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The Watercooler
tax prep software - is it worthwhile?
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<blockquote data-quote="trinityroyal" data-source="post: 252442" data-attributes="member: 3907"><p>I would highly recommend DIY tax preparation software, but only under the following conditions:</p><p></p><p>- all of your tax documents (notices of assessment, earnings statements, receipts, etc.) are well organized and easy for you to find</p><p>- your tax requirements are fairly straightforward and simple.</p><p>For example: you work full-time for a single employer, don't have income property, are not self-employed or anything like that.</p><p></p><p>I used to do my own taxes using QuickTax for years. It was clean and simple, and I always had my tax return filed (and my tax refund in hand) well before the deadline.</p><p></p><p>Now that my tax situation is much more complex (run 2 small businesses, work on contract therefore considered self-employed, self-directed retirement plan, divorce and dependent claim-splitting, and a whole bunch of other nonsense), I find it much simpler to use an accountant. The deductions and tax breaks he finds for me more than make up for the fees I pay him.</p><p></p><p>Hope this helps,</p><p>Trinity</p></blockquote><p></p>
[QUOTE="trinityroyal, post: 252442, member: 3907"] I would highly recommend DIY tax preparation software, but only under the following conditions: - all of your tax documents (notices of assessment, earnings statements, receipts, etc.) are well organized and easy for you to find - your tax requirements are fairly straightforward and simple. For example: you work full-time for a single employer, don't have income property, are not self-employed or anything like that. I used to do my own taxes using QuickTax for years. It was clean and simple, and I always had my tax return filed (and my tax refund in hand) well before the deadline. Now that my tax situation is much more complex (run 2 small businesses, work on contract therefore considered self-employed, self-directed retirement plan, divorce and dependent claim-splitting, and a whole bunch of other nonsense), I find it much simpler to use an accountant. The deductions and tax breaks he finds for me more than make up for the fees I pay him. Hope this helps, Trinity [/QUOTE]
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tax prep software - is it worthwhile?
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