Hey parents! It’s tax time! Have you filed your taxes? No? Well, Turbo Tax is your answer! We sat down with Turbo Tax Representative Matt Kanas as we learn about tax returns for families.
Why do you think Canadians avoid filling out their taxes?
It used to be that many Canadians sought help with their taxes, but more and more they’re choosing to do it themselves with the help of tax software. Each year the Canada Revenue Agency (CRA) witnesses a 10% increase in Canadians using tax software to NETFILE. In fact, about five million returns were filed last year through Intuit TurboTax, which is very significant when you look at the size of our population.
That said when looking at those who haven’t filed on their own yet, there tends to be hesitancy around unknowns, especially around what credits and deductions to claim. Last year, an Intuit study revealed that 42 per cent of Canadians don’t file their own taxes out of fear of making a mistake, while 38 per cent feared missing out on deductions they were unaware of.
How does TurboTax make it easier for us to fill out our taxes rather than doing it manually?
TurboTax takes the guesswork out of the filling process by guiding Canadians through a personalized experience and step-by-step navigation to help them find every tax deduction they deserve to maximize their refund. What’s more, TurboTax provides Canadians with powerful support through Live Tax Advice, which connects them to tax professionals via phone, e-mail, and chat, as well as Pro Review, which enables Canadians to have their entire return reviewed by a tax pro, ahead of filing with the CRA.
Let’s also look at the convenience factor of tax software. Instead of waiting in line, or having to file during retail hours, TurboTax allows Canadians to file on their own time. The way we see it, doing taxes at home, maybe even in pajamas, is a much better experience then spending hours in a tax shop, sitting across from a stranger. On average, Canadians who do their own taxes spend 60% less, which means they`re effectively getting a bigger tax refund.
And if you’re looking for the easiest way to file for free, there’s no better option than Inuit’s SnapTax. For anyone with a simple return, SnapTax lets Canadians ‘snap’ a photo of their tax forms, answer a few simple questions and file securely through NETFILE. Essentially, taxes can be filed in a matter of minutes!
Is my information kept confidential and safe?
Intuit is currently the steward of 50M customers’ sensitive financial data and has been earning the trust of its customers for nearly 30 years. We view strong privacy and security not only as an act of compliance, but as a key part of the value we deliver to customers. Our Data Stewardship is guided by one essential principle – that it is our customers’ data, not ours.
We follow a strict set of guidelines and practices to protect all Canadians’ private information, which has Intuit TurboTax undergoing regular internal and external, third-party, security audits, including annual This assists us in meeting strict government and industry privacy regulations, such as PIPEDA.
Intuit is a licensee of the TRUSTe Privacy Program, an independent, non-profit organization committed to the use of fair information practices.
Can TurboTax help if I have not filed my taxes in a few years?
TurboTax can certainly help Canadians who haven’t filed for a few years. Currently, we offer support for those who haven’t filed taxes since 2009.
Can we fill out our child tax credits?
Parents should of course be filing all applicable child-related tax credits including:
Canada Child Tax Benefit
– The Canada child tax benefit is a tax-free monthly payment made to eligible families to help them with the cost of raising children under age 18.
NEW THIS YEAR: Adoption Expense Credit
– If you adopted a child this year, you can claim the NEW Adoption Expense Credit!
– The Adoption Expense Credit allows you to claim a non-refundable credit on adoption expenses up to a maximum of $11,669 per child for 2013.
Children’s Arts Tax Credit
– Parents can claim up to $500 in eligible fees with this credit for a variety of programs including: fine arts, music, performing arts, outdoor wilderness training, learning a language, studying a culture and tutoring.
Children’s Fitness Tax Credit
– Parents can claim up to $500 per year for eligible fitness expenses paid for each child who is under 16 years of age at the beginning of the year in which the expenses are paid. Gymnastics, swimming lessons and karate are all examples of activities that can be claimed
Would using TurboTax online help users get their tax returns faster than doing it manually?
TurboTax offers its users an opportunity to quickly and easily file with NETFILE. Electronically filing with the government is easy and secure, and is the absolute fastest way to get your refund. Once you file, it only take s matter of days before you receive your refund. Unlike TurboTax, tax shops don’t give you your refund; they give you a high interest, short-term loan based on what they think you’ll get back, charge you extra fees and then keep your refund when it arrives.
Tell us about the TurboTax Blog
TurboTax Canada Blog is the one stop shop for Canadian filers this season. The blog provides a range of insights, tips, questions and answers for any number of tax issues. The blog is accessible and most posts put a fun twist on timely tax issues like RRSPs, spousal claims, retirement tips. This month we’re even posting fun facts on the Olympics and what taxes would be like if you lived in the world of “Downton Abbey”.
Does TurboTax exist in the USA for our American readers?
TurboTax does exist in the US and has the same ease-of-use and support. For American readers, visit http://turbotax.intuit.ca/ for more information.