WetCoastGuy wrote: No, you sort of have to know a bit about what tax as it doesn't provide much in guidance on completing a tax return. You're better off using SimpleTax.ca (also free).
Just found about Simpletax.
But I am trying to avoid the online filing.
I guess if online filing is not an issue then one can use simpletax.
Plz dont mind by spelling as I lost my human writing skills bcuz of Auto-Correction, Auto-Spelling, AI & a lot of Auto -this & Auto-that.
Deal Addict
User avatar
Dec 24, 2007
1811 posts
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BC
NoStylist wrote: Just found about Simpletax.
But I am trying to avoid the online filing.
I guess if online filing is not an issue then one can use simpletax.
If you want to mail in the return, there is a Save PDF button in the Submit Section. Print the PDF, attach receipts, and send it to CRA.
Banned
Nov 9, 2018
31 posts
7 upvotes
Now the only thing I am concerned about is any personally identifiable information (PII), or sensitive personal information (SPI) that are stored online.
Lets say Simpletax website gets hacked then all the personal details are gone.

I will try them to see how it goes anyway.
Plz dont mind by spelling as I lost my human writing skills bcuz of Auto-Correction, Auto-Spelling, AI & a lot of Auto -this & Auto-that.
Deal Addict
Nov 12, 2014
1172 posts
1004 upvotes
Kingston, ON
NoStylist wrote: Now the only thing I am concerned about is any personally identifiable information (PII), or sensitive personal information (SPI) that are stored online.
Lets say Simpletax website gets hacked then all the personal details are gone.

I will try them to see how it goes anyway.
Do it manually then?
Banned
Nov 9, 2018
31 posts
7 upvotes
QN5252 wrote: Do it manually then?
As mentioned by WetCoastGuy, I might use the print pdf option.
Plz dont mind by spelling as I lost my human writing skills bcuz of Auto-Correction, Auto-Spelling, AI & a lot of Auto -this & Auto-that.
Banned
Nov 9, 2018
31 posts
7 upvotes
wra45mon wrote: Try TurboTax free edition
Thanks but the free edition does not provide assistance with credits & deductions to maximise refunds.
Standard edition (even though its paid vs free) suits my needs and thats why I have already requested coupon for it in the forum as banks offer 25% offer but the links are not working.
Plz dont mind by spelling as I lost my human writing skills bcuz of Auto-Correction, Auto-Spelling, AI & a lot of Auto -this & Auto-that.
Member
Dec 25, 2015
250 posts
187 upvotes
Brighton, ON
Studio Tax has a wizard to get the basics into the return. It also has features to optimize your return (particularly if you link your return with your spouse's). It will also remind you of any credits that may apply to you.

It costs nothing, so why not give it a try and see if you like it?
Sr. Member
May 26, 2009
588 posts
789 upvotes
Calgary
If this is your first tax filing and it is relatively simple, I recommend doing it manually on paper with a pencil. Then do it again in StudioTax and see if it matches. Keep correcting errors until they match.

I am assuming that you wouldn't have more a single digit number of receipts/T-slips. Even with no prior experience, you'll probably get through it in a couple hours. (Caveat: it's been a while since I've done mine manually, so my estimate may not be worth much.)

The reason that I make this recommendation, is that you will learn the details of the form as you go through it. With a basic understanding of the way the tax forms are processed, you will be in a better position to manage your taxes going forward.
Deal Addict
Aug 16, 2005
2756 posts
867 upvotes
North York
willowberry wrote: Studio Tax has a wizard to get the basics into the return. It also has features to optimize your return (particularly if you link your return with your spouse's). It will also remind you of any credits that may apply to you.

It costs nothing, so why not give it a try and see if you like it?
I've been using Studio Tax for many years and never had any issues. I've also tried other tax software including paid ones from friends who didn't need to use up all their returns and I got the same return amount.

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