StudioTax
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465 Posts
I have used it and it is okay. Unfortunately whenever it updates the display goes screwy (maybe just my laptop) and I have to uninstall then reinstall. Right now I Am using Simple Tax as I don’t have time to mess around with it
I have used it for a long time. At first as a check on another tax program, but for some time now as my only tax program.
Studio Tax has evolved over the years and is quite acceptable but not overly user friendly. The display does not fit my laptop properly unless I change the screen resolution. I don't do that because it messes up other uses, so live with the poor display.
I used to use Tax Freeway. It's was not bad. Haven't tried Simple Tax. Used to pay $50 for Quicktax or whatever it is called, but haven't done that for years.
Studio Tax has evolved over the years and is quite acceptable but not overly user friendly. The display does not fit my laptop properly unless I change the screen resolution. I don't do that because it messes up other uses, so live with the poor display.
I used to use Tax Freeway. It's was not bad. Haven't tried Simple Tax. Used to pay $50 for Quicktax or whatever it is called, but haven't done that for years.
Joined
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4,209 Posts
Now called TurboTax. The "Standard" version is all a person needs and can be bought for about $29.
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10,891 Posts
I do 3 returns with UFile @ $19 on sale, but also use Studio Tax for 'what if' analysis. Studio Tax is perfectly fine but likely a bit cumbersome especially for newbies. Turbo Tax and Ufile with their Interview setups work best for newbies....for the cost of a pizza and beer for 2 at BP.
I won't use web based packages like Simple Tax. The software has to reside on my PC.
I won't use web based packages like Simple Tax. The software has to reside on my PC.
Studio tax is great for anyone even remotely interested in how the taxes are done and/or the math, and/or playing around with scenarios, as it displays the digitized versions of all the exact CRA forms and you can follow through from one to the other and view how everything is determined by the CRA.
I've never had a single tax return have any adjustment made or reassessment by the CRA since using the netfile and Studio tax. The refund is always exactly what Studio tax says it will be, down to the penny.
I've never had a single tax return have any adjustment made or reassessment by the CRA since using the netfile and Studio tax. The refund is always exactly what Studio tax says it will be, down to the penny.
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10,881 Posts
Same is true for the UFile and pretty much any tax software I have used.
The few times there has been an adjustment from CRA over the years, about 99% of the time it is something I missed or fat fingered the numbers from my copy of the form.
The one exception is where the CRA clerk used my pension adjustment reversal (PAR) to replace my existing RRSP contribution room instead of adding to it. This triggered a bogus RRSP over-contribution penalty that ran over multiple years, adding to penalty value.
Cheers
The few times there has been an adjustment from CRA over the years, about 99% of the time it is something I missed or fat fingered the numbers from my copy of the form.
The one exception is where the CRA clerk used my pension adjustment reversal (PAR) to replace my existing RRSP contribution room instead of adding to it. This triggered a bogus RRSP over-contribution penalty that ran over multiple years, adding to penalty value.
Cheers
Joined
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26 Posts
First I tried GenuTax and was annoyed to no end with its neverending sequence of screens, one question at a time.
Then I tried Studio Tax and loved it since it mimics the actual return forms.
Yes, it is not the most user-friendly, but I can live with it.
Then I tried Studio Tax and loved it since it mimics the actual return forms.
Yes, it is not the most user-friendly, but I can live with it.
Joined
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10,881 Posts
Strange but true fact ... some that work with computers every day do not use tax software, use a spreadsheet for the math and use the paper forms. :rolleyes2:
A really small number use calculators and the paper forms.
Back on topic ... I have used StudioTax for scenarios but will likely add in doing the download of the forms CRA has.
Cheers
A really small number use calculators and the paper forms.
Back on topic ... I have used StudioTax for scenarios but will likely add in doing the download of the forms CRA has.
Cheers
Joined
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3,627 Posts
BTW, I used the CRA download data for the first time this year and it worked out fine. It missed a T3 but it wasn't issued yet and I just manually entered it when it arrived a month later. All of other numbers matched up fine with my paper/electronic copies.
Studio Tax does have the equivalent of an Interview - They call it a Wizard. Doesn't cover everything, but does get user started on their return.
For videos on how to use Studio Tax. https://www.studiotax.com/en/?page=12
Should be useful for those doing individual returns, but not useful when a couple is splitting investment income.
Used Studio Tax to submit to CRA today. I always check our slips against those listed in our CRA accounts and against what we submitted in the prior year. We cannot do autofill because we split some income. Even prior to doing our own tax I always did a pro forma to ensure that what I gave the acct. was complete.
I typically do the the tax, let is sit for for a week or so, then revisit it and do the final check, ticking and bopping, prior to our CRA efile. This year is an exception. I pay, DW gets a refund even though we are both required to make installment payments throughout the year.
Don't mind paying tax. We are truly blessed with the life that we have in Canada. You really notice it when you travel to other less fortunate countries.
I typically do the the tax, let is sit for for a week or so, then revisit it and do the final check, ticking and bopping, prior to our CRA efile. This year is an exception. I pay, DW gets a refund even though we are both required to make installment payments throughout the year.
Don't mind paying tax. We are truly blessed with the life that we have in Canada. You really notice it when you travel to other less fortunate countries.
We too feel that way about our Fed/Prov taxes. We get good value for those.
But not so much for our municipal taxes. We pay $7000 pa and have no sewers or water. Just roads and garbage pick-up (which we pay extra for). Down here is SC where we winter, municipal taxes are a small fraction of what we pay.
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10,881 Posts
I plan to use the download CRA forms in Studio Tax as a check on whether I have received everything.
I suppose I may go with the CRA forms, if I decide it's easy enough to reconcile the per company T3 forms that CRA sends to the tax software versus the fewer, rolled up T3 forms the broker publishes. I also have a problem with the 2017 T4 form where version forwarded to CPP has less than the maximum pensionable earnings while the payroll company provided one reports the maximum pensionable earnings.
Cheers
Joined
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10,881 Posts
??? ... or are you saying that StudioTax does not provide as "what percentage is yours" choice for the T forms?
Cheers
I wonder why the the "Premier" version is recomended for one with stock investments? Is the standard version just as good for stocks and dividends?
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4,209 Posts
Because it costs you a lot more. I've used Standard over the years for schedule 3 events, stocks, real estate sales. rental income, etc.
The only difference according to their own site is, "Expert guidance on investment income and expenses, and rental property income and expenses". So if you can get your guidance somewhere else, Premier is not necessary.
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