Intuit Canada is offering free online or over the phone chatting with Tax Experts in Canada. During the tax season, these TurboTax Canada tax experts are available 24 hours a day and 7 days a week.
Beginning in February, Canadians can call or chat online with TurboTax tax experts. If you have questions about claiming business property deductions or medical expenses for small business employees, calling TurboTax Canada is a great idea at the right price, free. You don’t need an appointment just jump online.
Like many in America, we in Canada want the largest possible tax refund at filing time. Get professional advice and using great software helps to ensure you get every deduction. Once an additional fee, expert support is now available to anyone that has purchased the popular tax preparation software. The service starts when tax season begins and does not end until the tax deadline has pasted.
When it comes to doing taxes, it can be a painstaking endeavor. So many people make it sound like it is something that you can easily get done in a few minutes that you may even be tempted to wait for the last minute to get started. There are an incredible amount of problems if you wait too long to do all the paperwork and turn it in. In fact, there can be so many complications, that you will find yourself lost amidst the shuffle of trying to put together a plan to fill out all the forms, and then get a refund. If you find yourself trying to placate an angry system, it’s time to ease the burden by getting TurboTax Canada.
Filling Out Forms The Smart Way
Let’s assume that you didn’t want to purchase software or get any help. You could definitely try to go at it the “manual” way. Getting information and writing it all down on the forms in pen, fixing the numbers, calculating the things you write off, and working on all the different forms can be done. However, if you make a mistake, or if you misinterpret what is being said, you could be in trouble. Every year millions of well-meaning people get in trouble over tax miscalculations and more. Why risk it? When you could fill out forms in a smarter, more concise fashion?
Peace of Mind
There is a certain amount of peace that will come over you when you are filling out the correct paperwork and you are gaining ground on this financial solution. Peace of mind will come through when you fill out your forms properly, file them, and get confirmation of your refund status. This is not only like lifting a big burden off your shoulders ,it’s going to pay off in the long term, because you will not have to worry about auditing or anything along those lines.
Streamlining The Process
If nothing else, you need to look at TurboTax Canada as a way to expedite the process of paying your taxes, or at least filling out the correct information overall. Taxes are not going anywhere, and you may be dreading trying to get them done and filed. However, with the easy to use options found through this software and website, you will end up streamlining everything to the necessary questions, and that’s it. Whether you’re a tax expert or not, you will be gaining leverage here and will definitely find the maximum deductions, and refund potential.
The worst thing that you can do is not fill out forms, or just wait for the government to knock on your door. There’s nothing worse than owing back taxes, and having to deal with garnishments, penalties and more.
We finally get to wave good-bye to old man Winter and get ready to welcome in the Spring. One additional season that takes place around this time, is tax season. It is that time of year when everyone is busy gathering up information and organizing paperwork in anticipation of the April 30 deadline. I myself keep on top of taxes all year round by filing all my slips and receipts within a huge accordian file as I receive them. When March is at its end, I am ready for it! Having tools like TurboTax Canada makes preparing my return quite a painless, quick, and easy process.
What I call an accordian may be a shoebox to you, as long as it holds all your receipts and important documents. However, in a shoebox they will all be piled up on top of one another and disorganized. Now you have to lay them out on the table and take the time to sift through them all and find what you need. The sorting can take a long time.
The kids might notice that you are into something, and be curious. Why not grab this moment to teach them about taxes? Even though they are still too young to be income tax payers, they are never too young to learn. It will be a chance to give them a basic concept of the process. You can explain to them why taxes are collected, and that the government collects them. They can learn what our tax dollars are supposed to be doing, like building roads and bridges, giving us opportunities for doctor visits, public schools, and lots of things we use and need every day.
Let your children get involved and learn about life this next tax season. They are smarter than we give them credit for sometimes. Let them watch you use TurboTax Canada for your own taxes.
Tax Credits and Deductions
You can show your kids how interesting and how relevant taxes can be, simply by explaining to them, that some of what they do actually affects the lowering of your taxes. A good example would be if your kids were attending parochial school. Then you could be entitled to claim part of their tuition as being a charitable donation (you would need to get a receipt from the school for verification). There are also some extracurricular activities that can provide some savings on taxes as well. If the kids are involved in gymnastics or hockey or something, the you’ll be able to claim a ‘fitness amount’. If they happen to have signed up for guitar lessons, then you can claim that as a children’s art tax credit. Raising kids can be quite taxing, so they allow you to claim child tax credits for children under 18 (bad joke but true nonetheless).
Your kids might surprise you at how interested they are in learning about how you can claim deductions for their day camp, the babysitter, day care, the nanny, and more, can be deducted as ‘child care expense’. The max on this is $7,000 for children under age 7, and then $4,000 on children 7 and above, all the way to age 16. Children who are qualified for a disability tax credit can get as much as a $10,000 credit. With knowledge, organization, and a program like TurboTax Canada, they can have a much better experience than some of us who didn’t have such a good learning head start.
The days of long ago required us to wait an atrocious amount of time to receive the paperwork needed in order to file for our tax returns. Over the years, thankfully, technology has not only allowed us to eliminate the paperwork, to some extent, but has also eliminated the stress of either doing the work ourselves or finding a trustworthy company that can give you the assistance you need in getting the highest possible refund you deserve. This is where TurboTax Canada 2014 where simply blow your mind and win you over.
Only very recently has the Canadian Revenue Agency ceased actually mailing tax paperwork packages to their residents, and they also have basically rid the company of the Telefile system, which never really hit it off for the taxpayers in Canada. Also, for many years, those in Canada who had small returns to file were able to take care of this business by phone. While no one particularly likes change, some change is for the best, and that is exactly what TurboTax Canada 2014 is all about.
As we come to experience the advances that technology has made in all aspects of our society, we must strongly consider the fact that these advances are not strictly for writing documents and playing games, but Internet programs such as TurboTax Canada 2014 will make your tax filing, paying, and refund process so much easier, so much more expeditious of a process, that the fear of change is completely unwarranted. Not only does TurboTax assist the tax payer with every aspect of assistance they have, or any answer to any question, it is their primary desire to offer those in Canada the opportunity to eliminate that tax paying grief and rest assured they will be receiving the highest possible refund available to them in accordance to last years earnings and the taxes they have paid.
While the Canadian Revenue Agency has indeed done a bit of improvement to their NETFILE system in an attempt to make it usable on a simpler basis, they have indeed gotten rid of the access codes which had to be mailed before, causing taxpayers to endure an even longer weight. All you will need is your SIN, or Social Insurance Number, and birthdate. Due to these changes, NETFILE can now be utilized by first time users, which was not possible prior to these changes.
In conclusion, throughout the implementation of TurboTax Canada 2014, many changes have been, and will continue to be added or taken away from the process Canada uses to deal with yearly revenue payments and refunds. TurboTax is one of the most efficient and effective ways to get your taxes done honestly and quickly in Canada. By using this service as it hits full board, you will surely find TurboTax Canada 2014 to work extremely effectively for the residents of Canada and there yearly financial responsibilities.
Now that the new year has arrived, there are only about four months before the deadline for filing taxes passes. This means that you have very few options for lowering your tax bill. The best of these options is making charitable contributions to approved charities.
However, making charitable contributions is not the only way to reduce your tax bill. The following are some strategies provided by TurboTax Canada for reducing your tax incidence.
1) Contribute to your RRSP (Registered Retirement Savings Plan).
If you have not yet maxed-out on your contribution limit, you can get a tax deduction for every dollar you save in your RRSP. This is one of the most effective ways of lowering your taxes.
2) Save through a TFSA (Tax-Free Savings Accounts).
Saving through TFSAs is recommended because the interest earned is tax exempt. When you start withdrawing your funds, you will not be required to pay any tax. The Canada Revenue Agency has set $5,500 as the limit for annual TFSA contributions.
3) Donate to charities.
Any donation to charities or organizations that have CRA’s seal of approval is tax deductible. Up to 75% of your net income can be donated to charities.
4) Sign up your kids in artistic or physical activity programs.
This will enable you to take advantage of the Children’s Arts and Children’s Fitness tax credits. You can claim up to $500 tax deduction per child for both of these programs.
5) Hire a member of the family in your business
Employee income is tax deductible, so hiring a member of the family in your business will help to ensure that less money goes out of the family circle.
The holiday season is a time for giving not only to our friends and family but also to charitable institutions. This meaningful act enables us to make a difference while receiving tax credits in return — funds that make this a sustainable undertaking. Make all donations count by taking the following precautions:
1. Do a background check.
Criminals use names that sound similar to well-known charities. Look through the list of registered institutions compiled by the Canada Revenue Agency to verify. Ask for a receipt as well as this will be a requirement for claiming tax credits.
2. Go beyond charities.
There are a number of qualified donees that may give receipts even though they are not charitable organizations. These can also be used to gain tax credits according to the Income Tax Act. Examples are municipalities, national art clubs, and amateur athletic federations.
3. Donees have discretion on receipts.
These groups are not mandated to provide a receipt to their donors. People must ask them explicitly to acquire this proof of donation for tax purposes. Inquire about it before handing any funds to avoid any confusion.
4. Some non-cash donations can lead to tax credits, too.
Stocks, land, and personal property all merit credits when it’s time to pay for tax. Note that donated securities are not subjected to capital gains tax while donated properties are. Helping charities through volunteer work does not result in tax credits. The CRA has published guidelines on this so be sure to browse their website. TurboTax Canada also has helpful information on the matter.
It’s that time of the year again, when you have over-indulged in the festivities and you are now faced with some financial realities that are not so pleasant. The following are four tips to help you get your finances right in the new year.
Pay Your Debts
In 2014, you should stop procrastinating your financial obligations. Your personal loan, cash advance and credit card debt should be cleared immediately. Holding on to debt is costly because you have to pay interest. It also keeps you in a spending cycle. Therefore, you need to create a plan to get out of debt and follow it.
Open a TFSA for Emergencies
Financial emergencies can bring you to your knees if you do not plan for them. For this reason, you may want to set aside a certain amount of money every month and put it in a Tax Free Savings Account. A TFSA can help you to manage emergencies effectively.
Save to Buy a House
Canadians who have just gotten their fist job see home ownership as a distant fantasy. However, regular saving for a down payment can get them close to this dream. Since the minimum down payment is around 5%, consumers should aim to accumulate this amount and start their journey towards home ownership.
Invest Wisely for Retirement
In order to have financial independence during retirement, you must first take a closer look at your financial position and start saving right now. You can use TurboTax Canada to file your returns.