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Tax Software: Do it Yourself

tax software

The April 30th tax deadline is fast approaching, which means you have less than two weeks to file! Instead of paying a service or accountant to prepare your taxes, buy some easy-to-use tax software and DIY!

Five Reasons to Use Tax Software at Home:

  1. Cost effective – A lot of Tax Software can be used by your entire household of tax payers. While it does cost money to purchase it, it’s a one-time fee, unlike using an tax preparation service, where they charge a fee per person based on the complexity of the taxes.
  2. Easy to use – If you have straight-forward, no fuss taxes, DIY software is super easy to use. As long as you have all the receipts and documents available, you just need to plug in the numbers, apply for any eligible tax credits and submit.
  3. Fast return – If you’re getting a tax refund (woo hoo), you will get that money a lot faster than traditional methods of doing your taxes. The software allows you to e-file directly from your home computer. You should see the money in your bank account in no longer than two weeks.
  4. Comfort – For some, it’s uncomfortable having a virtual stranger go through your personal finances line by line. With software, you can type in all the information yourself from the comfort of your own home. Lots of people have social anxiety, so this is the perfect solution.
  5. Go paperless – Today is Earth Day, so by doing your taxes online using software means you don’t have to print out as many receipts or forms. Many companies supply digital copies of T4 slips and other tax forms, so you can keep them on your desktop rather than cluttering up a filing cabinet with loose sheets of paper that you’ll misplace.

If you’re worried about security, reach out to us at TwinBytes in Markham. We can talk to you about making sure you’re computer is secure so you’re precious tax information is protected. Doing things digitally can be great as long as we’re being safe and secure with private information.

Once again, the tax deadline for Canadians is April 30, 2019.