Smart Tax Tips

Now that January 1st has just passed, we need to start thinking very carefully about tax planning.

While cleaning out my apartment last night, I came across a tax book from Grant Thornton titled 'Smart Tax Tips'. Although it was written in 2004, much of the information in the book is still relevant. It serves as a good starting reference whether you are married, have a business, etc.

For those that don't want to purchase a new book for 2006, the firm has graciously put up a page with updated smart tax tips.

For those of you that file electronically, what software do you use? I used a free software last year that was really awful. They appear to have gone out of business and are not updating their software for 2006. I might give QuickTaxWeb a try as it appears to be on sale ($5 off! at the moment).

Comments

Frugal Canadian said…
I did a tax software review last year which you might find helpful. I haven't yet updated for 2007, but most of these companies should have minimal updates

See - Feb 12, 2006 Tax Software Reviews
http://frugalcanadian.blogspot.com/2006_02_01_archive.html
torontoinvestor said…
Unfortunately my options are very limited as I am a mac user. Any web tax application I can use but other software I am not able to run on my machine.

if you are doing a 2007 review, could you include the platform in your chart as well (eg. web/windows/mac)? That would help out the growing Macintosh community!
Frugal Canadian said…
As far as I know Mac users only had the option of TaxTron in 2005. Unfortunately, there isn't a lot of options for tax/accounting software for Macs. Here's a link to CRA's supported software: http://www.netfile.gc.ca/software2006-e.html

CRA will likely update the page for 2006 filing by the end of February.

If you've not using a web application, my only other suggestion would be to try the beta for Bootcamp http://www.apple.com/macosx/bootcamp/

good luck
Unknown said…
quicktaxweb has worked great for me the past couple of years. really easy to use.
I would suggest to wait a little bit and check for links via websites of the big banks. They offer discounts if you click thru via a partner site.

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