canada income tax Archives - Mommy Kat and Kids

Everyone Can Prepare and File Taxes Online Absolutely Free with H&R Block Tax Software

March 30, 2016 by Kathryn 18 Comments

I’ve often thought that when it comes to taxes, I’m a bit of an oddity. Being self-employed, my taxes take a lot of work. But despite that, I love the chance to see how well my business has done over the past year…though making that final payment to the government does hurt a bit! This year, H&R Block challenged me to try its online software and see if it could make my filing experience even more enjoyable. Since the company promises a quick and easy experience that’s also absolutely free, I was more than willing to give it a try.

Last year was my first experience with an online filing program, though I did use a different company’s paid version to file. This year H&R Block requested I see how its program compared and I couldn’t wait. I have to admit that I didn’t believe the program was free for everyone at first. I mentioned that as someone with a home-based business and investment income, I likely would need a paid premium version of the program. Learning that H&R Block’s online tax software is 100% free for everyone had me even more excited to test it out!

I signed up online and started entering my information. The program uses questions and answers in a simple interview-style process to obtain essential filing information about dependents, job status, marital status and more. I liked the way that just a quick click of a button prepared the software to obtain all the necessary information it would need for my return. I also loved being able to save my progress and come back at any time, since I often have to reference paperwork and add up various income and expenses when filing. [Read more…]

I’m Preparing My Taxes Online for FREE with H&R Block Online Tax Software #HowToRefund

March 21, 2016 by Kathryn 29 Comments

Ever since I started filing my taxes, I’ve been the do-it-yourself type. Each year I’d pick up my tax booklet at the post office, work through the forms and mail in my completed return. Initially that job was pretty easy. With a single T4 and not many deductions to claim, filing really couldn’t have been easier. Then I had children, bought a house and started my own business. Suddenly my taxes got a lot more complicated and took a lot longer. But I still did the work myself and up until last year, I still used the old-fashioned paper and pen.

When filing my 2014 taxes, I upgraded to online software for the first time. I loved the ease of use, but the price tag wasn’t so great. Because I was self-employed and had investment income, the software cost $50 for a single return! Since I had to pay quite a bit in income tax already, every extra dollar I lost filing hurt a bit. And with my return for 2015 being even more complicated as I’m paying GST for the first time, I wanted to find the most effective filing method possible this year…at the best price.

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Find Provincial Tax Benefits You Can Claim with Help from TurboTax Canada

April 9, 2015 by Kathryn 39 Comments

The deadline for filing income tax is almost here and if you still haven’t filed, TurboTax Canada is the quickest and easiest way to ensure that you get the job done on time. There are plenty of benefits that Canadian families can claim and often, those benefits are specific to certain provinces. Make sure you don’t miss out on some of these top tax credits and rebates offered in provinces across Canada!

British Columbia – Low Income Climate Action Tax Credit

This deduction helps low income individuals and families offset the carbon tax they pay. Eligible persons receive their payments four times a year, as part of their GST Credit payment.

Alberta – Family Employment Tax Credit

This program is designed to help working families provide for their children. There is no need to apply separately to get payments under this program. The information from your Canada Child Benefits application will be used to determine your eligibility for the program. [Read more…]

Don’t Forget To Claim These 4 Often-Missed Canadian Tax Deductions

February 20, 2015 by Kathryn 72 Comments

Tax time is in full swing here in Canada, and that means that it’s time to organize paperwork and start filling out forms to ensure the maximum possible refund, or the minimum possible payment! This year I’ll be using TurboTax to help me file online and I’m so excited to finally see for myself how quick and easy filing online can be. Since TurboTax offers both an accurate calculations guarantee and a maximum refund guarantee, I know that there’s no risk of having to pay a penalty or miss out on potential savings.

If you’re starting to organize your paperwork for tax time, there are a few often-missed Canadian tax deductions that you should make sure to consider as well. After all, even small amounts saved can help lower the impact of tax season…or make that refund cheque even bigger! These four tax deductions are among the top ones missed by Canadians when filing taxes:

Medical Expenses

Since Canada provides basic healthcare coverage to its citizens, medical expenses aren’t something often claimed by families. But other out-of-pocket medical expenses can really add up during the year. Dental appointments, medical prescriptions and travel medical insurance can all be claimed as medical expenses. So can hearing aid batteries, healthcare premiums paid to an employer’s healthcare plan and travel expenses incurred to obtain medical services. [Read more…]