Is it better to file your taxes online? Using software? Should you hire an accountant? How do you know if you’re making the right choice when it comes to filing your Canadian income tax return?
There have been significant innovations and improvements to Canadian tax filing options this year. In 2015, the CRA received 81% of all tax returns electronically, and only 19% of returns on paper. The rate of electronic submission has been increasingly steadily each year, and soon paper tax filing will become completely obsolete. Since early 2016, there have been even more significant developments in tax filing that have accelerated Canadian tax options forward by several leaps and bounds.
This year, individuals, families, students, and self-employed business owners are faced with a choice: to do things the same way that they did last year, or to try a new and improved system. Many Canadians are choosing to explore new options, and there are some very good reasons to do so.
Many experts say that the choice of whether or not to hire an accountant or see a tax professional depends on the complexity of your financial situation. Most software and online tax filing options leave the ultimate decisions, tax navigation, and file auditing to you.
Understanding the Options
Free Software is accessible online or downloadable and is designed for only the most simple tax returns. If you have a very basic tax return to file, this could be a good option for you. However, you should always keep in mind that there is no guidance provided. Free software is usually form based, and does not optimize your tax return for the best possible results.
Paid software goes into more detail with a questionnaire format rather than just the form-based input of the free software. There are more details that help to paint a more accurate picture of your tax situation, but there is still no guarantee that your tax return will be optimized for the best results.
Some communities and universities offer tax clinics. These are generally volunteer run programs for low to moderate-income individuals and families. The clinics are really designed to just help people to input their data, but they leave a lot of room for human error and tax returns are not optimized for the maximum tax benefits.
Brick & Mortar Tax Services
There are many tax businesses that pop up in cities across the country. These are like the convenience stores of the tax world. While these options do provide trained customer service representatives who will process your tax return, they are run in somewhat of a factory format. When you use a brick and mortar service, you pay more to help cover the costs of the overhead of the office space, but you are not necessarily getting the expertise of a professional accountant.
Having the human expertise and attention of a professional accountant process your tax return ensures that your tax return is maximized for the best possible results. They will understand your tax situation and will uncover all of the details that will optimize your file for the best possible results.
The question is, do you have to hire an in-person accountant? Or is there another way?
Introducing the TAXplan app
TAXplan is the only tax app that connects you directly with tax professionals for optimal tax return filing, right from the convenience of your pocket. It can be accessed on your computer, tablet, or smartphone and offers the perfect balance between technology and human expertise. The app is revolutionary; it’s only tax app in Canada that links your information directly with a tax professional who will process, maximize, and file your tax return.
When you file your taxes with TAXplan, you’ll never miss a potential tax credit. Our proven process ensures accuracy. Every return is processed by a TAXpro—a TAXplan Professional—guaranteeing that your fast and convenient tax return will always be optimized for the best possible tax refund and overall outcome.
Anyone with any kind of expenses that could be deducted, investment income, or business income, is much better served by getting professional help. If you’re not leveraging human expertise, there is no one to check to make sure that your file is optimized. Maximizing your tax refund or minimizing deductions by taking into account details such as expenses, claims, and investments… regular software is not subtle enough to catch all of the details. You could end up paying more money in the long run. But with the TAXplan app, you get the convenience of software without missing out on the benefits of human expertise.
The best news of all? In 2016, TAXplan is offering a special rate of just $29.95* to file your 2015 tax return. With such an accessible rate, the convenience of filing online, and the ability to start now, why wouldn’t you try this new revolutionary app this year?
Remember, the deadline for tax season is fast approaching. Don’t wait to make your decision about filing your 2015 personal income tax return. You must file on or before May 2nd, 2016 this year, as April 30th falls on a Saturday. Start connecting with a TAXpro now to have your taxes filed by a professional, right from the comfort of your own computer, tablet, or smartphone. Click here.