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Yes, You Can Do Your Taxes

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If your income is reported on T-slips (employment, CPP, limited investments, etc.) there is no reason to pay the bone-chilling amounts charged by tax preparers. You can download software similar to what they use (some programs are free), enter the amounts from your slips, and Netfile. Approved software is listed on CRA’s website: CRA approved software. All you have to choose is whether you want to download software onto your computer and keep your information until you upload to CRA or whether you want to work in the cloud.

You might have to check for yourself which medical expenses you can claim (it takes a lot of expense to make a difference to your tax, though). If you’re a student, make sure to get your T2202 from your University or College’s website (there’s minimal tax credit in tuition anymore, but still). Don’t forget RRSP contributions and charitable donations. Everything you need if you went to a tax preparer, you still need. You don’t get any more deductions from a tax preparer than you get filing yourself. Most software even has tips built in to prompt you if a credit is available.

But you can do it! for free or a token payment to the software company. Even if you pay, often they allow up to 20 returns for one purchase. Plus you get to understand a little more about how governments tax your income. Yes, you can do your taxes.

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