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.

[Read more…]

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…]

Try TurboTax Online for Filing Your Taxes and Say Goodbye to Paper Forever-Giveaway

March 10, 2015 by Kathryn 42 Comments

I’ve always enjoyed the challenge of doing my taxes, but it was after I started my website that I grew to enjoy it even more. Despite the fact I generally have to make payments at the end of the year, I look at those payments as a testament to the hard work I’ve done and the money I’ve made. Knowing I’m supporting my family doing what I love is one of the greatest feelings in the world.

But even though I don’t mind the effort involved, filing taxes does take up quite a bit of my time. I’ve always used the old-fashioned pen and paper method but this year, for the first time, I went digital with help from TurboTax Canada. Using the TurboTax Home & Business edition I was able to quickly and efficiently organize my tax information and get my taxes filed!

What I love about TurboTax is the way it automates some of the lengthiest aspects of tax filing, like the many math calculations. By simply entering my basic income information, TurboTax will calculate the amount of tax I have to pay. Then I answer a few simple questions about my life and family to calculate my non-refundable tax credits and any other deductions as well. [Read more…]

Get Your Taxes Finished with 3 Quick Tips for All Life’s Stages #LSSS

March 2, 2015 by Kathryn 5 Comments

I am one of those odd people that loves tax season, and this year is no exception. I’ve always done my taxes myself and enjoy both the challenge of the process and the chance to see how well I’ve done in the year. There are all kinds of life events that can make a difference when it comes time to file taxes and this month, as part of the Master Lock Live Secure Safety Squad, I’ll be sharing three easy tips for tax time.

Personally, I’ve found that one of the best ways to ensure I’m getting the maximum refund possible is to look for deductions specific to my life situation. For example, for the first time since having kids I’ve needed childcare occasionally for my boys this year. In Canada, that’s a tax deduction for me and one I’ve never been able to use in the past. Similarly, moving to a new town for work, buying a house and retiring all create different opportunities to save when filing income tax. Finding those deductions can make a big impact on your final tax payments. [Read more…]