What are we doing?

[Big Cliff]

The Canada Revenue Agency has a free introductory course on its website called Learning About Taxes. The lesson takes around 90 minutes to complete and covers the basics of the tax system and how to file a simple tax return online.

 

When you have to take a 90 minute course to learn how to file a SIMPLE tax return how SIMPLE can it be?

[Dave Bailey]

In my 45 years of filing taxes I have never had one that wasn't adjusted up or down by the folks in Ottawa. That tells me that they go over every single claim in detail, and making corrections, which probably takes more time than most of us spend on filling in the form. Which begs the question: why do we bother? Just send them our T-4 slip, and other necessary documentation, and they can figure it out. Hell, they're probably paid much more than I am, let them earn it.

[bigbuck]

The tax system is ridiculously complex. Tax lawyers, accountants and the bureaucracy have to justify their existence somehow.

[porkpie]

Fellas, If the tax system pains you that much, get a program. I use UFILE. I have 4 dependants, and have done my own taxes for years, including not only my T4 from work but filing taxes for a small business on the side. I have claimed all sorts of legit expenses, even moving expenses in the past. I've never had it come back on me for more than a few bucks. I make sure my receipts are in order, I don't claim anything remotely shady, and I save myself $400 a year at the accountant. I have recieved several letters over the years requesting additional documentation and receipts and emerged unscathed. I'm not particularily brilliant, and not a great mathametician. If i can figure it out, so can you! The tax software is very accurate. Even when I've had to verify things the old fashioned way, its all added up.

Edited April 3, 2015 by porkpie

[Raf]

i am with porkpie i have done our taxes as well for many years, use studio tax, they update it each year and they had the income splitting stuff in it this year. pretty painless process but our returns arent as complex as others i am sure.

[dave524]

I've used TurboTax since I've retired and things got more complicated. Income comes from more sources and then I split pension income with my wife , it figures it all out with the appropriate supplemental forms. I would recommend it as well.

[Big Cliff]

I use to do my own and did for years then one year I got audited.

 

I was informed that in the auditors OPINION I didn't need a computer to run my business (I had just increased sales from about $95,000.00 a year to over $300,000.00 a year) so he disallowed my claim for the cost of the computer and everything associated with it.

 

That was the day I got escorted out of RC by two rather large security guards with my feet just touching the high spots on the way out and informed that if I did return I would be charged with tresspassing and utering threats (I probably shouldn't have offered to throw him out the 8th floor window).

 

From that day on I have used an accountant (the cost of which is tax deductable) and I have never paid a penny more than I absolutly needed to. Mind you I keep everything very well doccumented and have backup receipts for everything but the accountant has often been able to advise me of things I can/could do to reduce the amount of taxes oweing every year.

[BillM]

i am with porkpie i have done our taxes as well for many years, use studio tax, they update it each year and they had the income splitting stuff in it this year. pretty painless process but our returns arent as complex as others i am sure.

 

Been using StudioTax for years, best program out there.

[4x4bassin]

I can remember in my younger , wilder days when I first started working I would just fill out the top of the

forum with my personal information , sign it and put it into the mail with my T4 slip . Then a couple weeks

later I would either get a cheque or a statement of owing $$$ . Only did that a couple times but they did it

for me . Ahhhh the good ole days Wouldn't want to try that now !

[Fisherman]

I get out my pencil, eraser and calculator. Knock wood, in 44 years(with one exception when I retired from DND), I've always done my own and never been off by more than a few pennies. Unfortunately they got rid of Telefile, so now it's back to snail mail. Sent mine in on 24 Feb, had it back 3 weeks later.

Edited April 3, 2015 by Fisherman

[bigugli]

It was relatively easy to do until the 90's. Since then our family accountant, brother in law takes care of it all.

[dave524]

It was relatively easy to do until the 90's. Since then our family accountant, brother in law takes care of it all.

 

 

when they went from simple deductions to using tax credits they lost me, I could do it but I didn't follow the logic

[ecmilley]

ust an accountant around a 100bux or me and my wife and while he's fiddling with numbers i can be chasin the fishes

[Mister G]

Found it better to be off the grid ever since they declared me dead......don't pay taxes anymore and don't file for a refund anymore. Life is much simpler that way......LOL