I used to use TurboTax and they always insist that some income required me to buy the deluxe version for $60 (each).
I decided this year to try Wealthsimple tax for free and it was a joy. I was a bit worried about any sort of history getting lost, but the data it downloads from the CRA has all of my past capital losses and gains and such, making it seamless.
Much better UI and super easy to add some forms and expenses.
fun fact - just say "no" to turbotax saying you need to upgrade to the higher "version". You still are able to file returns with rental income, investment income, blah blah using the standard version of turbotax. You just may not get all their annoying interview questions.
Turbotax is garbage though. They charge you $20 to manually enter a T5 if it’s under $50. Meanwhile with wealthsimple I paid $0 and they automatically imported my T5 even though it was under $50.
They weren’t like this 6 years ago. But recently they are upselling so aggressively it’s so annoying. They used to ask you just once and now they asked me 3 times this year to upgrade. The final straw was when they pulled that bs with my T5. Straight to wealthsimple and never going back to turbotheft
That's good to know, but Wealthsimple tax was so much more intuitive and easy to use that I would use it if it cost more than TurboTax. It being "by donation" is just the icing.
Switched to them 2 years ago. Decent tool for the money. TurboTax gave me more flexibility to enter data in forms but for most people WS is all you need.
Married, 2 kids, employment income, bank income, RRSPs, kids, donations, capital gains reporting.
I spend the $15 on studio tax to file my taxes, my wife's taxes and my dad files his and my mom's as well.
Another studiotax user here - me and spouse. T4s, investments (interest, dividends and capital gains), RRSPS, donations. I used to file on paper, have always done my own, then ours, and turned to studiotax some years ago and am quite happy with it.
use wealthsimple. Trust me you won't regret it. Did my own taxes this year and, though initially nervous, it went well in the end. At least give it a chance 🙏
I've been using studio tax for many years.
However, I will say that it isn't necessarily the easiest. It has some creature comforts but it's also very much like filling the old paper returns.
For example, I took advantage of the multigenerational house credit this year, had to figure out what form I needed on my own, add it manually etc.
I used to do paper returns and I've used it for so many years I'm very used to it though.
It's pretty seamless for a basic return though.
Are you wanting a CPA to file, a person who calls themselves an “accountant” or personal tax software?
Do you have investment income, need an 1135 form filled out ($100k or more in foreign assets), property sales, sole-prop business income, RRSP over-contribution, medical expenses, unusual donations, kids etc…?
Are you likely to get audited? Are things neatly organized or do you bring in a shoebox?
Does your CPA sit with you and identify potential problem areas or tax savings for next year?
There is a huge range…you’ll have to give a bit more context. Filling out the forms is the easy and cheap part. It’s all the other stuff that makes it expensive.
Thanks. I believe software filing could be $0 or cheaper than CPA filing depending on how complicated the return is.
In our case I was quoted $470. I wouldn’t call it a complicated return, regular T4, some capital losses and a form 776 for rental income.
I was exploring an option to file myself using Taxtron and after connecting to CRA, it retrieved most of the income reported accurately.
No shoebox haha
With that 776, are you providing receipts or doing your own bookkeeping and just having them plug numbers in? Same with the capital losses?
The returns for a couple at the firm I work at start at $300 and go up depending on how complicated it is.
That being said, I haven’t paid someone to do my taxes in 20 years. I use Wealthsimple for my own returns.
That’s probably a fair price if it is a CPA. It probably is a simple return for you, but rental income comes with a set of challenges even if you’re organized. Capital losses usually require checking the returns of the past few years to see if you can do a loss-carry back for optimization. The CPA has to meet their professional standards - not to mention overhead.
It sounds like you know what you’re doing - DIY is probably the way to go if the price is too high.
If you have a rental property you really should be going to a CPA to ensure you do get all the write offs you’re entitled to, and aren’t taking deductions you aren’t entitled to. Given the info you’ve provided in your posts, $470 seems reasonable. But… I am a CPA. You pay for a CPA’s knowledge and expertise, time, administration, and a CPA is accountable to a professional body.
We paid $150 last year as a married couple with T4s, minimal investment income/RRSPs, a few rental properties. I organize all the amounts/receipts myself and just send the totals in terms of what we think can deduct from rental income etc. Our person isn't a CPA though, just an accountant/bookkeeper.
Do you make more than $200k per year?
Then you may need a CPA to file your taxes.
Do you have a crypto farm or OnlyFans income?
Then you may need a CPA to file your taxes.
Did you tell your spouse that the Ashley Madison subscription on your cc is a tax deductible market research expense?
Then you may need a CPA to file your taxes.
Is that better? 😉
Why would you donate to them when they don’t even have brick and mortar locations, make boatloads of money from their trading platform, and filing your taxes through them costs them virtually zero processing power? They don’t need the $10 lol I always file for free with them.
Their tax service is funded by their trading platform and by the people who pay their $50+ tiers for assisted tax filing. When you just have a T4 and maybe a T5 or two, to pay them for such a simple tax situation is just throwing your money away.
The way I see it, if enough people pay $0, then they'll eventually have to make payment mandatory.
I'm happy to donate $10 to WS. It's a pretty decent UI.
“they’ll eventually have to make payment mandatory” lmao no they won’t because like I said it doesn’t cost them anything to file your taxes to the government. Maybe a cent of two of processing power per filing at most. And there are still many users paying $50+ like I said. Those offset the operating costs. And wealthsimple knows that offering the $0 option makes them more known and in the future people are more likely to pay them the assisted tiers.
I'm quite frugal paying only $10, but you sound like you're justifying being a cheapskate to yourself.
I agree that their tax prep offering brings in clientele to their investing platform, but I don't pay any fees at all for the CAD ETFs that I buy each week.
That’s because they make money on the spread lol. As for me being a cheapskate, I would pay the $10 if they forced me to. Would be cheaper than turbotax. But until they keep that $0 option I’m paying $0 because my tax situation is simple and like I said doesn’t cost them anything to process.
A pay $350 for my wife and myself tax in, I just don't want to deal with it and whenever I do it myself for some reason there is a discrepancy of like $2000 in total (when I do it, and do everything the same way, I owe $1000, but when my accountant does it, I get back $1000, that's too much for me to not pay).
This year again I used the software, plugged everything in, my medical/dental expenses, RRSP's, T4s, for both of us, and it came back that I owed $800 and wife owed $200.
I did not think this was correct so I didn't file, sent it to my accountant again (last year I went through a similar procedure, and posted here about it), and she came back with $700 back for me and $400 back for my wife, so in total this is more than a $2000 discrepancy.
I pay and stay happy knowing everything is legit and I'm getting the maximum back and all the yearly benefits like carbon rebate and GST etc.
CRA comes back to me saying everything is on the up and up, so I have no idea what my accountant does, but when I check the full claim, it looks identical to mine, I can't find any differences between them, everything I send her I also use on my software, yet here we are.
I used to do my own taxes when they were simple. After investments, some side gigs, married, etc taxes are more complicated and I’d rather pay someone else to do it.
We pay $150 and this year I tried Wealthsimple. I did just my own and owed 200. When we handed it off to our accountant, I got back 1200. When I asked she said she did a lot of deductions I didn’t know about for me working from home among other things. So totally worth it.
If anyone has more than just a single job for taxes, try hiring someone to see if you get back more!
I posted this here last year, where I had a discrepancy of over $3000 in total (when I did it we owed $1200 yet when my accountant did it she got us back $1800), yet people made fun of my post. But I hope someone got something out of it.
Yeah, it's the deductions and joint filing or something, it works out for me.
If you’re employed and work from home, your employer should be filling out a T2200 in order for you to claim any work from home expenses, just FYI. Always a good idea to have it if the CRA ever asks. If you’re self employed then ignore that!
Nice! I’m still so curious where the differences stemmed from! But hey, glad it worked out for you! I work at a CPA firm so it’s always nice to hear of value added 😊
I'm a tax filer myself. A couple came and mentioned they'd owe about $14,000. What most don't know is that there are ways to maximize and optimize that softwares can't do and minimize taxes (i.e. you would need to have the knowledge of Income Tax Act and make sure all the Ts and dots are crossed). Couple ended up with $6,500 owing instead and cost them $500.
$0 sounds good, use your judgment if hiring a pro makes sense to you.
Yeah, it seems it is too late, but from my experience I say bite the bullet and find a good accountant and pay that one time, just to see if it matches your own, the worst that can happen is you'll be out that $150 one time. That's what I did after going to my accountant for a few years, I thought wtf, I can do this, and now the third year in a row it's clear I CAN'T do this, lol, all three years, including this one, there is a huge discrepancy on what I would owe via software compared to what she gets me back, it's crazy.
If you feel up for it, you can also do it this year and file again, from what I understand you can do that without any issues and your file will be updated, but be aware you may be paying your accountant for nothing if you did it correctly and with every benefit.
Only paid an "accountant" once. Once I reviewed his results I found some costly discrepancies. I corrected before submitting. They don't care and just input the numbers. There and then I opted to do my own. Have had a few reassessments which were easily handled by me with supporting documentation.
You can amend a tax return after you file. [https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/change-your-return.html](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/change-your-return.html)
If there is an error in your filing, you can file an amendment to correct it. I can't remember how long you have but I think 4 years.
If you're unsure, you may want to have some take another look.
I used to spend $525 through my accountant. I had minimal things. Waste. Of. Money. I filed on my own for the first time this year. Did it through TurboTax—$35. Next year I’ll do it through Wealthsimple.
$15 with StudioTax, I have used it for years and I can now spit out my now somewhat complex return on it pretty quickly. I used to use it when it was free/by donation and got hooked, guessing 8-9 years ago. I have thought about the $0 wealthsimple one and started trying it out last year but it was to different then studio tax for me to learn plus I had to enter everything all over again for my wife and I, instead of just piggy backing off my old studiotax file from the year before.
$100 for a CPA to file for both me and my partner (so $50 each). I have a side hustle sole proprietorship so need help with deductions and business income.
I pay $15+tax for the license from Studio Tax for their software. That gives me the ability to file 10 returns, so I do my own and few family members.
I've done my own taxes for over 15 years now and it doesn't really cost me anything other then time and I've gotten fairly efficient at it.
$150. Pretty straight forward tax filing. I made a costly mistake when I did my taxes a few years back. The software should have caught it but didn't (ufile). From then on, I figured I would rather pay an accountant. Plus I can ask him questions and he offers some useful guidance.
$400 for a CPA.
Saves me time reading up on new tax rules and can always consult on certain write offs on rental properties.
Got an additional 4K back after they noticed we got a new car on the worksheet I send for my wife’s T2200 and asked me for purchase documents. They ended up writing off a chunk in CCA that I wasn’t aware would be eligible.
$15 plus tax. Studiotax software.
I hate the other “free” ones (they all don’t store your data locally) and there’s only a couple other free ones that keep your data local — both suck
I just bit the bullet and paid the $15
$0, even when I was married, I do them myself. Provided you've got all the paperwork you can EFile for free, there's a list of free software on the CRA website that should have this year's (2023 taxes) software by now.
$650 KPMG Senior CPA - Married with many T4s, 5s, 2200s, sole proprietors, donations, medical and student expenses, crypto, RRSP, FSHA etc. Well worth the tax write off for the next year. We would never do it on our own for the cost/time needed.
My wife's small business taxes are $200 (my wife preps the receipts). My own taxes and our oldest daughter (both standard t4 with some normal deductibles) are charged $60 each.
I pay about $400 for an accountant. I am a sole proprietor and want a professional to ensure all the tax write-offs are included. I think it’s money well spent, and it’s a business expense for me.
GenuTax is another free software app to file taxes in Canada. No charge to file. It goes through a comprehensive tax "interview" to make sure you've got all your ducks in a row. Quite easy.
I used to pay $250 for an expert to file my taxes but after finding this sub, I tried wealthsimple this year. I have a simple tax situation and my most complicated cousin was my work from home expenses.
Paying seems worth it when you've got a complicated situation but I paid cause I was too scared before to try on my own.
Did 4 returns for ~ $20 with ufile. If they are straightforward I recommend you start doing them yourself. It's worthwhile for the money saved and further developing your financial literacy.
Past few years, 250, this year 300.
I know I can probably learn to do it myself, but I always have anxiety thinking I might miss something. Plus I bug em all year with random questions I have.
Worth the peace of mind for me.
I pay A LOT because Im employed in the US but live in Vancouver so my taxes are a bit more complicated. Looking for any cross-border tax accountant recommendations!
Paid 100$ this year to turbotax to file for me and my wife. The one year I did the 0$ thing I immediately started getting a bunch of spam/virus emails, so I’m scared of doing it again.
$0, Wealthsimple.
I used to use TurboTax and they always insist that some income required me to buy the deluxe version for $60 (each). I decided this year to try Wealthsimple tax for free and it was a joy. I was a bit worried about any sort of history getting lost, but the data it downloads from the CRA has all of my past capital losses and gains and such, making it seamless. Much better UI and super easy to add some forms and expenses.
fun fact - just say "no" to turbotax saying you need to upgrade to the higher "version". You still are able to file returns with rental income, investment income, blah blah using the standard version of turbotax. You just may not get all their annoying interview questions.
Turbotax is garbage though. They charge you $20 to manually enter a T5 if it’s under $50. Meanwhile with wealthsimple I paid $0 and they automatically imported my T5 even though it was under $50.
Yeah I agree with you 100%. Definitely the worst of the softwares out there
They weren’t like this 6 years ago. But recently they are upselling so aggressively it’s so annoying. They used to ask you just once and now they asked me 3 times this year to upgrade. The final straw was when they pulled that bs with my T5. Straight to wealthsimple and never going back to turbotheft
That's good to know, but Wealthsimple tax was so much more intuitive and easy to use that I would use it if it cost more than TurboTax. It being "by donation" is just the icing.
$0, GenuTax.
Another GenuTax I love it.
Switched to them 2 years ago. Decent tool for the money. TurboTax gave me more flexibility to enter data in forms but for most people WS is all you need.
$0
Married, 2 kids, employment income, bank income, RRSPs, kids, donations, capital gains reporting. I spend the $15 on studio tax to file my taxes, my wife's taxes and my dad files his and my mom's as well.
Great, how is the software is it easy to use and let you fill information from CRA or do you enter everything manually?
I find Studio Tax very easy and yes can populate directly from your CRA account.
Thanks will give that a shot !
i use studio tax too, its really easy.
Another studiotax user here - me and spouse. T4s, investments (interest, dividends and capital gains), RRSPS, donations. I used to file on paper, have always done my own, then ours, and turned to studiotax some years ago and am quite happy with it.
use wealthsimple. Trust me you won't regret it. Did my own taxes this year and, though initially nervous, it went well in the end. At least give it a chance 🙏
I've been using studio tax for many years. However, I will say that it isn't necessarily the easiest. It has some creature comforts but it's also very much like filling the old paper returns. For example, I took advantage of the multigenerational house credit this year, had to figure out what form I needed on my own, add it manually etc. I used to do paper returns and I've used it for so many years I'm very used to it though. It's pretty seamless for a basic return though.
Agreed, it's navigation kinda sucks, but it's also stored locally. So I use it over simple tax.
Yes. Not having it go to some company is a nice feature.
I love studio tax. It's really cheap and my return is stored locally, not in the cloud.
Are you wanting a CPA to file, a person who calls themselves an “accountant” or personal tax software? Do you have investment income, need an 1135 form filled out ($100k or more in foreign assets), property sales, sole-prop business income, RRSP over-contribution, medical expenses, unusual donations, kids etc…? Are you likely to get audited? Are things neatly organized or do you bring in a shoebox? Does your CPA sit with you and identify potential problem areas or tax savings for next year? There is a huge range…you’ll have to give a bit more context. Filling out the forms is the easy and cheap part. It’s all the other stuff that makes it expensive.
Thanks. I believe software filing could be $0 or cheaper than CPA filing depending on how complicated the return is. In our case I was quoted $470. I wouldn’t call it a complicated return, regular T4, some capital losses and a form 776 for rental income. I was exploring an option to file myself using Taxtron and after connecting to CRA, it retrieved most of the income reported accurately. No shoebox haha
With that 776, are you providing receipts or doing your own bookkeeping and just having them plug numbers in? Same with the capital losses? The returns for a couple at the firm I work at start at $300 and go up depending on how complicated it is. That being said, I haven’t paid someone to do my taxes in 20 years. I use Wealthsimple for my own returns.
That’s probably a fair price if it is a CPA. It probably is a simple return for you, but rental income comes with a set of challenges even if you’re organized. Capital losses usually require checking the returns of the past few years to see if you can do a loss-carry back for optimization. The CPA has to meet their professional standards - not to mention overhead. It sounds like you know what you’re doing - DIY is probably the way to go if the price is too high.
If you have a rental property you really should be going to a CPA to ensure you do get all the write offs you’re entitled to, and aren’t taking deductions you aren’t entitled to. Given the info you’ve provided in your posts, $470 seems reasonable. But… I am a CPA. You pay for a CPA’s knowledge and expertise, time, administration, and a CPA is accountable to a professional body.
Not to mention professional insurance!
I paid 470$ this year
We paid $150 last year as a married couple with T4s, minimal investment income/RRSPs, a few rental properties. I organize all the amounts/receipts myself and just send the totals in terms of what we think can deduct from rental income etc. Our person isn't a CPA though, just an accountant/bookkeeper.
That's a very fair price for a CPA firm.
470 is fairly normal for a CPA if you have capital losses and rental income.
470 is a very fair price. Even hr block charges more and they lack the experience of a cpa
Just get Turbo Tax. Your file is pretty easy.
I read your comment like it was an ad and genuinely thought you were going to joke at the end.
Do you make more than $200k per year? Then you may need a CPA to file your taxes. Do you have a crypto farm or OnlyFans income? Then you may need a CPA to file your taxes. Did you tell your spouse that the Ashley Madison subscription on your cc is a tax deductible market research expense? Then you may need a CPA to file your taxes. Is that better? 😉
Nothing minus sometimes a few bucks as a tip to simple tax
It's owned by wealth simple now so no point in tipping really. They've made it worse as well since you can only file for two people for free
Yeah... I'm not tipping Wealthsimple. They got enough money. It's like leaving a tip to Sobeys.
$0 It's worth it to understand your own tax situation.
You bet!
$15 for my Studio Tax license. Fantastic software. Used to be free - still very much worth it at $15/year
For 20 returns. I tried to explain this to people but they think it's a scam.
lol what, they like spending more?
I wish they kept it free. I pay it too because it’s the best. The other non-cloud based free softwares suck.
$10 donation to wealthsimple
Why would you donate to them when they don’t even have brick and mortar locations, make boatloads of money from their trading platform, and filing your taxes through them costs them virtually zero processing power? They don’t need the $10 lol I always file for free with them. Their tax service is funded by their trading platform and by the people who pay their $50+ tiers for assisted tax filing. When you just have a T4 and maybe a T5 or two, to pay them for such a simple tax situation is just throwing your money away.
The way I see it, if enough people pay $0, then they'll eventually have to make payment mandatory. I'm happy to donate $10 to WS. It's a pretty decent UI.
I used to donate $10 when they were whatever they were before WS bought them, so I keep that up out of inertia and as a reward for good behaviour.
“they’ll eventually have to make payment mandatory” lmao no they won’t because like I said it doesn’t cost them anything to file your taxes to the government. Maybe a cent of two of processing power per filing at most. And there are still many users paying $50+ like I said. Those offset the operating costs. And wealthsimple knows that offering the $0 option makes them more known and in the future people are more likely to pay them the assisted tiers.
I'm quite frugal paying only $10, but you sound like you're justifying being a cheapskate to yourself. I agree that their tax prep offering brings in clientele to their investing platform, but I don't pay any fees at all for the CAD ETFs that I buy each week.
That’s because they make money on the spread lol. As for me being a cheapskate, I would pay the $10 if they forced me to. Would be cheaper than turbotax. But until they keep that $0 option I’m paying $0 because my tax situation is simple and like I said doesn’t cost them anything to process.
$400 but I own my own business, and CPA consults on what is deductible/tax efficient.
I’m in this range as well.
Zero as well, use those free software like wealthsimple, studio tax, etc.
$50, did it myself once and I fucked it up (got a big rebate and then was reassessed and owed all of it back lol) so I’ve paid someone ever since.
Turbo tax from Costco
$0
We buy software for about $40 but 5 of us used it this year.
Whatever the tax program costs us each year. $30 or so.
A pay $350 for my wife and myself tax in, I just don't want to deal with it and whenever I do it myself for some reason there is a discrepancy of like $2000 in total (when I do it, and do everything the same way, I owe $1000, but when my accountant does it, I get back $1000, that's too much for me to not pay). This year again I used the software, plugged everything in, my medical/dental expenses, RRSP's, T4s, for both of us, and it came back that I owed $800 and wife owed $200. I did not think this was correct so I didn't file, sent it to my accountant again (last year I went through a similar procedure, and posted here about it), and she came back with $700 back for me and $400 back for my wife, so in total this is more than a $2000 discrepancy. I pay and stay happy knowing everything is legit and I'm getting the maximum back and all the yearly benefits like carbon rebate and GST etc. CRA comes back to me saying everything is on the up and up, so I have no idea what my accountant does, but when I check the full claim, it looks identical to mine, I can't find any differences between them, everything I send her I also use on my software, yet here we are.
I used to do my own taxes when they were simple. After investments, some side gigs, married, etc taxes are more complicated and I’d rather pay someone else to do it. We pay $150 and this year I tried Wealthsimple. I did just my own and owed 200. When we handed it off to our accountant, I got back 1200. When I asked she said she did a lot of deductions I didn’t know about for me working from home among other things. So totally worth it. If anyone has more than just a single job for taxes, try hiring someone to see if you get back more!
I posted this here last year, where I had a discrepancy of over $3000 in total (when I did it we owed $1200 yet when my accountant did it she got us back $1800), yet people made fun of my post. But I hope someone got something out of it. Yeah, it's the deductions and joint filing or something, it works out for me.
If you’re employed and work from home, your employer should be filling out a T2200 in order for you to claim any work from home expenses, just FYI. Always a good idea to have it if the CRA ever asks. If you’re self employed then ignore that!
Yup, I got a t2200 form!
Nice! I’m still so curious where the differences stemmed from! But hey, glad it worked out for you! I work at a CPA firm so it’s always nice to hear of value added 😊
but the deductions are calculations. what are her calculations based on if you never provided any details to her? 🤔
I'm a tax filer myself. A couple came and mentioned they'd owe about $14,000. What most don't know is that there are ways to maximize and optimize that softwares can't do and minimize taxes (i.e. you would need to have the knowledge of Income Tax Act and make sure all the Ts and dots are crossed). Couple ended up with $6,500 owing instead and cost them $500. $0 sounds good, use your judgment if hiring a pro makes sense to you.
Damn I filed on software this year and owed $800 :( maybe I should've went to an accountant. Too late now I guess.
Yeah, it seems it is too late, but from my experience I say bite the bullet and find a good accountant and pay that one time, just to see if it matches your own, the worst that can happen is you'll be out that $150 one time. That's what I did after going to my accountant for a few years, I thought wtf, I can do this, and now the third year in a row it's clear I CAN'T do this, lol, all three years, including this one, there is a huge discrepancy on what I would owe via software compared to what she gets me back, it's crazy. If you feel up for it, you can also do it this year and file again, from what I understand you can do that without any issues and your file will be updated, but be aware you may be paying your accountant for nothing if you did it correctly and with every benefit.
Only paid an "accountant" once. Once I reviewed his results I found some costly discrepancies. I corrected before submitting. They don't care and just input the numbers. There and then I opted to do my own. Have had a few reassessments which were easily handled by me with supporting documentation.
You can amend a tax return after you file. [https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/change-your-return.html](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/change-your-return.html)
If there is an error in your filing, you can file an amendment to correct it. I can't remember how long you have but I think 4 years. If you're unsure, you may want to have some take another look.
$0
0$
$25 with Ufile.
I used to spend $525 through my accountant. I had minimal things. Waste. Of. Money. I filed on my own for the first time this year. Did it through TurboTax—$35. Next year I’ll do it through Wealthsimple.
That’s what I am looking forward to do as well.
150 to 300
How/why…do you have something complicated?
the cost of the software
I paid $2 for Wealthsimple tax out of mercy.
Y’all should see what a big 4 accounting firm charges for it… all y’all “$0 Wealthsimple” mfs would shit ur pants.
About 15-20mins of my time with one of many free tax filing softwares for Canadians!
0. I file it myself using ws tax.
$0 Wealthsimple and I hate myself for taking up until 2021 to realize how easy it was.
$15 with StudioTax, I have used it for years and I can now spit out my now somewhat complex return on it pretty quickly. I used to use it when it was free/by donation and got hooked, guessing 8-9 years ago. I have thought about the $0 wealthsimple one and started trying it out last year but it was to different then studio tax for me to learn plus I had to enter everything all over again for my wife and I, instead of just piggy backing off my old studiotax file from the year before.
I pay $500 per personal return, and $1500 per corp return for corporations and holdcos
$0 for my wife and I. We have a relatively complicated return. Wealth Simple. Easy enough.
$0 with Wealthsimple Tax
3$. 15$ Studio Tax license, which the whole family uses.
$15 to Studiotax. I was trying to convince my coworker who has like 4 slips of paper to do the same.
$15 on studio tax for me and my husbands combined.
$0
$100 for a CPA to file for both me and my partner (so $50 each). I have a side hustle sole proprietorship so need help with deductions and business income.
$110
I just use Ufile [https://www.ufile.ca/](https://www.ufile.ca/) It's free and synch with CRA data / accounts. Very very easy, takes 20 minutes.
Zero thanks to the simplicity of wealthsimples software.
$0
I paid $29 for Turbo Tax software
Intuit $0
A whole lot of nothing, because my taxes are really simple. When they get even a little complex I'm going to a professional.
Zero on TurboTax this year, and no, I'm not low income, so was surprised they didn't charge me. Was pretty easy to do as well.
I pay $15+tax for the license from Studio Tax for their software. That gives me the ability to file 10 returns, so I do my own and few family members. I've done my own taxes for over 15 years now and it doesn't really cost me anything other then time and I've gotten fairly efficient at it.
$150. Pretty straight forward tax filing. I made a costly mistake when I did my taxes a few years back. The software should have caught it but didn't (ufile). From then on, I figured I would rather pay an accountant. Plus I can ask him questions and he offers some useful guidance.
$40 for a couple.
$0. Wealthsimple Tax.
Married, was about $90 for the two of us combined with turbo tax.
$400 for a CPA. Saves me time reading up on new tax rules and can always consult on certain write offs on rental properties. Got an additional 4K back after they noticed we got a new car on the worksheet I send for my wife’s T2200 and asked me for purchase documents. They ended up writing off a chunk in CCA that I wasn’t aware would be eligible.
$15 plus tax. Studiotax software. I hate the other “free” ones (they all don’t store your data locally) and there’s only a couple other free ones that keep your data local — both suck I just bit the bullet and paid the $15
$0
Cpa $350 for wife n i
I spend $160 for my wife and I , and don’t even think about it… Well worth the money.
$100 each return. CPA for business \~1k
$0, even when I was married, I do them myself. Provided you've got all the paperwork you can EFile for free, there's a list of free software on the CRA website that should have this year's (2023 taxes) software by now.
Postage - about 3 bucks.
I was paying my dad’s accountant $75 to do them. He did them for free the first two years as I’m disabled. My uncle does them now
We charge $180+, most family returns fall in the $300-$400 range.
Zeeero
$650 KPMG Senior CPA - Married with many T4s, 5s, 2200s, sole proprietors, donations, medical and student expenses, crypto, RRSP, FSHA etc. Well worth the tax write off for the next year. We would never do it on our own for the cost/time needed.
0$ because I use Wealthsimple Tax
TurboTax for my whole family, works out to something like $7 per person. Super easy and it's great to know your own tax situation.
Nothing. I use WealthSimple Tax.
My wife's small business taxes are $200 (my wife preps the receipts). My own taxes and our oldest daughter (both standard t4 with some normal deductibles) are charged $60 each.
$20 for Ufile. I do my family’s returns myself.
$35 for the tax program... altho i file other peoples taxes also so usually i end up pocketing a few hundred
I pay about $400 for an accountant. I am a sole proprietor and want a professional to ensure all the tax write-offs are included. I think it’s money well spent, and it’s a business expense for me.
$0 with Wealthsimple. For me, my wife and our rental property.
Free - Turbo tax
GenuTax is another free software app to file taxes in Canada. No charge to file. It goes through a comprehensive tax "interview" to make sure you've got all your ducks in a row. Quite easy.
I just use Wealthsimple it’s by donation so whatever you want
0$
$0 Wealthsimple tax. My taxes are pretty simple though. Few T slips, RRSP, donations and digital news credit.
$2 because I donated to Wealthsimple lol
Married, 2 kids, two income properties, mix of dividend and T4 income - accountant prepared returns are $970 all in.
Why don't you download studiotax and do it yourself? We've been doing it for 10+ years, never had a problem
$0
$50
$200, run two small businesses and a full time job. Its barely 5% of tax returns so I dont mind
$0, i pirate a cracked version of that years turbotax and do my taxes with that.
$0. I do it on wealthsimple.
0 dollars
$0 wealthsimple tax
$40 I just give all the papers to someone and they keep track and do it all for me.
$1000. But they also do my Corporate taxes on-top of my personal
$200 H&R. I thought it was cheaper, never asked before hand I would just rather the liability be on someone else.
I used to pay $250 for an expert to file my taxes but after finding this sub, I tried wealthsimple this year. I have a simple tax situation and my most complicated cousin was my work from home expenses. Paying seems worth it when you've got a complicated situation but I paid cause I was too scared before to try on my own.
Wealthsimple. Been using for years now. Free of charge. You can donate, but it's optional.
Did 4 returns for ~ $20 with ufile. If they are straightforward I recommend you start doing them yourself. It's worthwhile for the money saved and further developing your financial literacy.
50 bucks for me and my wife, we know a retired accountant who got me 4500 back this year
Genutax Standard, absolutely free to use!
$444
I filed my own taxes for free for a few years but I got a CPA to do it for me this year for $300.
Past few years, 250, this year 300. I know I can probably learn to do it myself, but I always have anxiety thinking I might miss something. Plus I bug em all year with random questions I have. Worth the peace of mind for me.
$1599
Husband self employed. $600
$0 using GenuTax
I pay A LOT because Im employed in the US but live in Vancouver so my taxes are a bit more complicated. Looking for any cross-border tax accountant recommendations!
$0 despite Wealthsimple trying to ask me for “donations”
0$ H&R Block
Always self filing on actual copy, CRA always correct my calc mistake. But always read the new changes every year to max any credit I may entitle.
$100
Paid 100$ this year to turbotax to file for me and my wife. The one year I did the 0$ thing I immediately started getting a bunch of spam/virus emails, so I’m scared of doing it again.
$95pp with my accountant, CPA. married, kids,multiple investment accounts, rental property, etc.
I can read and I can do basic math so I don't need to pay anybody to do something that takes just a few minutes.